In its upcoming report, Phillips 66 (PSX) is predicted by Wall Street analysts to post quarterly earnings of $2.11 per share, reflecting an increase of 1506.7% compared to the same period last year. Revenues are forecasted to be $30.15 billion, representing a year-over-year decrease of 11.3%.
Over the last 30 days, there has been a downward revision of 18.9% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
With that in mind, let's delve into the average projections of some Phillips 66 metrics that are commonly tracked and projected by analysts on Wall Street.
The combined assessment of analysts suggests that 'Revenues and Other Income- Sales and other operating revenues' will likely reach $30.06 billion. The estimate suggests a change of -10.8% year over year.
Analysts' assessment points toward 'Revenues and Other Income- Equity in earnings of affiliates' reaching $246.68 million. The estimate suggests a change of +14.7% year over year.
Analysts expect 'Total Petroleum products sales volumes' to come in at 2,255.99 thousands of barrels of oil per day. Compared to the current estimate, the company reported 2,402.00 thousands of barrels of oil per day in the same quarter of the previous year.
The consensus among analysts is that 'Refining Margins - Atlantic Basin/Europe (Per Barrel)' will reach $12.90 . The estimate is in contrast to the year-ago figure of $6.09 .
The consensus estimate for 'Refining Margins - Gulf Coast (Per Barrel)' stands at $10.62 . Compared to the present estimate, the company reported $5.58 in the same quarter last year.
Analysts predict that the 'Refining Margins - Central Corridor (Per Barrel)' will reach $13.58 . Compared to the current estimate, the company reported $6.68 in the same quarter of the previous year.
According to the collective judgment of analysts, 'Refining Margins - Western/Pacific (Per Barrel)' should come in at $11.45 . Compared to the current estimate, the company reported $5.74 in the same quarter of the previous year.
It is projected by analysts that the 'Refining Margins - Worldwide (Per Barrel)' will reach $12.44 . The estimate is in contrast to the year-ago figure of $6.08 .
The collective assessment of analysts points to an estimated 'Refined Petroleum Products Production - Atlantic Basin/Europe' of 535.87 thousands of barrels of oil per day. The estimate compares to the year-ago value of 559.00 thousands of barrels of oil per day.
Based on the collective assessment of analysts, 'Refined Petroleum Products Sales - U.S. Marketing- Total - Barrels Per Day' should arrive at 1,962.33 thousands of barrels of oil per day. The estimate is in contrast to the year-ago figure of 2,087.00 thousands of barrels of oil per day.
The average prediction of analysts places 'Midstream - Pipelines' at 3,161.52 thousands of barrels of oil per day. Compared to the current estimate, the company reported 3,168.00 thousands of barrels of oil per day in the same quarter of the previous year.
Analysts forecast 'Midstream - Terminals' to reach 3,100.02 thousands of barrels of oil per day. The estimate compares to the year-ago value of 3,107.00 thousands of barrels of oil per day.
View all Key Company Metrics for Phillips 66 here>>>
Shares of Phillips 66 have demonstrated returns of +11.7% over the past month compared to the Zacks S&P 500 composite's +0.9% change. With a Zacks Rank #3 (Hold), PSX is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Phillips 66 (PSX): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
