Every material Form 8-K Phillips 66 filed with the SEC in 2026, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Phillips 66 announced third-quarter 2026 earnings of $5.6 billion, or $14.08 per share, driven by strong performance in its Refining segment with 98% crude capacity utilization. The company returned $2.8 billion to shareholders through dividends and share repurchases while reducing total debt by $2.0 billion.
Reported third-quarter earnings and adjusted earnings of $5.6 billion, or $14.08 per diluted share.
Crude capacity utilization reached 98% with record Central Corridor processed inputs of 848 MBD.
Returned $2.8 billion to shareholders through dividends and share repurchases.
Total debt decreased by $2.0 billion to $18.5 billion as of September 30, 2026.
Phillips 66 said Executive Vice President of Refining Richard G. Harbison notified the company on September 29, 2026 that he intends to retire, effective December 31, 2026. The filing does not name a successor or give reasons for the departure.
Richard G. Harbison, Executive Vice President, Refining, intends to retire.
Notice was provided to the company on September 29, 2026.
Phillips 66 Company, a subsidiary of Phillips 66, amended its accounts receivable securitization program on August 20, 2026. The amendment raises the committed facility from $1.75 billion to $2 billion, adds an uncommitted facility of up to $250 million, and extends the maturity from September 28, 2026 to August 19, 2027.
Maximum committed facility size increased from $1.75 billion to $2 billion
Uncommitted facility of up to $250 million established
Maturity extended from September 28, 2026 to August 19, 2027
Agreement is with PNC Bank, National Association, as administrative agent
Phillips 66 reported second-quarter 2026 earnings of $3.8 billion, or $9.55 per diluted share, compared with $207 million, or $0.51 per share, in the first quarter. Adjusted earnings were $3.8 billion, or $9.41 per share, and the company reduced total debt by $6.6 billion to $20.6 billion, which matters to shareholders because it lowers the company's financial obligations while earnings rose.
Adjusted diluted EPS was $9.41 for Q2 2026, versus $0.49 in Q1 2026 and $2.38 in Q2 2025.
Total debt fell $6.6 billion to $20.6 billion as of June 30, 2026; net debt was $16.5 billion.
Refining crude capacity utilization was 96%, and Refining adjusted pre-tax income was $3.1 billion versus $208 million in Q1.
Shareholder returns in Q2 included $508 million in dividends and $379 million in share repurchases.
Phillips 66 reported first-quarter 2026 earnings of $207 million, or $0.51 per diluted share, and adjusted earnings of $200 million, or $0.49 per share, down sharply from $2.9 billion reported and $1.0 billion adjusted in the fourth quarter of 2025. The company cited $839 million of mark-to-market losses on hedges tied to a sharp rise in commodity prices, and it increased its annualized quarterly dividend by 7%.
Q1 2026 earnings were $207 million ($0.51 per diluted share) versus $2.9 billion ($7.17) in Q4 2025; adjusted earnings were $200 million ($0.49) versus $1.0 billion ($2.47)
Mark-to-market pre-tax losses of $839 million, including $396 million in Refining and $323 million in Marketing and Specialties
Total debt rose to $27.1 billion from $19.7 billion, and the net debt-to-capital ratio was 43% versus 38%; liquidity was approximately $6.0 billion
Annualized quarterly dividend increased by 7%; the Lindsey Oil Refinery acquisition was completed in April 2026
Phillips 66 issued preliminary first-quarter 2026 guidance showing pre-tax losses tied to a sharp rise in commodity prices, which produced about $900 million in mark-to-market losses. The company also drew on credit lines, took a new $2.25 billion 364-day term loan and expanded its receivables securitization facility to $1.75 billion to cover a net outflow of about $3 billion in cash collateral. Results are not final and could change before the quarter closes.
Estimated first-quarter pre-tax mark-to-market losses of about $900 million: Refining $350-450 million, Marketing and Specialties $300-400 million, Renewable Fuels $100-200 million
Refining pre-tax loss range of $(400) million to $(200) million and Marketing and Specialties range of $(170) million to $(20) million; Midstream pre-tax income range of $550 million to $600 million
As of March 31, 2026, liquidity was about $6 billion, with $5 billion in cash and cash equivalents; total debt about $27 billion and net debt $22 billion, with a target of $17 billion total debt by end of 2027
Phillips 66 Company, a wholly owned subsidiary of Phillips 66, entered into a 364-day, $2.25 billion term loan on March 18, 2026, and borrowed the full amount at closing. The company also amended its receivables securitization program to raise the maximum facility size from $1.25 billion to $1.75 billion, with a possible future increase to up to $2.0 billion. The filing describes new debt and expanded financing capacity but does not report earnings, guidance, or a use of proceeds.
Term loan: $2.25 billion, 364-day maturity, fully borrowed as of March 18, 2026, prepayable without premium or penalty
Interest: Term SOFR plus 1.100%, or reference rate plus 0.100%
Covenant: maximum consolidated net debt-to-capitalization ratio of 65%, tested each fiscal quarter
Receivables facility: maximum size raised from $1.25 billion to $1.75 billion under amendment dated March 13, 2026
On March 6, 2026, Phillips 66's board increased its size from 14 to 16 directors and appointed Kevin O. Meyers and Howard I. Ungerleider, both independent, effective immediately. Both were placed on the Audit & Finance and Public Policy and Sustainability committees, and the filing says they receive pro-rated non-employee director compensation. The change is an administrative board addition with no financial terms disclosed.
Board expanded from 14 to 16 directors on March 6, 2026, with Meyers and Ungerleider appointed effective immediately
Kevin O. Meyers, age 72, formerly served at ConocoPhillips and Hess Corporation; Howard I. Ungerleider, age 57, is former CFO of Dow Inc.
Both new directors were appointed to the Audit & Finance Committee and the Public Policy and Sustainability Committee
Grace Puma Whiteford was reclassified as a Class I director with a term expiring at the 2028 annual meeting
Phillips 66 reported fourth-quarter 2025 earnings of $2.9 billion, or $7.17 per diluted share, compared with $133 million in the third quarter. Adjusted earnings were $1.0 billion, or $2.47 per share, versus $1.025 billion, or $2.52 per share, in the third quarter. The reported figure includes $2.0 billion of pre-tax special items, mainly from the partial sale of the Germany and Austria retail marketing business, while adjusted results were roughly steady.
Reported earnings $2.9 billion ($7.17 per diluted share) vs. $133 million ($0.32) in Q3 2025
Adjusted earnings $1.0 billion ($2.47 per share) vs. $1.025 billion ($2.52) in Q3 2025; sales and other operating revenues $34.1 billion vs. $34.5 billion in Q3
Full-year 2025 earnings $4.4 billion ($10.79 per share); debt reduced by $2.0 billion in the quarter to $19.7 billion
Announced 2026 capital budget of $2.4 billion, including $1.1 billion for sustaining capital
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
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