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Phillips 66 (PSX) Q4 FY2021 earnings: revenue $32.6 billion, up 98.7% on the year

Phillips 66 (PSX) reported revenue of $32.6 billion for Q4 FY2021, the quarter ended 31 December 2021, up 98.7% on the same quarter a year earlier. Net income was $1.3 billion, and diluted earnings per share $2.89. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2022.

Revenue
$32.6 billion
+98.7% on the year · +7.8% on the quarter
Q1 FY2020Q4 FY2021
Operating margin
n/a
Q1 FY2020Q4 FY2021
Net income
$1.3 billion
+216.7% on the quarter
Q1 FY2020Q4 FY2021
Diluted EPS
$2.89
+217.6% on the quarter
Q1 FY2020Q4 FY2021

this quarterthe same quarter a year earlierHover a bar for its figure.

Income statement (profit and loss)

$ millionQ4 FY2021Q3 FY2021Q4 FY2020On the quarterOn the yearLast 8 quarters
Revenue32,60430,24316,409+7.8%+98.7%
Cost of revenue29,290n/an/a
Gross profit3,314n/an/a
Gross margin10.2%n/an/a
Selling, general and administrative479n/an/a
Income tax256n/an/a
Net income1,273402-539+216.7%
Net margin3.9%n/an/a
Diluted EPS$2.89$0.91-$1.23+217.6%
$ million except per share.
Read moreFourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ millionQ4 FY2021Q3 FY2021Q4 FY2020On the quarterOn the yearLast 8 quarters
Operating cash flow1,800n/an/a
Cash from investing-557n/an/a
Cash from financing-978n/an/a
Depreciation and amortisation155361358-57.1%-56.7%
Buybacks0.0n/an/a
Dividends paid403n/an/a
Diluted shares, weighted440m440mn/a-0.0%
Shares outstanding at period end438m438m437m+0.1%+0.4%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ millionQ4 FY2021Q3 FY2021Q4 FY2020On the quarterOn the yearLast 8 quarters
Shareholders' equity19,16618,13918,984+5.7%+1.0%
Non-controlling interest2,471n/an/a
Debt14,25114,91015,716-4.4%-9.3%
Operating lease liabilities725n/an/a
Finance lease liabilities257n/an/a
Other liabilities18,724n/an/a
Total liabilities and equity55,594n/an/a
Goodwill1,484n/an/a
Intangible assets813n/an/a
Cash and equivalents3,1472,8972,514+8.6%+25.2%
Receivables7,470n/an/a
Inventory3,394n/an/a
Other assets39,286n/an/a
Total assets55,594n/an/a

Questions

What was Phillips 66's revenue in Q4 FY2021?

Phillips 66 (PSX) reported revenue of $32.6 billion for Q4 FY2021, the quarter ended 31 December 2021, up 98.7% on the same quarter a year earlier.

How much did Phillips 66 earn in Q4 FY2021?

Net income for Q4 FY2021 was $1.3 billion, and diluted earnings per share $2.89.

When did Phillips 66 report Q4 FY2021 results?

Phillips 66 filed its 10-K for the year that ended with the quarter on 18 February 2022; the fourth quarter is the year less the first three.

Quarterly results, the last 20 quarters

Q4 FY2021 *Q1 FY2022Q2 FY2022Q3 FY2022Q4 FY2022 *Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026
Revenue32,60436,17948,57744,95540,27934,39635,09039,64338,27035,81138,12935,52833,68530,43033,32334,51534,10832,54051,00450,540
Cost of revenue29,29033,49542,64538,64635,14629,34130,57134,33033,84432,38634,62832,19430,75427,66029,07730,21929,13729,21643,66440,814
Gross profit3,3142,6845,9326,3095,1335,0554,5195,3134,4263,4253,5013,3342,9312,7704,2464,2964,9713,3247,3409,726
Gross margin10%7%12%14%13%15%13%13%12%10%9%9%9%9%13%12%15%10%14%19%
SG&A4794334886176306055936696585575521,194511519582792544537538625
Net income1,2735823,1675,3911,8841,9611,6972,0971,2607481,0153468.04878771332,9062073,8475,616
Net margin4%2%7%12%5%6%5%5%3%2%3%1%0%2%3%0%9%1%8%11%
Diluted EPS$2.89$1.29$6.53$11.16$4.29$4.20$3.72$4.69$2.87$1.73$2.38$0.82$0.01$1.18$2.15$0.32$7.17$0.51$9.55$14.08
Operating cash flow1,8001,1361,7833,1444,7501,1999552,6852,190-2362,0971,1321,1981878451,1782,752-2,2647,2597,281
Buybacks0.00.066.06947538001,3097521,1531,1648408006472474192672742693792,273
Dividends paid403404467466456486474465457448485477472469487484482509508504
Shares outstanding438m481m481m473m464m459m445m440m428m424m419m413m408m408m404m403m401m401m399m390m
Filing10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-K for the period ended 31 December 2021, filed 18 February 2022: the filing.