How did PSX's Q4 2024 earnings surprise investors?

Phillips 66's (PSX) Q4 2024 earnings fell short of investor expectations, as evidenced by the EPS and revenue surprises:

1. **Earnings Per Share (EPS) Surprise**: Phillips 66 reported an EPS of $0.01 for Q4 2024, which was a significant decline from the previous year's EPS of $1.16 for the same quarter. This resulted in an EPS surprise of -1.15, indicating a substantial negative surprise. The decline in EPS can be attributed to various factors, including operational challenges and market conditions.

|code|Ticker|Name|Date|Diluted EPS YoY|Diluted EPS|market_code|
|---|---|---|---|---|---|---|
|PSX|PSX.N|Phillips 66|2023 Q4||2.86|169|
|PSX|PSX.N|Phillips 66|2024 Q1|-58.80952380952381|1.73|169|
|PSX|PSX.N|Phillips 66|2024 Q2|-36.021505376344095|2.38|169|
|PSX|PSX.N|Phillips 66|2024 Q3|-82.51599147121536|0.82|169|

|code|Ticker|Name|Date|EPS Surprise YoY|EPS Surprise|market_code|
|---|---|---|---|---|---|---|
|PSX|PSX.N|Phillips 66|20231231|314.28571428571433|0.75|169|
|PSX|PSX.N|Phillips 66|20240331|-163.07692307692307|-0.41|169|
|PSX|PSX.N|Phillips 66|20240630|-177.4193548387097|-0.24|169|
|PSX|PSX.N|Phillips 66|20240930|392.30769230769226|0.38|169|

2. **Revenue Surprise**: The company's total revenue for Q4 2024 was $33.99 billion, which was also below the expected revenue. The revenue surprise for the quarter was -1.64 billion, indicating a significant negative surprise. This suggests that the actual revenue was notably lower than what investors had anticipated.

|code|Ticker|Name|Date|Total Revenue YoY|Total Revenue|market_code|
|---|---|---|---|---|---|---|
|PSX|PSX.N|Phillips 66|2023 Q4|-5.299826435573374|3.8739E10|169|
|PSX|PSX.N|Phillips 66|2024 Q1|3.8388098834392546|3.6436E10|169|
|PSX|PSX.N|Phillips 66|2024 Q2|8.87241186345831|3.8911E10|169|
|PSX|PSX.N|Phillips 66|2024 Q3|-10.314468528346808|3.6163E10|169|

Investors were likely disappointed by the significant declines in both EPS and revenue, which may have led to concerns about the company's financial performance and future prospects.