opening this up for reactions once we release in the morning
13 replies (most recent on top)
P66 should bundle up the DCP Colorado assets and sell them for whatever they can get. Most of the NGL stays off P66 pipes and fracs, and Colorado is making it very expensive to do business in it with the air regulation and green house gas targets.
@nh and somehow they took over our midstream operations.
Where is the 3.7 billion EBITDA that MS was supposed to make? You can't even tell in the reporting they've done for the first three quarters. They are underperforming with the dog they purchased in DCP. What a joke of a company DCP was. Unsafe, poorly maintained assets, fires galore and unethical management. The only take away I have (unfortunately, I still have a bunch of their stock and want to sell) is that it's not as bad as it could be.
No subtitles! The Scottish guy is getting stalked!!
Subtitles next time please!
Y’all take stuff too seriously on here. I’m tuning in next quarter for sure!
The L&D sports center–style performance was such a fun way to cover the earnings release! It was lighthearted, genuinely funny, and the presenters didn’t take themselves too seriously. We need more presenters like that—able to make even the most boring topics engaging and entertaining
All told, not a bad quarter. Unfortunately, all refiners had better quarters. We are also not outperforming our competitors in the equity market since announcement. So what does that tell you?
It tells me that we did what we should have done. That is positive as we have not been able to demonstrate that consistently. And that is the problem.
We have dramatically underperformed the other refiners for the past year and the market does not believe the story we are pitching. Refining fundamentals have improved and margins have expanded and competitors are running away from us. This is because the market does not believe we can execute and deliver consistently.
The quarterly result is two quarters in a row where we have delivered in line with expectations. We need another 3-4 before we can really say we have turned a corner. Here is to more consistency!
@gk L&D has been an insult since its creation. Another casualty of BT. They recognize it themselves and are already starting to shuffle work around. Talk to any of the site L&D folks.
The L&D performance was a missed opportunity and truly insulting to the employees at Phillips 66. That was an opportunity to explain to all employees how to interpret the earnings report.
@dc said a disgruntle underperforming L&D employee.
Anyone watch the L&D performance?
It’s good that the company made money but it’s just a result of higher margins rather than anything Go Go has done.
I find the 99% run rate hard to believe.
All in all, a lot better than I expected. $12.15 realized margin / bbl is pretty good.
Can't wait for the "we had good results but we need to keep working on BT, because when it's raining isn't the time to fix your roof. We need to drive continuous improvement" speech