What was Phillips 66's revenue in Q1 2026?

Phillips 66 reported revenue of approximately $33.002 billion in Q1 2026.

Why did Phillips 66 stock drop 6.1%?

The stock fell due to net income dropping to $207 million and EPS roughly halving compared to last year.

Did Phillips 66 insiders buy shares recently?

Yes, executives purchased shares during Q1 2026, signaling confidence in the company's future.

Phillips 66 (PSX) Drops 6.1% on Q1 Profit Squeeze Despite Strong Margins

Q: What factors supported Phillips 66's adjusted earnings?

Stronger refining margins and improved performance in chemicals and renewable fuels supported adjusted earnings.

Phillips 66 (PSX) reported Q1 2026 revenue of $33.002 billion, but net income dropped to $207 million, causing shares to fall 6.1%. Despite the profit squeeze, analysts highlighted better-than-expected adjusted earnings driven by stronger refining margins and improved chemicals and renewables performance, with insider buying reinforcing confidence.

Phillips 66 (PSX) reported its first-quarter 2026 results with revenue rising to $33.002 billion, but net income fell sharply to $207 million, roughly halving earnings per share compared to a year ago. The stock declined 6.1% following the announcement.

Key Financial Results

Metric	Q1 2026	YoY Change
Revenue	$33.002B	Increase
Sales	$32.54B	Increase
Net Income	$207M	Sharp decline
EPS	~50% lower	Decline

Highlights from the Report

Despite lower net income, adjusted earnings beat expectations, supported by stronger refining margins and improved performance in chemicals and renewable fuels. Insider share purchases during the quarter signaled leadership confidence.

Guidance

No specific numerical guidance was provided for the next quarter, but the company reiterated its focus on operational efficiency and shareholder returns.

Stock Impact

PSX shares fell 6.1% after the earnings release, reflecting investor disappointment over the profit decline, though positive signs from margins and insider buying offered some support.

What This Means for Investors

Phillips 66's results present a mixed picture: while net income is under pressure, improving margins and insider buying suggest management confidence in navigating the current environment.