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Phillips 66 (NYSE: PSX) has announced an additional
Phillips 66 (NYSE: PSX) announced a $500,000 contribution to the American Red Cross to aid Hurricane Ida relief efforts in southeastern Louisiana. The hurricane, which struck on August 29, caused widespread devastation and power outages. All of Phillips 66's nearly 500 employees in the affected area are confirmed safe. The American Red Cross expressed gratitude for the support, highlighting its importance in providing shelter and assistance to thousands impacted by the disaster. Phillips 66, based in Houston, operates across energy sectors with $57 billion in assets as of June 30, 2021.
Phillips 66 Partners LP (NYSE: PSXP) reported second-quarter 2021 earnings of $225 million or $0.91 per diluted common unit, up from a loss of $18 million in Q1. Cash from operations stood at $286 million, with distributable cash flow of $267 million. Adjusted EBITDA rose to $337 million, aided by higher throughput and lower utility costs. The board declared a cash distribution of $0.875 per common unit. Construction of the C2G Pipeline continues, expected to begin operations in Q4 2021, reinforcing the company’s stable financial position.
Phillips 66 Partners LP (NYSE: PSXP) declared a second-quarter 2021 cash distribution of $0.875 per common unit, translating to an annualized rate of $3.50 per unit. This distribution is scheduled for payment on August 13, 2021, to unitholders on record as of July 30, 2021. Phillips 66 Partners operates as a growth-oriented master limited partnership focused on owning and managing primarily fee-based midstream assets, including pipelines and terminals for crude oil, refined products, and natural gas liquids.
Phillips 66 Partners (NYSE: PSXP) has updated the timing for its conference call regarding second-quarter earnings. The call is now scheduled for 3 p.m. EDT on August 3, 2021. During this conference, management will discuss the financial results for the second quarter of 2021 and provide insights into strategic initiatives. The financial results will be made available prior to the call. Investors can access the webcast via the Phillips 66 Partners Investors site.
Phillips 66 Partners (NYSE: PSXP) will host a webcast on Aug. 3 at 2 p.m. EDT to discuss its second-quarter 2021 financial results, released earlier that day. The session aims to provide insights into the partnership's strategic initiatives. Investors can access the webcast through the Events and Presentations section on their investor website. A replay will be available shortly after, alongside a transcript to be provided later.
Phillips 66 Partners LP (NYSE: PSXP) reported a first-quarter 2021 loss of $18 million, or $0.13 per diluted common unit, as cash from operations reached $227 million. Adjusted EBITDA declined to $289 million from $318 million in the previous quarter, driven by severe winter storms and a $198 million impairment linked to exiting the Liberty Pipeline project. The company declared a cash distribution of $0.875 per common unit. As of March 31, 2021, total debt was $3.9 billion, with $299 million available under its credit facility.
Phillips 66 Partners LP (NYSE: PSXP) has declared a first-quarter 2021 cash distribution of $0.875 per common unit, amounting to $3.50 on an annualized basis. This distribution is set to be paid on May 14, 2021, to unitholders recorded by April 30, 2021. Phillips 66 Partners is a growth-oriented master limited partnership focused on managing crude oil, refined petroleum products, and natural gas liquids pipelines and terminals. The company aims to enhance its shareholder value through strategic asset management.
Phillips 66 Partners LP (NYSE: PSXP) announced preliminary results for Q1 2021, reflecting challenges following the decision to exit the Liberty Pipeline project and the impact of recent winter storms on operations. The estimated net income attributable to Phillips 66 Partners is projected to be between $(60) million and $10 million, including an expected impairment of $180 million to $210 million due to the pipeline exit. The final results may differ as the financial closing process is still underway.
Phillips 66 Partners LP (NYSE: PSXP) will host a webcast on April 30 at 2 p.m. EDT to discuss its first-quarter 2021 financial results and strategic initiatives. The financial results will be released earlier that day. Investors can access the webcast through the Events and Presentations section of the Phillips 66 Partners Investors site. A replay will be available shortly after the live call, with a transcript to follow later. Phillips 66 Partners focuses on owning and operating fee-based pipelines, terminals, and midstream assets.
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