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Can Phillips 66 (PSX) Q2 Earnings Surprise on Low Oil Price? - Analyst Blog

TALLGRASS ENERGY PARTNERS, LP Files SEC form 8-K, Results of Operations and Financial Condition

Phillips 66 PSX is expected to release second-quarter 2015 results before the opening bell on Friday, Jul 31.

The company surpassed the Zacks Consensus Estimate in three of the trailing four quarters, with an average positive surprise of 9.83%. In the last reported quarter, Phillips 66 beat the Zacks Consensus Estimate by 11 cents on robust performance by its Refining and Marketing segments.

Let’s see how things are shaping up for this announcement.

Factors to Consider

Crude price was low during the entire second quarter owing to a supply glut amid lackluster global demand. Now, since Phillips 66’s refining unit is a buyer of oil, the company is expected to generate significant earnings following low input cost.

At the same time, low oil prices have resulted in declining production as a result of spending cuts by majority of the upstream energy majors. This in turn could...


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