Phillips 66 and Activist Elliott Set to Split Heated Boardroom Battle
Elliott had been pushing for four new board seats on the oil refiner's board.
Phillips 66 and Activist Elliott Set to Split Heated Boardroom Battle
Elliott had been pushing for four new board seats on oil refiner's board.
Phillips 66 trims portfolio with German and Austria retail sale amid Elliott pressure
Phillips 66 said on Thursday it will sell a 65% stake in its German and Austrian fuel retail business to a private equity-led consortium, valuing the unit at $2.8 billion, as the U.S. refiner streamlines its portfolio under pressure from activist investor Elliott Investment Management.
Elliott Wins Backing from Proxy Advisers in Phillips 66 Boardroom Battle
The activist investor won support from influential proxy advisory firm ISS.
Phillips 66: Refining Turn & Activist Pressure Create Opportunity
Phillips 66 shares have underperformed, losing about 25% over the past year, due to weak refining margins and macroeconomic challenges. Q1 results were weak, with a $0.90 loss per share, but turnaround work should improve margins and throughput in the near term. The company is reducing debt and focusing on shareholder returns, with potential upside from asset sales and improved refining margins.
Phillips 66 (PSX) Reports Q1 Earnings: What Key Metrics Have to Say
The headline numbers for Phillips 66 (PSX) give insight into how the company performed in the quarter ended March 2025, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Phillips 66 Posts Wider-Than-Expected Q1 Loss on Lower Refining Volumes
Lower realized refining margins worldwide hurt PSX Q1 earnings.
Phillips 66 Reports Wider-Than-Expected Adjusted Loss Amid Elliott Pressure
Shares of Phillips 66 (PSX), under pressure from activist Elliott Investment Management, fell Friday after the energy firm posted a wider-than-expected adjusted loss.
US refiner Phillips 66 posts bigger-than-expected quarterly loss
Phillips 66 reported a bigger-than-expected first-quarter loss on Friday, as lower refining margins amid a widespread maintenance and turnaround activity across the U.S. refining sector weighed on its performance.
Exploring Analyst Estimates for Phillips 66 (PSX) Q1 Earnings, Beyond Revenue and EPS
Besides Wall Street's top -and-bottom-line estimates for Phillips 66 (PSX), review projections for some of its key metrics to gain a deeper understanding of how the company might have fared during the quarter ended March 2025.
What's in Store for Phillips 66 This Q1 Earnings Season?
Weaker refining margins, lower crude prices and increasing costs are likely to have adversely impacted PSX's Q1 earnings.
Phillips 66 fires back at Elliott over Citgo conflict of interest amid board fight
Phillips 66 is arguing that Elliott Investment Management should back down from its push to break up the energy company because the activist investor is conflicted from a separate effort to acquire one of Phillips 66's rivals, according to a letter seen by Reuters.
