Phillips 66 (PSX) reported Q1 adjusted earnings Wednesday of $0.49 per diluted share, swinging from an adjusted loss of $0.90 a share a year earlier.
Analysts polled by FactSet expected a non-GAAP loss of $0.54 a share.
The company raised its annualized quarterly dividend by 7%, according to the statement.
Phillips 66 shares were 2.2% higher in premarket trading.
The World Bank, on Tuesday, warned the Middle East conflict is set to drive up global food costs, as surging energy prices lift fertilizer prices and strain agricultural output.Fertilizer prices are projected to rise 31% in 2026, including a sharp increase in urea prices, reducing affordability for farmers and threatening crop yields, the bank said.The bank added that up to 45 million more people are at risk of being pushed into acute food insecurity this year if the conflict persists, as higher input costs ripple through global food supply chains.The World Bank said the shock highlights how energy disruptions are feeding into food inflation, with the poorest populations the most exposed to rising costs.
Northern Oil and Gas (NOG) Q1 adjusted earnings late Tuesday of $0.74 per diluted share, down from $1.33 a year earlier.Analysts polled by FactSet expected $0.68.Revenue for the quarter ended March 31 was $5 million, compared with $602.1 million a year earlier.Analysts surveyed by FactSet expected $511.4 million.