phillips 66 (PSX) Key Developments
ConocoPhillips, Phillips 66 Settle Lawsuit over Pollution
May 9 15
ConocoPhillips and Phillips 66 will pay a total of $11.5 million to settle a lawsuit alleging that hundreds of their gas stations violated California anti-pollution laws since 2006. The civil complaint, filed in January 2013, alleged that the Houston-based companies violated state laws on the operation and maintenance of underground gasoline storage tanks at 560 gas stations in the state. These violations included failing to properly maintain leak detection devices, test secondary containment systems, conduct monthly inspections and train employees in proper protocol.
Phillips 66 Increases Quarterly Dividend for the Year 2014, Payable on June 1, 2015
May 3 15
The board of directors of Phillips 66 has declared a quarterly dividend of 56 cents per share on Phillips 66 common stock, representing an increase of 12% from the prior quarter. The dividend is payable on June 1, 2015, to shareholders of record as of the close of business on May 18, 2015.
Phillips 66 reaffirms Capital Expenditure Guidance for the Year 2015
Apr 30 15
Phillips 66 reaffirmed capital expenditure guidance for the year 2015. For the year, the company expects capital expenditures of $4.6 billion.
Phillips 66 Reports Consolidated Earnings Results for the First Quarter Ended March 31, 2015
Apr 30 15
Phillips 66 reported consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported total revenues and other income of $23,426 million compared to $41,099 million a year ago. Income from continuing operations before income taxes was $1,388 million compared to $1,298 million a year ago. Income from continuing operations was $997 million compared to $872 million a year ago. Net income attributable to the company was $987 million or $1.79 per diluted share compared to $1,572 million or $2.67 per diluted share a year ago. Income from continuing operations attributable to the company was $987 million or $1.79 per diluted share compared to $866 million or $1.47 per diluted share a year ago. Net cash provided by operating activities was $1,352 million compared to $1,398 million a year ago. Capital expenditures and investments were $1,081 million compared to $572 million a year ago. Adjusted EBITDA was $1,813 million compared to $1,792 million a year ago. Adjusted earnings were $834 million or $1.51 per share compared to $866 million or $1.47 per share a year ago.
Phillips 66 Presents at Citi Global Energy & Utilities Conference, May-13-2015 09:30 AM
Apr 28 15
Phillips 66 Presents at Citi Global Energy & Utilities Conference, May-13-2015 09:30 AM. Venue: The Hyatt Regency, 1 Avenue de Lafayette, Boston, MA 02111, United States. Speakers: C. Craig Reasor, Executive Vice President of Investor Relations, Strategy, Corporate and Government Affairs.