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3Q 2019 Earnings Presentation – Phillips 66

Phillips 66 · Oct 25, 2019 · 26 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. 3Q 2019 Earnings Presentation – Phillips 66 – slide 1
    Ponca City Refinery Ponca City, Oklahoma October 25, 2019 THIRD QUARTER 2019 CONFERENCE CALL 1 phillips66.com NYSE: PSX
  2. 3Q 2019 Earnings Presentation – Phillips 66 – slide 2
    EXECUTING THE STRATEGY Beaumont Terminal, Nederland, Texas 3 phillips66.com NYSE: PSX
  3. 3Q 2019 Earnings Presentation – Phillips 66 – slide 3
    3Q 2019 OVERVIEW MM (Unless Otherwise Noted) 3Q 2019 Adjusted earnings 1,402 Adjusted EPS1 3.11 Operating cash flow excluding working capital2 1,813 Capital expenditures and investments 867 Shareholder distributions3 841…
  4. 3Q 2019 Earnings Presentation – Phillips 66 – slide 4
    3Q 2019 ADJUSTED EARNINGS MM 17 145 27 (6) (15) (1) (144) 1,379 1,402 2Q 2019 Midstream Chemicals Refining Marketing Corporate Income Noncontrolling 3Q 2019 Adjusted & Specialties & Other Taxes Interests Adjusted…
  5. 3Q 2019 Earnings Presentation – Phillips 66 – slide 5
    3Q 2019 MIDSTREAM ADJUSTED PRE-TAX INCOME MM Record Transportation and NGL & Other results 26 3 (12) Initiated line fill on Gray Oak Pipeline 423 440 Advanced construction of Sweeny Fracs 2, 3 and 4 2Q 2019…
  6. 3Q 2019 Earnings Presentation – Phillips 66 – slide 6
    3Q 2019 CHEMICALS ADJUSTED PRE-TAX INCOME MM 97% O&P utilization 2 1 (9) Higher polyethylene sales volumes 275 269 Continued strong cash distributions 2Q 2019 Olefins & Specialties, Other 3Q 2019 Adjusted Polyolefins…
  7. 3Q 2019 Earnings Presentation – Phillips 66 – slide 7
    3Q 2019 REFINING ADJUSTED PRE-TAX INCOME MM 97% crude utilization 21 (38) (112) (15) 84% clean product yield 983 11.18/BBL realized margin 839 120 MM turnaround costs 2Q 2019 Atlantic Gulf Central West 3Q 2019 Adjusted…
  8. 3Q 2019 Earnings Presentation – Phillips 66 – slide 8
    3Q 2019 REFINING MARGINS MARKET VS. REALIZED WORLDWIDE REFINING /BBL 0.03 (2.00) (1.07) (0.38) 14.60 11.18 3Q 2019 Configuration Secondary Feedstock Other 3Q 2019 Market Products Realized 3:2:1 Margin Avg Market…
  9. 3Q 2019 Earnings Presentation – Phillips 66 – slide 9
    3Q 2019 MARKETING AND SPECIALTIES ADJUSTED PRE-TAX INCOME MM Strong global margins 146 (1) Reimaged 373 branded sites 498 353 Refined products exports of 220 MBPD 2Q 2019 Marketing Specialties 3Q 2019 Adjusted & Other…
  10. 3Q 2019 Earnings Presentation – Phillips 66 – slide 10
    3Q 2019 CORPORATE AND OTHER ADJUSTED PRE-TAX LOSS MM 2Q 2019 Corporate 3Q 2019 Adjusted Net Interest Overhead Adjusted Pre-Tax Loss Expense & Other Pre-Tax Loss (178) (205) 20 7 11 phillips66.com NYSE: PSX
  11. 3Q 2019 Earnings Presentation – Phillips 66 – slide 11
    3Q 2019 CASH FLOW B 0.5 1.8 (0.1) (0.9) (0.8) 2.3 1.8 June 30, CFO Working Debt Capital Shareholder September 30, 2019 (excluding Capital Expenditures Distributions 2019 Cash Working & Investments Cash Balance1…
  12. 3Q 2019 Earnings Presentation – Phillips 66 – slide 12
    4Q 2019 OUTLOOK Global Olefins and Polyolefins utilization Mid-90% Refining crude utilization Mid-90% Refining turnaround expenses (pre-tax) 170 MM 210 MM Corporate and Other costs (pre-tax) 210 MM 230 MM Freeport…
  13. 3Q 2019 Earnings Presentation – Phillips 66 – slide 13
    Beaumont Terminal Nederland, Texas QUESTIONS AND ANSWERS phillips66.com NYSE: PSX
  14. 3Q 2019 Earnings Presentation – Phillips 66 – slide 14
