Phillips 66 filed its Form 10-Q for the quarterly period ended September 30, 2026, with the SEC on October 28, 2026, reporting sharply higher revenues and net income compared with the same period a year earlier.

Key Highlights

  • Net income attributable to Phillips 66 reached $5,616 million for the three months ended September 30, 2026, compared with $133 million in the same quarter of 2025.
  • Sales and other operating revenues totaled $50,540 million for Q3 2026, up from $34,515 million in Q3 2025.
  • Diluted earnings per share were $14.08 for Q3 2026, versus $0.32 in Q3 2025.
  • Nine-month net income attributable to Phillips 66 was $9,670 million for the nine months ended September 30, 2026, compared with $1,497 million for the same period in 2025.
  • Operating cash flow for the nine months ended September 30, 2026, was $12,276 million, versus $2,210 million in the prior-year period.
  • Common shares outstanding as of September 30, 2026, were 390,072,362, with 271,829,098 shares held as treasury stock.
  • Total assets stood at $85,955 million as of September 30, 2026, up from $73,680 million at December 31, 2025.

Phillips 66 Q3 2026 Financial Results: Revenue, Earnings, and Balance Sheet

According to the filing, Phillips 66 (NYSE:PSX) reported total revenues and other income of $51,506 million for the three months ended September 30, 2026, compared with $34,979 million in Q3 2025. Purchased crude oil and products accounted for $40,814 million of costs in the quarter, up from $30,219 million in the year-ago period. Income before income taxes was $7,108 million in Q3 2026, versus $199 million in Q3 2025. Income tax expense for the quarter was $1,469 million, leaving net income of $5,639 million, of which $5,616 million was attributable to Phillips 66.

For the nine months ended September 30, 2026, the company disclosed sales and other operating revenues of $134,084 million and total revenues and other income of $136,552 million. Net income for the nine-month period was $9,737 million, with $9,670 million attributable to Phillips 66. Basic earnings per share for the nine months were $24.16 and diluted earnings per share were $24.05, the filing stated. The weighted-average diluted shares outstanding for the nine-month period were 402,119 thousand.

On the balance sheet as of September 30, 2026, the company reported cash and cash equivalents of $5,848 million, up from $1,116 million at December 31, 2025. Long-term debt was $17,485 million, compared with $18,678 million at year-end 2025. Total stockholders' equity was $34,331 million. The filing also disclosed that the company repurchased $2,921 million of common stock and paid $1,521 million in dividends on common stock during the nine months ended September 30, 2026. Impairments for the quarter were $32 million, compared with $951 million in Q3 2025.

What Was Disclosed

Phillips 66 filed its quarterly report covering the period ended September 30, 2026, disclosing income statements, balance sheet data, and cash flow figures that reflect significantly higher revenues, earnings, and operating cash flow compared with the prior-year periods.