October 26, 2018 / 11:08 AM / a month ago

U.S refiner Phillips 66's third-quarter profit surges

Oct 26 (Reuters) - U.S. independent refiner Phillips 66 reported a 70 percent jump in third-quarter adjusted profit on Friday, benefiting from higher refining margins.

The company's adjusted earnings rose to $1.46 billion, or $3.10 per share, in the third quarter, from $858 million, or $1.66 per share, a year earlier.

Consolidated earnings rose to $1.49 billion from $823 million. (Reporting by Laharee Chatterjee in Bengaluru; Editing by Shounak Dasgupta)

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