Phillips 66 (PSX) has reported first-quarter 2024 adjusted earnings of $1.90 per share, which missed the Zacks Consensus Estimate of $2.05. The bottom line was significantly lower than the year-ago quarter’s $4.21.Total quarterly revenues of $36.4 billion beat the Zacks Consensus Estimate of $31 billion. The top line also improved from the year-ago quarter’s $35.1 billion.Weak quarterly earnings can be primarily attributed to lower refining margins worldwide and increased expenses.Segmental ResultsMidstream ...