Phillips 66 Delivers Strong Q2 Despite Weakness In Midstream Segment
- PSX announced Q2 earnings ($1.51) that were, according to Thomson Reuters, shy of the $1.70 analysts were expecting.
- The "miss" was largely attributable to lower Midstream results due to weaker propane prices.
- However, PSX posted record chemical results and its core refining business was very strong.
- Phillips remains one of the best dividend growth stocks in the energy industry and a long-term buy-n-hold stock.