United States energy giant Phillips 66 Company said on Friday its earnings per share for the fourth quarter of fiscal 2018 stood at $4.82, marking a 38% decrease on an annual basis. The company said its consolidated earnings amounted to $2.2 billion, 31.2% less than the same quarter last year. The company said it generated $4.1 billion in operating cash flow and achieved a 99% utilization of refining.
Phillips 66 said its 2018 fll year earnings reached a figure of $5.6 billion, increasing by 9.8% compared ot 2017. The oil giant's annual earnings per share stood at $11.80, increasing by 19.8% annually. The company generated $7.6 billion in operating cash flow in 2018 and achieved 95% refining utilization.
"We delivered another quarter of strong operating and financial performance, capping a record year for Phillips 66," Chief Executive Officer Greg Garland said. "For the year, we sustained our industry-leading safety performance, achieved our highest ever earnings and operating cash flow, and rewarded our shareholders with substantial distributions," he added.
Phillips 66 shares surged 6.49% premarket following the earnings report release.
