PHILLIPS 66

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Phillips 66 posts third straight quarterly loss as virus dents fuel demand

10/30/2020 | 06:06am

Oct 30 (Reuters) - Phillips 66 reported its third straight quarterly loss on Friday, with the COVID-19 pandemic crippling demand for fuel and as the U.S. refiner took an impairment charge of $798 million.

The Houston, Texas-based company reported a net loss of $799 million, or $1.82 per share, for the third quarter ended Sept. 30, from a year-ago profit of $712 million, or $1.58 per share. (Reporting by Arunima Kumar in Bengaluru, Editing by Sherry Jacob-Phillips)

© Reuters 2020
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