Phillips 66 to Release Third-Quarter Results October 28
The energy company will host a management webcast to discuss its latest financial performance on October 28, 2026.
Updated on Oct. 28, 2026 in Oil and Gas
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Phillips 66 is set to report its third-quarter financial results on October 28, 2026. Management will host a webcast at noon ET that day to discuss the company's performance following a period of high domestic refining activity.
Why it matters
The company's performance follows a broader trend of record-high U.S. refinery utilization, which reached 95% capacity between May and September 2026. This period saw processing levels return to their highest volume since 2019 as market crack spreads widened significantly compared to the previous year.
Phillips 66 reported total second-quarter earnings of $3.847 billion, or $9.55 per diluted share. Its refining segment realized a margin of $24.08 per barrel with a clean-product yield of 86% during that period.
The players
Phillips 66
Phillips 66 is a diversified energy manufacturing and logistics company with significant operations in refining and midstream services.
WRB Refining LP
WRB Refining LP is a refining partnership that saw Phillips 66 acquire its remaining 50% interest effective in 2025.
The details
Phillips 66 has been consolidating results from its Borger and Wood River refineries since October 1, 2025. Pretax refining income has benefited from increased market crack spreads, with gasoline spreads doubling and distillate and jet-fuel spreads nearly tripling relative to year-earlier levels.
Timeline
1998 marked the previous high for May-to-September refinery utilization.
2019 was the previous high for third-quarter crude processing.
October 1, 2025, saw the consolidation of the Borger and Wood River refineries.
May through September 2026 saw refineries operate at 95 percent capacity.
October 28, 2026, is the date of the earnings release and management webcast.
Market Landscape
The company's operational performance fits into a broader industry cycle of maximized refinery output not seen since 1998. This level of activity reflects a sector-wide push to capitalize on historically wide crack spreads that have dominated the 2026 fiscal year.
The sustained high utilization of domestic refineries directly influences the supply side of fuel costs for American consumers. Investors should look to the upcoming earnings report for guidance on whether these high margins will continue to affect retail fuel pricing.
The takeaway
The energy sector is currently benefiting from rare, multi-year highs in refinery productivity and product spreads. Investors can use the upcoming earnings call to assess whether these peak utilization rates are sustainable as the company integrates its recent refinery acquisitions.
What happens next
Phillips 66 will hold a management webcast to discuss its third-quarter financial results at 12:00 PM ET on October 28, 2026.
Further reading
For more background on the energy sector, visit the Oil and Gas section.
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