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BRIEF-Phillips 66 reports Q2 earnings of $0.93 per share
July 29, 2016 / 11:26 AM / a year ago

BRIEF-Phillips 66 reports Q2 earnings of $0.93 per share

July 29 (Reuters) - Phillips 66 :

* Refining’s adjusted earnings were $152 million in q2, compared with $86 million in q1 of 2016

* As of June 30, 2016, cash and cash equivalents were $2.2 billion and debt was $8.9 billion, including $1.1 billion of debt at Phillips 66 partners

* In midstream, freeport LPG export terminal is nearing completion; project is on budget with startup expected by year-end

* Increased quarterly dividend by 12.5 percent

* Phillips 66 Reports Second Quarter earnings of $496 million or $0.93 per share

* Q2 earnings per share $0.93

* Q2 adjusted earnings per share $0.94

* Q2 earnings per share view $0.93 -- Thomson Reuters I/B/E/S

* Midstream’s second-quarter adjusted earnings were $39 million, in line with q1 of 2016

* Chemicals’ second-quarter earnings were $190 million, compared with $156 million in q1 of 2016

* Refining’s second-quarter earnings were $149 million, compared with $86 million in q1 of 2016

* Cpchem’s world-scale u.s. Gulf coast petrochemicals project is approximately 80 percent complete, with startup expected in h2 2017

* Bayway refinery is undergoing an FCC modernization to increase gasoline yield, expected in 2018

* Billings refinery is increasing its heavy Canadian crude run ability to 100 percent

* Qtrly total revenue and other income $22.31 billion versus $29.08 billion Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1 646 223 8780)

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