(Reuters) – Phillips 66 reported a bigger-than-expected first-quarter loss on Friday, as lower refining margins amid a widespread maintenance and turnaround activity across the U.S. refining sector weighed on its performance.
The Houston, Texas-based company posted an adjusted loss of 90 cents per share for the three months ended March 31, compared with analysts’ estimate of 72-cent-per-share loss, according to data compiled by LSEG.
(Reporting by Vallari Srivastava in Bengaluru; Editing by Maju Samuel)
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