Phillips 66
Q2 2022 Earnings Call
Jul 29, 2022, 12:00 p.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Welcome to the second quarter 2022 Phillips 66 earnings conference call. My name is Joanna, and I will be your operator for today's call. [Operator instructions] Please note that this conference is being recorded. I will now turn the call over to Jeff Dietert, vice president, investor relations.
Jeff, you may begin.
Jeff Dietert -- Vice President, Investor Relations
Good morning, and welcome to Phillips 66 second quarter earnings conference call. Participants on today's call will include Mark Lashier, president and CEO; Kevin Mitchell, EVP and CFO; Brian Mandell, EVP, marketing and commercial; Tim Roberts, EVP midstream; and Rich Harbison, SVP refining. Today's presentation materials can be found on the investor relations section of the Phillips 66 website, along with supplemental financial and operating information. Slide 2 contains our safe harbor statement.
We will be making forward-looking statements during today's call. Actual results may differ materially from today's comments. Factors that could cause actual results to differ are included here as well as in our SEC filings. Before we begin our discussion, I would like to highlight that we will be hosting an investor day in New York on November 9.
With that, I'll turn it over to Mark.
Mark Lashier -- President and Chief Operating Officer
Thanks, Jeff. It's great to be here with you today as president and CEO. As I shared with our employees, it's an honor and a privilege to be taking on this role. And I'm happy to be a part of the strong leadership team and humbled by the opportunity to lead such a great company.
I'd also like to introduce Rich Harbison, our new senior vice president of refining. Rich has over 30 years of experience in a variety of leadership roles across our refining, pipeline and terminal organizations. Most recently, he was vice president of the San Francisco refinery, where he oversaw the Rodeo Renewed project. Our second quarter results reflect the strong market environment driven by a tight global supply and demand balance.
We're focused on reliably providing critical energy products, including transportation fuels to meet demand. We've maintained strong operations in successfully completing our spring turnaround activities early in the second quarter. Even with global refineries running near max capacities, gasoline and distillate inventories remain low, supporting elevated refining margins. In the second quarter, we had adjusted earnings of $3.3 billion or $6.77 per share.