🔹 Adj. EPS: -$0.15 (Est. -$0.25) 🟢
🔹 Adj. Pre-Tax Loss: -$60M (Est. -$119M) 🟢
🔹 Revenue: Not Provided (Est. $32.21B)
🔹 Midstream Adj. Pre-Tax Income: $708M (Est. $673.8M) 🟢
🔹 Adjusted EBITDA: $1.13B (Est. $1.05B) 🟢
🔹 Operating Cash Flow: $1.20B (Est. $1.10B) 🟢
🔹 Free Cash Flow: Not Provided (Est. $258.6M)
🔹 Capital Expenditures: $506M (Est. $576.07M) 🟡
Operational Metrics:
🔹 Crude Capacity Utilization: 94% (In line with industry)
🔹 Clean Product Yield: 88% (Record High)
🔹 Pipeline Throughput (Y-Grade to Market): 759K B/D
🔹 Renewable Fuels Produced: 42K B/D
Financial & Capital Allocation:
🔹 Debt-to-Capital Ratio: 41% (vs. 40% in Q3)
🔹 Net Debt-to-Capital Ratio: 39%
🔹 Return of Capital to Shareholders: $1.12B (vs. $1.28B in Q3)
🔹 Share Buybacks: $647M (vs. $800M in Q3)
🔹 Dividend Payments: $472M
Strategic & Guidance Updates:
🔹 EPIC NGL Acquisition: Strengthening Permian & Gulf Coast footprint
🔹 Debt Reduction Target: Lowering total debt to $17B by 2027
🔹 Cost Reduction Initiative: $5.50 per barrel in Refining by 2027
🔹 Shareholder Return Commitment: >50% of operating cash flow
🔹 Midstream & Chemicals Growth: Targeting $1B Adj. EBITDA increase by 2027
CEO Mark Lashier's Commentary:
🔸 "We achieved our strategic goals for shareholder distributions and asset dispositions."
🔸 "Refining performance improved with record clean product yields and cost reductions."
🔸 "Our focus remains on disciplined growth, debt reduction, and shareholder value."