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2Q 2020 Earnings Presentation – Phillips 66

Phillips 66 · Jul 31, 2020 · 27 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. 2Q 2020 Earnings Presentation – Phillips 66 – slide 1
    Beaumont Terminal NEDERLAND, TX SECOND QUARTER 2020 CONFERENCE CALL July 31, 2020 Second Quarter 2020 Conference Call 1
  2. 2Q 2020 Earnings Presentation – Phillips 66 – slide 2
    Executing the Strategy Sweeny Fractionators 2 and 3 Construction Site OLD OCEAN, TX Second Quarter 2020 Conference Call 3
  3. 2Q 2020 Earnings Presentation – Phillips 66 – slide 3
    2Q 2020 Overview MM (UNLESS OTHERWISE NOTED) Dock Construction at Beaumont Terminal NEDERLAND, TX Adjusted loss (324) Adjusted EPS1 (0.74) Operating cash flow 764 Adjusted capital spending2 901 Shareholder distributions3 393…
  4. 2Q 2020 Earnings Presentation – Phillips 66 – slide 4
    2Q 2020 Adjusted Loss 2Q 2020 VS. 1Q 2020 (MM) 450 (215) (104) (324) 214 19 (466) (195) (27) 1Q 2020 Midstream Chemicals Refining Marketing Corporate Income Noncontrolling 2Q 2020 Adjusted & Specialties & Other Taxes…
  5. 2Q 2020 Earnings Presentation – Phillips 66 – slide 5
    2Q 2020 Midstream Adjusted Pre-Tax Income 2Q 2020 VS. 1Q 2020 (MM) Impacted by reduced throughput volumes (70) Started full operations on (96) Gray Oak Pipeline 460 (49) 245 Completed tie-in work at Sweeny Fracs 2 and 3 1Q…
  6. 2Q 2020 Earnings Presentation – Phillips 66 – slide 6
    2Q 2020 Chemicals Adjusted Pre-Tax Income 2Q 2020 VS. 1Q 2020 (MM) 103% O&P utilization Meeting strong polymer demand for food packaging 193 (87) (1) and medical supplies (16) 89 Lower O&P margins 1Q 2020 Olefins &…
  7. 2Q 2020 Earnings Presentation – Phillips 66 – slide 7
    2Q 2020 Refining Adjusted Pre-Tax Loss 2Q 2020 VS. 1Q 2020 (MM) 1Q 2020 Atlantic Gulf Central West 2Q 2020 Adjusted Basin / Coast Corridor Coast Adjusted Pre-Tax Loss Europe Pre-Tax Loss 75% crude utilization (401) 83% clean…
  8. 2Q 2020 Earnings Presentation – Phillips 66 – slide 8
    2Q 2020 Refining Margins Market vs. Realized WORLDWIDE REFINING (/BBL, UNLESS OTHERWISE NOTED) (1.03) (0.95) (0.67) 7.47 (2.22) 2.60 2Q 2020 Configuration Secondary Feedstock Other 2Q 2020 Market Products Realized 3:2:1…
  9. 2Q 2020 Earnings Presentation – Phillips 66 – slide 9
    2Q 2020 Marketing & Specialties Adjusted Pre-Tax Income 2Q 2020 VS. 1Q 2020 (MM) Lower global marketing volumes and margins (175) Reimaged 313 branded sites (20) 488 worldwide 293 Refined product exports of 160 MBPD 1Q…
  10. 2Q 2020 Earnings Presentation – Phillips 66 – slide 10
    2Q 2020 Corporate & Other Adjusted Pre-Tax Loss 2Q 2020 VS. 1Q 2020 (MM) 1Q 2020 Net Interest Corporate 2Q 2020 Adjusted Expense Overhead Adjusted Pre-Tax Loss & Other Pre-Tax Loss (197) (224) (19) (8) Second Quarter…
  11. 2Q 2020 Earnings Presentation – Phillips 66 – slide 11
    YTD 2020 Cash Flow B 2.7 1.4 (1.8) (0.4) (1.2) (0.4) 1.6 1.9 December 31, CFO Working Debt Adjusted Shareholder Other June 30, 2019 (excluding Capital Capital Distributions 2020 Cash Working Spending2 Cash Balance1…
  12. 2Q 2020 Earnings Presentation – Phillips 66 – slide 12
    3Q 2020 Outlook Los Angeles Refinery WILMINGTON, CA Global Olefins & Polyolefins utilization Mid-90% Refining crude utilization Market Conditions Refining turnaround expenses (pre-tax) 50 MM 70 MM Corporate & Other costs…
  13. 2Q 2020 Earnings Presentation – Phillips 66 – slide 13
    Phillips 66 Branded Marketing Site ST. LOUIS, MO Questions and Answers
  14. 2Q 2020 Earnings Presentation – Phillips 66 – slide 14
    Phillips 66 Branded Marketing Site ST. LOUIS, MO Appendix
  15. 2Q 2020 Earnings Presentation – Phillips 66 – slide 15
