U.S. refiner Phillips 66's profit plunges 43 pct

Fri Jan 29, 2016 7:10am EST
 
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Jan 29 (Reuters) - U.S. refiner Phillips 66 reported a 43 percent fall in quarterly profit, hurt by lower earnings from its midstream and chemicals businesses.

The company's consolidated earnings fell to $650 million, or $1.20 per share, in the fourth quarter ended Dec. 31, from $1.15 billion, or $2.05 per share, a year earlier.

Adjusted earnings, excluding special items of $60 million, were $710 million, or $1.31 per share. (Reporting by Amrutha Gayathri in Bengaluru; Editing by Maju Samuel)