{"id":471140,"date":"2021-04-05T16:33:07","date_gmt":"2021-04-05T20:33:07","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=471140"},"modified":"2021-04-05T16:33:07","modified_gmt":"2021-04-05T20:33:07","slug":"phillips-66-partners-provides-guidance-on-first-quarter-2021-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/phillips-66-partners-provides-guidance-on-first-quarter-2021-results\/","title":{"rendered":"Phillips 66 Partners Provides Guidance on First-Quarter 2021 Results"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwalignl { text-align: left }\n.bwalignr { text-align: right; list-style-position: inside }\n.bwblockalignl { margin-left: 0px; margin-right: auto }\n.bwcellpmargin { margin-bottom: 0px; margin-top: 0px }\n.bwpadl0 { padding-left: 0px }\n.bwpadl1 { padding-left: 5px }\n.bwpadr0 { padding-right: 0px }\n.bwrowaltcolor0 { background-color: #cceeff }\n.bwsinglebottom { border-bottom: solid black 1pt }\n.bwtablemarginb { margin-bottom: 10px }\n.bwvertalignb { vertical-align: bottom }\n.bwvertalignt { vertical-align: top }\n.bwwidth1 { width: 1% }\n.bwwidth100 { width: 100% }\n.bwwidth17 { width: 17% }\n.bwwidth20 { width: 20% }\n.bwwidth3 { width: 3% }\n.bwwidth59 { width: 59% }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>Phillips 66 Partners Provides Guidance on First-Quarter 2021 Results<\/b><\/p>\n<p>HOUSTON&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nPhillips 66 Partners LP (NYSE: PSXP) is providing guidance on results of operations for the first quarter of 2021 to reflect the Partnership\u2019s decision to exit the Liberty Pipeline project and the effects of recent winter storms on asset utilization and utility costs.\n<\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwpadl0\" colspan=\"5\" rowspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Financial Data<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" class=\"bwpadl1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n(millions of dollars, unaudited)\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth59\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td colspan=\"4\" class=\"bwvertalignb bwsinglebottom bwpadl0\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Quarter Ended<br \/>\n<br \/>March 31, 2021<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth59\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td colspan=\"4\" class=\"bwvertalignb bwsinglebottom bwpadl0\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Estimated Range<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth59\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td colspan=\"2\" class=\"bwvertalignb bwsinglebottom bwpadl0 bwalignr bwpadr0\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>Low<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwalignr bwpadr0 bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>High<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth59\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nNet income (loss) attributable to Phillips 66 Partners*\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth3\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwalignr bwwidth17\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(60)\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwalignr bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n10\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" class=\"bwpadl0 bwvertalignt\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\"><i><sup>*Includes an estimated impairment of $180 million to $210 million related to the Liberty Pipeline project.<\/sup><\/i><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p>\nThe Partnership has not completed its financial closing procedures for the first quarter of 2021, and actual results could vary from these preliminary estimates. Please see the information set forth below under \u201cCautionary Statement Regarding Forward-Looking Statements\u201d for additional information about the preliminary first-quarter 2021 results.\n<\/p>\n<p><b>About Phillips 66 Partners<\/b><\/p>\n<p>\nHeadquartered in Houston, Phillips 66 Partners is a growth-oriented master limited partnership formed by Phillips 66 to own, operate, develop and acquire primarily fee-based crude oil, refined petroleum products and natural gas liquids pipelines, terminals and other midstream assets. For more information, visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.phillips66partners.com&amp;esheet=52405700&amp;newsitemid=20210405005444&amp;lan=en-US&amp;anchor=www.phillips66partners.com&amp;index=1&amp;md5=a23af621fdc0607eb8ed878d0c25447b\">www.phillips66partners.com<\/a>.