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Diversified power firm Phillips 66 (NYSE: PSX) on Wednesday introduced outcomes for the primary quarter, reporting a decline in revenues and a pointy improve in adjusted revenue.
Complete income and different revenue decreased 4% year-over-year to $35.09 billion for the primary quarter of 2023.
Internet revenue attributable to Phillips 66 was $1.96 billion, or $4.20 per share within the first quarter, in comparison with $582 million or $1.29 per share within the prior-year interval. Adjusted earnings rose sharply to $4.21 per share from $1.32 per share final 12 months.
“We continued to make progress on our strategic priorities, delivering robust monetary and working leads to the quarter,” stated Mark Lashier, CEO of Phillips 66.