Stay Ahead of the Game With Phillips 66 (PSX) Q2 Earnings: Wall Street's Insights on Key Metrics

In its upcoming report, Phillips 66 (PSX) is predicted by Wall Street analysts to post quarterly earnings of $1.63 per share, reflecting a decline of 29.4% compared to the same period last year. Revenues are forecasted to be $30.54 billion, representing a year-over-year decrease of 21.5%.Over the last 30 days, there has been an upward revision of 4.7% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.Given this perspective, it's time to examine the average forecasts of specific Phillips 66 metrics that are routinely monitored and predicted by Wall Street analysts.The average prediction of analysts places 'Sales and other operating revenues' at $30.66 billion. The estimate indicates a change of -19.6% from the prior-year quarter.The collective assessment of analysts points to an estimated 'Equity in earnings of affiliates' of $316.23 million. The estimate indicates a year-over-year change of -35.1%.It is projected by analysts that the 'Revenues and Other Income- Other income' will reach $41.52 million. The estimate points to a change of -28.4% from the year-ago quarter.Analysts' assessment points toward 'Revenues- Total Refining' reaching $15.63 billion. The estimate indicates a change of +69.9% from the prior-year quarter.Analysts forecast 'Refining operations- Gulf Coast - Crude oil processed' to reach 495.27 thousands of barrels of oil per day. Compared to the present estimate, the company reported 507.00 thousands of barrels of oil per day in the same quarter last year.According to the collective judgment of analysts, 'Refining operations- Atlantic Basin/Europe - Crude oil capacity' should come in at 537.00 thousands of barrels of oil per day. The estimate compares to the year-ago value of 537.00 thousands of barrels of oil per day.Analysts predict that the 'Refining operations- Worldwide - Crude oil processed' will reach 1,751.92 thousands of barrels of oil per day. Compared to the present estimate, the company reported 1,802.00 thousands of barrels of oil per day in the same quarter last year.The consensus estimate for 'Refining operations- Atlantic Basin/Europe - Capacity utilization (percent)' stands at 94.6%. The estimate is in contrast to the year-ago figure of 98.0%.The consensus among analysts is that 'Refining operations- Atlantic Basin/Europe - Crude oil processed' will reach 508.20 thousands of barrels of oil per day. The estimate is in contrast to the year-ago figure of 527.00 thousands of barrels of oil per day.Analysts expect 'Refining operations- West Coast - Crude oil processed' to come in at 228.29 thousands of barrels of oil per day. The estimate is in contrast to the year-ago figure of 227.00 thousands of barrels of oil per day.The combined assessment of analysts suggests that 'Refining operations- West Coast - Crude oil capacity' will likely reach 244.00 thousands of barrels of oil per day. Compared to the current estimate, the company reported 244.00 thousands of barrels of oil per day in the same quarter of the previous year.Based on the collective assessment of analysts, 'Refining operations- West Coast - Capacity utilization (percent)' should arrive at 93.6%. Compared to the present estimate, the company reported 93.0% in the same quarter last year. View all Key Company Metrics for Phillips 66 here>>> Over the past month, Phillips 66 shares have recorded returns of +6.9% versus the Zacks S&P 500 composite's +5.7% change. Based on its Zacks Rank #3 (Hold), PSX will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.5% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Phillips 66 (PSX): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks