Edwyn
| Metric | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Revenue | $64,129 | $111,476 | $169,990 | $147,399 | $143,153 |
| Gross Profit | $6,422 | $9,374 | $20,058 | $19,313 | $13,191 |
| Operating Income | N/A | N/A | N/A | N/A | N/A |
| Net Income | -$3,975 | $1,317 | $11,024 | $7,015 | $2,117 |
Over the five-year period, Phillips 66’s revenue and gross profit experienced significant volatility. In 2020, the company reported modest revenue of 64,129 million USD and a gross profit of 6,422 million USD, coupled with a net loss of 3,975 million USD. The turnaround began in 2021, with revenues surging by approximately 74% to 111,476 million USD and gross profit rising to 9,374 million USD, leading to a recovery into profitability with net income of 1,317 million USD. The upward trend continued markedly in 2022, where revenues reached 169,990 million USD and gross profit more than doubled to 20,058 million USD. This jump was accompanied by a substantial rise in net income to 11,024 million USD—a noteworthy year-over-year surge of roughly 735% from 2021. However, the favorable trend did not persist steadily. In 2023, revenue contracted by nearly 13% to 147,399 million USD, even though gross profit remained relatively high at 19,313 million USD. Net income also declined to 7,015 million USD, indicating some pressure on profitability. The downward swing continued into 2024, with revenues declining further to 143,153 million USD and gross profit experiencing a significant drop of about 32% to 13,191 million USD. Net income fell sharply to 2,117 million USD. Given that operating income figures were consistently reported as zero across all years, attention centers on these key metrics, suggesting that while Phillips 66 experienced robust growth and recovery between 2020 and 2022, recent declines may signal tightening margins or changing market dynamics in the energy sector. Overall, the financial health appears mixed, with early strong performance offset by recent headwinds that warrant close monitoring for improved sustainability.
This analysis is for informational purposes only and does not constitute financial advice or recommendations for any investment decisions. Please consult with a qualified financial professional for personalized guidance.