Filing Flows › Phillips 66 (PSX) › Q2 2026 › vs Q1 2026
Phillips 66 (PSX) Q2 2026 vs Q1 2026 (quarter over quarter)
Phillips 66's revenue rose $18.5B (+57%) from $32.5B in Q1 2026 to $51.0B in Q2 2026. Operating margin 9.7% against 0.8% (+8.9 pts).
Phillips 66, Q2 2026: revenue $51.0B (+53% year over year), operating margin 9.7%, net earnings $3.9B, operating cash flow $7.3B. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 9.7% | 0.8% | +8.9 pts |
| Net margin | 7.6% | 0.7% | +6.9 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Revenue | $51.0B | $32.5B | $18.5B | +57% |
| Operating profit | $5.0B | $260M | $4.7B | 19× |
| Costs & expenses | $46.0B | $32.3B | $13.8B | +43% |
| Pre-tax earnings | $5.0B | $260M | $4.7B | 19× |
| Cost of revenue | $43.7B | $29.2B | $14.4B | +49% |
| SG&A | $538M | $537M | $1.0M | +0.2% |
| Other operating costs | $1.8B | $2.5B | −$696M | -28% |
| Net earnings | $3.9B | $219M | $3.7B | 18× |
| Income tax | $1.1B | $41.0M | $1.1B | 27× |
| Depreciation & amortization | $585M | $558M | $27.0M | +5% |
| Working capital & other | $2.8B | −$3.0B | $5.8B | — |
| Operating cash flow | $7.3B | −$2.3B | $9.5B | — |
Questions
How much did Phillips 66's revenue grow quarter over quarter in Q2 2026?
Phillips 66's revenue rose $18.5B (+57%) from $32.5B in Q1 2026 to $51.0B in Q2 2026. Operating margin 9.7% against 0.8% (+8.9 pts).