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News > Companies
Phillips year looks strong
April 11, 2001: 1:09 p.m. ET

Phillips Petroleum expects to meet or beat consensus estimates for 2001
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NEW YORK (CNNfn) - Phillips Petroleum expects to meet or beat analysts' expectations for 2001 because of increased production from an Alaskan acquisition.

Phillips (P: up $0.16 to $57.75, Research, Estimates) said Wednesday it plans to meet or surpass consensus earnings estimates of $6.92 per share for the year, according to First Call, and also announced its shareholders have approved its acquisition of Tosco Corp. (TOS: up $0.41 to $44.51, Research, Estimates).

"We expect first-quarter net operating income to be up 75-85 percent from the same period last year," said Jim Mulva, Phillips chairman and CEO, in a statement. "The expected increase is due primarily to increased production as a result of the company's second-quarter 2000 Alaskan acquisition."

Phillips agreed to buy Tosco for $7 billion in stock in February. Tosco shareholders also approved the acquisition. graphic





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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer.

Morningstar: © 2014 Morningstar, Inc. All Rights Reserved.

Factset: FactSet Research Systems Inc. 2014. All rights reserved.

Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved.

Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2014 and/or its affiliates.