    2020 Estimated Sensitivities Annual EBITDA MM Midstream - DCP (net to Phillips 66) 10/Gal Increase in NGL price 9 10/MMBtu Increase in Natural Gas price 2 1/BBL Increase in WTI price 1 Chemicals - CPChem (net to Phillips 66) 1/Lb…
  16. 2Q 2020 Earnings Presentation – Phillips 66 – slide 16
    2Q 2020 Cash Flow B 1.5 (0.9) 0.7 0.1 (0.4) (0.3) 1.9 1.2 March 31, CFO Working Debt Adjusted Shareholder Other June 30, 2020 (excluding Capital Capital Distributions 2020 Cash Working Spending2 Cash Balance1 Capital)…
  17. 2Q 2020 Earnings Presentation – Phillips 66 – slide 17
    Capital Structure Consolidated PSX Excluding PSXP 38% 35% 34% 30% 31% 29% 35% 27% 33% 25% 25% 22% 30% 27% 28% 23% 22% 20% 17% 14% 27.4 27.2 27.2 23.6 23.3 25.1 24.7 24.9 21.4 20.7 13.0 14.4 10.1 11.2 11.8 10.7 8.1…
  18. 2Q 2020 Earnings Presentation – Phillips 66 – slide 18
    2Q 2020 Refining Margins Market vs. Realized ATLANTIC BASIN / EUROPE (/BBL, UNLESS OTHERWISE NOTED) Brent: 29.20 0.43 (1.55) 75% crude utilization 8.90 (5.82) (0.43) 1.53 17% market capture 2Q 2020 Configuration…
  19. 2Q 2020 Earnings Presentation – Phillips 66 – slide 19
    2Q 2020 Refining Margins Market vs. Realized GULF COAST (/BBL, UNLESS OTHERWISE NOTED) LLS: 30.07 2.50 (0.84) 79% crude utilization 5.12 (1.95) 7% market capture (4.47) 0.36 2Q 2020 Configuration Secondary Feedstock Other…
  20. 2Q 2020 Earnings Presentation – Phillips 66 – slide 20
    2Q 2020 Refining Margins Market vs. Realized CENTRAL CORRIDOR (/BBL, UNLESS OTHERWISE NOTED) WTI: 27.80 (0.43) 0.10 (0.80) (1.01) 73% crude utilization 7.92 5.78 73% market capture 2Q 2020 Configuration Secondary Feedstock…
  21. 2Q 2020 Earnings Presentation – Phillips 66 – slide 21
    2Q 2020 Refining Margins Market vs. Realized WEST COAST (/BBL, UNLESS OTHERWISE NOTED) ANS: 30.37 (1.10) (1.02) (1.14) 72% crude utilization 9.69 (1.38) 5.05 52% market capture 2Q 2020 Configuration Secondary Feedstock Other…
  22. 2Q 2020 Earnings Presentation – Phillips 66 – slide 22
    2Q 2020 Adjusted Loss 2Q 2020 VS. 2Q 2019 (MM) (178) (186) 1,379 560 30 (324) (1,850) (60) (19) 2Q 2019 Midstream Chemicals Refining Marketing Corporate Income Noncontrolling 2Q 2020 Adjusted & Specialties & Other Taxes…
  23. 2Q 2020 Earnings Presentation – Phillips 66 – slide 23
    2Q 2020 Midstream Adjusted Pre-Tax Income 2Q 2020 VS. 2Q 2019 (MM) (115) 423 (60) (3) 245 2Q 2019 Transportation NGL & Other DCP 2Q 2020 Adjusted Midstream Adjusted Pre-Tax Income Pre-Tax Income 130 83 32 2Q 2020…
  24. 2Q 2020 Earnings Presentation – Phillips 66 – slide 24
    2Q 2020 Chemicals Adjusted Pre-Tax Income 2Q 2020 VS. 2Q 2019 (MM) 275 (154) (23) (9) 89 2Q 2019 Olefins & Specialties, Other 2Q 2020 Adjusted Polyolefins Aromatics & Adjusted Pre-Tax Income Styrenics Pre-Tax Income 106 11…
  25. 2Q 2020 Earnings Presentation – Phillips 66 – slide 25
    2Q 2020 Refining Adjusted Pre-Tax Loss 2Q 2020 VS. 2Q 2019 (MM) 983 (478) (578) (867) (633) (161) 2Q 2019 Atlantic Gulf Central West Coast 2Q 2020 Adjusted Basin / Coast Corridor Adjusted Pre-Tax Income Europe Pre-Tax…
  26. 2Q 2020 Earnings Presentation – Phillips 66 – slide 26
    2Q 2020 Marketing & Specialties Adjusted Pre-Tax Income 2Q 2020 VS. 2Q 2019 (MM) (35) (25) 353 293 2Q 2019 Marketing Specialties 2Q 2020 Adjusted & Other Adjusted Pre-Tax Income Pre-Tax Income 259 34 2Q 2020 Second…
  27. 2Q 2020 Earnings Presentation – Phillips 66 – slide 27
    2Q 2020 Corporate & Other Adjusted Pre-Tax Loss 2Q 2020 VS. 2Q 2019 (MM) 2Q 2019 Net Interest Corporate 2Q 2020 Adjusted Expense Overhead Adjusted Pre-Tax Loss & Other Pre-Tax Loss (205) (224) (17) (2) Second Quarter…

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