Phillips 66 10-Q filed Oct 28, 2026

Modified · Executive Overview

In the secondthird quarter of 2026, we reported earnings of $3.85.6 billion and generated $7.3 billion of cash from operations. We had net debt repayments and repurchases of $6.72.1 billion, funded capital expenditures and investments of $726680 million, paid dividends of $508504 million to common stockholders and repurchased $379 million2.3 billion of our common stock. The cash provided by operating activities was due to higher earnings, primarily driven by an increase in realized refining margins and favorable net working capital impacts. Net working capital reflected favorable impacts from the net timing of payments and collections, lower inventory, and higher taxes and other accruals, partially offset by higher prepaid expenses and other current assets. As of JuneSeptember 30, 2026, we had $4.15.8 billion of cash and cash equivalents and $6.4 billion of total committed capacity available under our credit facilities.