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Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions.
| Analyst | Firm | Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Neil Mehta | Goldman Sachs | 13 questions · 8% challenging |
| Manav Gupta | UBS | 13 questions · 0% challenging |
| Doug Leggate | Wolfe Research | 12 questions · 33% challenging |
| Theresa Chen | Barclays | 10 questions · 0% challenging |
| Jason Gabelman | TD Cowen | 10 questions · 0% challenging |
| Matthew Blair | Tudor, Pickering, Holt | 9 questions · 11% challenging |
| Paul Cheng | Scotiabank | 7 questions · 29% challenging |
| Steve Richardson | Evercore ISI | 7 questions · 0% challenging |
| Phillip Jungwirth | BMO Capital Markets | 7 questions · 0% challenging |
| Joe Laetsch | Morgan Stanley | 7 questions · 0% challenging |
| Firm | Analysts | Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| UBS | 1 analyst | 13 questions · 0% challenging |
| Goldman Sachs | 1 analyst | 13 questions · 8% challenging |
| Wolfe Research | 1 analyst | 12 questions · 33% challenging |
| TD Cowen | 1 analyst | 10 questions · 0% challenging |
| Barclays | 1 analyst | 10 questions · 0% challenging |
| Piper Sandler | 2 analysts | 9 questions · 11% challenging |
| Tudor, Pickering, Holt | 1 analyst | 9 questions · 11% challenging |
| Morgan Stanley | 1 analyst | 7 questions · 0% challenging |
Phillips 66 reported adjusted earnings of $0.49 per share as Strait of Hormuz closure created commodity tailwinds but $839 million in mark-to-market derivative hedge losses masked the benefit. Worldwide refining market capture reached a record 138%, and CPChem was positioned for elevated polyethylene margins. Management reiterated commitment to returning greater than 50% of net operating cash flow to shareholders while progressing toward the $5.50 cost-per-barrel target.
Capital Allocation | Competitive Dynamics | Margin | Revenue Growth | Capex Investment | M&A | Pricing | Regulation Policy | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 6 | 3 | 5 | 2 | 1 | 5 | 3 | 5 |
| 2025Q1 | 8 | 2 | 3 | 1 | 1 | 4 | 4 | 2 |
| 2025Q2 | 7 | 7 | 5 | 4 | 1 | 4 | 2 | 3 |
| 2025Q3 | 3 | 4 | 5 | 2 | 5 | 2 | 3 | 2 |
| 2025Q4 | 1 | 4 | 4 | 4 | 5 | 2 | 5 | |
| 2026Q1 | 3 | 7 | 4 | 5 | 5 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Capital Allocation | 6 | 8 | 7 | 3 | 1 | 3 |
| Competitive Dynamics | 3 | 2 | 7 | 4 | 4 | 7 |
| Margin | 5 | 3 | 5 | 5 | 4 | 4 |
| Revenue Growth | 2 | 1 | 4 | 2 | 4 | 5 |
| Capex Investment | 1 | 1 | 1 | 5 | 5 | 5 |
| M&A | 5 | 4 | 4 | 2 | 2 | |
| Pricing | 3 | 4 | 2 | 3 | 5 | |
| Regulation Policy | 5 | 2 | 3 | 2 |
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Calendar quarter Q1 2026Earnings call Apr 29, 2026
FY2026 Q1 in brief
Phillips 66 reported adjusted earnings of $0.49 per share as Strait of Hormuz closure created commodity tailwinds but $839 million in mark-to-market derivative hedge losses masked the benefit.
Newest quarter FY2026 Q2 is part of Pro ·
Sources. Tellvest earnings-call sentiment score for Phillips 66 (PSX), FY2026 Q1: 8/10. Scores: Phillips 66’s public earnings-call transcripts and SEC-reported results — the base band is anchored to reported GAAP revenue growth; transcript, EPS and guidance adjustments are applied separately (documented exceptions apply to a few issuers). Price: PSX daily closing prices for the trailing year; dots mark earnings calls, colored by that quarter’s score; the newest quarter’s score is part of Tellvest Pro. How to read a company earnings-call score.
What PSX and other companies said about each other on FY2026 Q1 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“KMI and Phillips 66 recently concluded a successful open season on the proposed Western Gateway Pipeline system.”
Kinder Morgan and Phillips 66 completed a successful open season on the proposed Western Gateway Pipeline JV and are negotiating joint-venture terms toward FID, a partner signal for Phillips 66's refined-products logistics.
“as long leave that to go to Arizona on the P66 project.”
ONEOK frames Phillips 66's Western Gateway (P66) pipeline project as a competing NGL egress route it could feed or benefit from.
GAAP revenue YoY +11.7% → base 7. The base score is anchored to the GAAP revenue YoY band before transcript, EPS, and guidance adjustments.
“to complete the JV arrangements with Kinder Morgan as well as execute the transportation agreements with the third-party shippers”
Phillips 66 is finalizing a joint venture with Kinder Morgan on the Western Gateway refined-products pipeline, targeting FID by mid-to-late summer for a 2029 in-service date. Positive signal for KMI on a new-build growth project.
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| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Net margin | FCF |
|---|---|---|---|---|---|---|
| FY2024 Q4 | $33.71B | -11.4% | $0.01 | -99.7% | 0.0% | $692M |
| FY2025 Q1 | $30.50B | -15.3% | $1.18 | -31.8% | 1.6% | $-236M |
| FY2025 Q2 | $33.17B | -12.9% | $2.15 | -9.7% | 2.6% | $258M |
| FY2025 Q3 | $34.51B | -2.2% | $0.32 | -61.0% | 0.4% | $637M |
| FY2025 Q4 | $34.02B | +0.9% | $7.17 | — | 8.5% | $2.07B |
| FY2026 Q1Selected | $34.08B | +11.7% | $0.51 | -56.8% | 0.6% | $-2.85B |
| FY2026 Q2 | $51.00B | +53.7% | $9.55 | +344.2% | 7.5% | $7.84B |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
PSX Phillips 66 | 8 | +11.7% | |
| MPC Marathon Petroleum | 8 | +9.7% | |
| VLO Valero Energy | 7 | +7.0% |