\n<\/p>\n<p class=\"bwalignc\"><b><sup>CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS<\/sup><\/b><\/p>\n<p><i><sup>This news release contains certain forward-looking statements as defined under the federal securities laws. The preliminary first-quarter 2021 financial information included in this press release are forward-looking statements. These forward-looking statements are based on management\u2019s expectations, estimates and beliefs as of the date of this press release, but are not guarantees of future performance or of actual first-quarter 2021 results. You should not unduly rely on the forward-looking statements as they involve certain risks, uncertainties and assumptions. Therefore, actual outcomes and results may differ materially from what is expressed or forecast in such forward-looking statements. Factors that could cause actual first-quarter 2021 results to differ materially from those described in the forward-looking statements include the fact that the company has not yet completed its quarterly financial statement close process. Additional developments and adjustments may arise between the date of this release and the time the financial information for the first-quarter 2021 period is finalized, which may cause the actual, final information to vary from the forecasted estimates contained in this release. <\/sup><\/i><\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210405005444r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20210405005444\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20210405005444\/en\/<\/a><\/span><\/p>\n<p>\nJeff Dietert (investors)<br \/>\n<br \/>832-765-2297<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:jeff.dietert@p66.com\">jeff.dietert@p66.com<\/a><\/p>\n<p>\nShannon Holy (investors)<br \/>\n<br \/>832-765-2297<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:shannon.m.holy@p66.com\">shannon.m.holy@p66.com<\/a><\/p>\n<p>\nThaddeus Herrick (media)<br \/>\n<br \/>855-841-2368<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:thaddeus.f.herrick@p66.com\">thaddeus.f.herrick@p66.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> United States North America Texas<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Finance Oil\/Gas Energy Professional Services Other Energy<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20210405005444\/en\/868944\/3\/Phillips_66_Partners_Logo_RGB.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Phillips 66 Partners Provides Guidance on First-Quarter 2021 Results HOUSTON&#8211;(BUSINESS WIRE)&#8211; Phillips 66 Partners LP (NYSE: PSXP) is providing guidance on results of operations for the first quarter of 2021 to reflect the Partnership\u2019s decision to exit the Liberty Pipeline project and the effects of recent winter storms on asset utilization and utility costs. Financial Data (millions of dollars, unaudited) \u00a0 Quarter Ended March 31, 2021 \u00a0 Estimated Range \u00a0 Low \u00a0 High Net income (loss) attributable to Phillips 66 Partners* $ (60) \u00a0 10 *Includes an estimated impairment of $180 million to $210 million related to the Liberty Pipeline project. The Partnership has not completed its financial closing procedures for the first quarter of 2021, and actual results could &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/phillips-66-partners-provides-guidance-on-first-quarter-2021-results\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Phillips 66 Partners Provides Guidance on First-Quarter 2021 Results&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-471140","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Phillips 66 Partners Provides Guidance on First-Quarter 2021 Results - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/phillips-66-partners-provides-guidance-on-first-quarter-2021-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Phillips 66 Partners Provides Guidance on First-Quarter 2021 Results - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Phillips 66 Partners Provides Guidance on First-Quarter 2021 Results HOUSTON&#8211;(BUSINESS WIRE)&#8211; Phillips 66 Partners LP (NYSE: PSXP) is providing guidance on results of operations for the first quarter of 2021 to reflect the Partnership\u2019s decision to exit the Liberty Pipeline project and the effects of recent winter storms on asset utilization and utility costs. Financial Data (millions of dollars, unaudited) \u00a0 Quarter Ended March 31, 2021 \u00a0 Estimated Range \u00a0 Low \u00a0 High Net income (loss) attributable to Phillips 66 Partners* $ (60) \u00a0 10 *Includes an estimated impairment of $180 million to $210 million related to the Liberty Pipeline project. 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Financial Data (millions of dollars, unaudited) \u00a0 Quarter Ended March 31, 2021 \u00a0 Estimated Range \u00a0 Low \u00a0 High Net income (loss) attributable to Phillips 66 Partners* $ (60) \u00a0 10 *Includes an estimated impairment of $180 million to $210 million related to the Liberty Pipeline project. 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