Phillips 66 (PSX) Q1 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.319 Don Baldrige, Midstream and Chemicals, Rich Harbison, Refining, 00:00:05.319 -- 00:00:08.663 and Brian Mandel, Marketing and Commercial. 00:00:08.663 -- 00:00:13.651 Today's presentation can be found on the investor relations section of the Phillips 66 00:00:13.651 -- 00:00:18.918 website, along with supplemental financial and operating information. 00:00:18.918 -- 00:00:21.923 Slide 2 contains our safe harbor statement. 00:00:21.923 -- 00:00:25.788 We will be making forward-looking statements during today's call. 00:00:25.788 -- 00:00:29.647 Actual results may differ materially from today's comments. 00:00:29.647 -- 00:00:34.693 Factors that could cause actual results to differ are included here, as well as 00:00:34.693 -- 00:00:39.699 in our SEC filings. With that, I'll turn the call over to Mark. 00:00:39.699 -- 00:00:44.305 Thanks, Jeff. Welcome, everyone, to our first quarter earnings call. 00:00:44.305 -- 00:00:48.750 During the quarter, we continued to execute on our transformational strategy and deliver 00:00:48.750 -- 00:00:51.053 returns to our shareholders. 00:00:51.053 -- 00:00:56.279 By staying focused on what we can control, we made important progress across our 2027 00:00:56.279 -- 00:01:01.670 priorities, improving refining operations, enhancing our NGO value chain, 00:01:01.670 -- 00:01:04.932 and executing on our growth opportunities. 00:01:04.995 -- 00:01:09.322 Underpinned by the strength of cash flow contributions from our midstream business, we 00:01:09.322 -- 00:01:13.788 returned $716 million to shareholders this quarter. 00:01:13.788 -- 00:01:19.076 We did this in a challenged macro environment in refining, renewables, and chemicals. 00:01:19.076 -- 00:01:23.122 We also executed one of the largest spring tu...