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Phillips 66 (NYSE:PSX) shares are trading lower on Tuesday after it reported third-quarter FY24 results. Midstream segment adjusted pre-tax income stood at $672 million, vs. $753 million in the second quarter of FY24, owing to seasonal maintenance costs and lower equity earnings. The Chemicals segment adjusted pre-tax income stood at $342 million versus $222 million in the prior quarter, led by higher margins and lower costs. The Refining segment adjusted pre-tax income stood at $(67) million versus $302 million in the prior quarter due to weak realized margins on lower market crack spreads. T…

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