PSX · 10-Q · 2026Q2 · Full report

Revenue Performance and Mix

Phillips 66 · 2026-08-05 · Importance 69 · Surprise 64 · No source text

Sales and other operating revenues increased 53% year over year in the second quarter of 2026 and 31% in the first six months of 2026. The increases were primarily driven by higher refined petroleum product and crude oil prices, partially offset by the December 2025 sale of 65% of the Germany and Austria Marketing business. Equity in earnings of affiliates increased $482 million in the second quarter and $581 million in the first six months, primarily because of higher CPChem earnings and, for the six-month period, the absence of WRB equity losses after Phillips 66 acquired the remaining 50% interest. Net income attributable to Phillips 66 rose to $3.8 billion in the second quarter from $0.9 billion and to $4.1 billion in the first six months from $1.4 billion, primarily because of stronger Refining margins and higher Renewable Fuels regulatory-credit values.

Key facts

• Net income attributable to Phillips 66 in the second quarter of 2026 was $3.8 billion, compared with $0.9 billion in the second quarter of 2025. source
• Net income attributable to Phillips 66 for the six months ended June 30, 2026 was $4.1 billion, compared with $1.4 billion for the six months ended June 30, 2025. source
• For the six months ended June 30, 2026, Sales and other operating revenues for the Obligor Group were $63,574 million and Income before income taxes was $2,543 million and Net income was $2,000 million. source
• Purchased crude oil and products—third parties for the Obligor Group were $46,855 million for the six months ended June 30, 2026. source
• Sales and other operating revenues increased 53% and 31% for the three and six months ended June 30, 2026, respectively. source
• In the second quarter of 2026, Phillips 66 reported earnings of $3.8 billion. source
• Purchased crude oil and products increased 50% and 28% for the three and six months ended June 30, 2026, respectively. source
• Other income increased $149 million and $297 million for the three and six months ended June 30, 2026, respectively. source

Impact estimates