    Beaumont Terminal Nederland, Texas APPENDIX phillips66.com NYSE: PSX
  15. 3Q 2019 Earnings Presentation – Phillips 66 – slide 15
    2019 ESTIMATED SENSITIVITIES Annual EBITDA MM Midstream - DCP (net to Phillips 66) 10/Gal Increase in NGL price 6 10/MMBtu Increase in Natural Gas price 1 1/BBL Increase in WTI price 1 Chemicals - CPChem (net to Phillips 66)…
  16. 3Q 2019 Earnings Presentation – Phillips 66 – slide 16
    CAPITAL STRUCTURE CONSOLIDATED PSX EXCLUDING PSXP 31% 26% 30% 30% 30% 29% 25% 25% 25% 25% 27% 27% 26% 26% 22% 22% 24% 21% 21% 23% 18% 20% 17% 14% 25.1 24.7 24.3 24.8 24.9 27.4 27.2 26.7 27.3 27.1 22.4 23.7 11.2 11.3…
  17. 3Q 2019 Earnings Presentation – Phillips 66 – slide 17
    3Q 2019 REFINING MARGINS MARKET VS. REALIZED ATLANTIC BASIN / EUROPE /BBL Brent: 61.94/BBL 2.47 95% crude utilization 0.10 (1.41) (3.38) 84% market capture 13.70 11.48 3Q 2019 Configuration Secondary Feedstock Other…
  18. 3Q 2019 Earnings Presentation – Phillips 66 – slide 18
    3Q 2019 REFINING MARGINS MARKET VS. REALIZED GULF COAST /BBL LLS: 60.64/BBL 0.31 95% crude utilization (1.81) (0.58) (0.82) 11.24 74% market capture 8.34 3Q 2019 Configuration Secondary Feedstock Other 3Q 2019 Market…
  19. 3Q 2019 Earnings Presentation – Phillips 66 – slide 19
    3Q 2019 REFINING MARGINS MARKET VS. REALIZED CENTRAL CORRIDOR /BBL WTI: 56.44/BBL 1.71 2.23 (1.58) 100% crude utilization (3.68) 17.31 15.99 92% market capture 3Q 2019 Configuration Secondary Feedstock Other 3Q 2019…
  20. 3Q 2019 Earnings Presentation – Phillips 66 – slide 20
    3Q 2019 REFINING MARGINS MARKET VS. REALIZED WEST COAST /BBL ANS: 63.07/BBL 97% crude utilization (2.99) 1.20 (3.66) 19.11 53% market capture (3.55) 10.11 3Q 2019 Configuration Secondary Feedstock Other 3Q 2019…
  21. 3Q 2019 Earnings Presentation – Phillips 66 – slide 21
    3Q 2019 VS. 3Q 2018 ADJUSTED EARNINGS MM 128 6 82 113 45 (4) (424) 1,456 1,402 3Q 2018 Midstream Chemicals Refining Marketing Corporate Income Noncontrolling 3Q 2019 Adjusted & Specialties & Other Taxes Interests…
  22. 3Q 2019 Earnings Presentation – Phillips 66 – slide 22
    3Q 2019 VS. 3Q 2018 MIDSTREAM ADJUSTED PRE-TAX INCOME MM 95 (6) 39 440 312 3Q 2018 Transportation NGL & Other DCP 3Q 2019 Adjusted Midstream Adjusted Pre-Tax Income Pre-Tax Income 248 169 23 3Q 2019 23…
  23. 3Q 2019 Earnings Presentation – Phillips 66 – slide 23
    3Q 2019 VS. 3Q 2018 CHEMICALS ADJUSTED PRE-TAX INCOME MM 26 (15) (5) 263 269 3Q 2018 Olefins & Specialties, Other 3Q 2019 Adjusted Polyolefins Aromatics & Adjusted Pre-Tax Income Styrenics Pre-Tax Income 251 36 (18)…
  24. 3Q 2019 Earnings Presentation – Phillips 66 – slide 24
    3Q 2019 VS. 3Q 2018 REFINING ADJUSTED PRE-TAX INCOME MM 63 (37) (438) (12) 1,263 839 3Q 2018 Atlantic Gulf Central West Coast 3Q 2019 Adjusted Basin / Coast Corridor Adjusted Pre-Tax Income Europe Pre-Tax Income 279…
  25. 3Q 2019 Earnings Presentation – Phillips 66 – slide 25
    3Q 2019 VS. 3Q 2018 MARKETING AND SPECIALTIES ADJUSTED PRE-TAX INCOME MM 117 (4) 498 385 3Q 2018 Marketing Specialties 3Q 2019 Adjusted & Other Adjusted Pre-Tax Income Pre-Tax Income 440 58 3Q 2019 26 phillips66.com…
  26. 3Q 2019 Earnings Presentation – Phillips 66 – slide 26
    3Q 2019 VS. 3Q 2018 CORPORATE AND OTHER ADJUSTED PRE-TAX LOSS MM 3Q 2018 Corporate 3Q 2019 Adjusted Net Interest Overhead Adjusted Pre-Tax Loss Expense & Other Pre-Tax Loss (178) (223) 29 16 27 phillips66.com NYSE: PSX

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