Phillips 66’s Revenue Breakdown by Segment (2016-2023)

This statistic highlights Phillips 66’s Revenue Breakdown by Segment, split across Marketing and Specialties, Refining, Midstream, Chemicals, and Corporate and others, reported on a quarterly basis from Q1 2016 onwards.

Phillips 66’s Revenue Breakdown by Segment

The following table highlights Phillips 66’s Revenue by Segment

(All figures in millions, except percentages)

Phillips 66’s total revenue increased from $15,929.00 million in Q3 2020 to $30,243.00 million in Q3 2021, indicating an 89.86% growth on a year-on-year basis. The revenue in Q3 2021 increased by $3,241.00 million which is a 12% increase compared to the previous Q2 2021.

Phillips 66’s consists of the following segments:

• Marketing and Specialties:

The marketing and Specialties segment includes purchases for resale and markets refined petroleum products, mainly in the United States and Europe. In addition, this segment also includes the manufacturing and marketing of specialty products.

Phillips 66’s revenue from Marketing and Specialties increased by 91.59% from $10,760.00 million in Q3 2020 to $20,615.00 million in Q3 2021 on a year-on-year basis. It also grew by $2,671.00 million which is a 14.89% increase compared to $17,944.00 million earned in Q2 2021. This segment contributed to 68.16% of the company’s total revenue.

• Refining:

This segment of Phillips 66 refines crude oil and other feedstocks. These are refined into petroleum products, such as distillates, aviation fuels, and gasoline, at 13 refineries in the United States and Europe.

Phillips 66’s revenue from Refining increased by 77.27% from $4,148 million in Q3 2020 to $7,353.00 million in Q3 2021 on a year-on-year basis. It also grew by $190.00 million which is a 2.65% increase compared to $7,163.00 million earned in Q2 2021. This segment contributed to 24.31% of the company’s total revenue.

• Midstream:

The midstream segment provides crude oil and refined petroleum product transportation, terminating and processing services, as well as natural gas and NGL transportation, storage, fractionation, processing, and marketing services, mainly in the United States. The Midstream segment includes master limited partnership (MLP), Phillips 66 Partners, as well as a 50% equity investment in DCP Midstream.

Phillips 66’s revenue from Midstream increased by 123.81% from $1,012.00 million in Q3 2020 to $2,265.00 million in Q3 2021 on a year-on-year basis. It also grew by $376.00 million which is a 19.90% increase compared to $1,889.00 million earned in Q2 2021. This segment contributed to 7.49% of the company’s total revenue.

• Chemicals:

The chemicals segment consists of Phillips 66’s 50% equity investment. It is the investment in Chevron Phillips Chemical Company LLC (CPChem), which manufactures and markets petrochemicals and plastics on a worldwide basis.

Phillips 66’s revenue from Chemicals has remained constant from $1.00 million in Q3 2020 to $1.00 million in Q3 2021 on a year-on-year basis. It also remained constant at $1.00 million earned in Q2 2021. This segment contributes to a very negligible percentage of the company’s total revenue.

• Corporate and Other:

The Corporate and Other segment comprises investment in new technologies, interest expense, general corporate overhead, and various other corporate activities. 

Phillips 66’s revenue from Corporate and Other business increased by 12.50% from $8.00 million in Q3 2020 to $9.00 million in Q3 2021 on a year-on-year basis. It also grew by $4.00 million which is an 80.00% increase compared to $5.00 million earned in Q2 2021. This segment contributed to 0.03% of the company’s total revenue.

About the Company

With more than 140 years of experience, Phillips 66 is well-positioned to help meet global energy needs. Phillips 66 is a company with unique businesses in Refining, Midstream, Chemicals, and Marketing and Specialties. Phillips 66 has its headquarters in Texas and was incorporated in 2011. The company holds a total of 501 active patents in 22 countries worldwide, including 391 active U.S. patents. Its stock is traded on the New York Stock Exchange under the “PSX” symbol. The Company’s business is organized into four operating segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). 

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