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Phillips 66 Partners LP (NYSE: PSXP) has filed its annual report on Form 10-K for the fiscal year ended December 31, 2020, with the SEC. The report contains audited financial statements and is accessible on the Partnership's website and the SEC's site. Unitholders can request a free hard copy of the report. Phillips 66 Partners is a growth-oriented master limited partnership focusing on owning and operating fee-based pipelines and terminal assets for crude oil and refined petroleum products.
Phillips 66 Partners LP (PSXP) reported fourth-quarter 2020 earnings of $104 million, or $0.40 per diluted common unit, with cash from operations at $170 million and distributable cash flow of $240 million. Adjusted EBITDA rose to $318 million, up from $313 million in Q3. The decrease in earnings was primarily due to $96 million in impairments from joint ventures amid lower crude production. The South Texas Gateway Terminal reached a milestone with its second dock, while the C2G Pipeline project continues. A cash distribution of $0.875 per common unit was declared.
Phillips 66 Partners LP (NYSE: PSXP) has announced a fourth-quarter 2020 cash distribution of $0.875 per common unit, equating to $3.50 annually. This distribution is scheduled for payment on February 12, 2021, to unitholders of record as of January 29, 2021. The partnership focuses on owning, operating, and developing midstream assets, primarily fee-based pipelines and terminals for crude oil and refined products. For further details, visit www.phillips66partners.com.
Phillips 66 Partners (NYSE: PSXP) will hold a conference call on Friday, Jan. 29, at 2 p.m. EST to discuss its fourth-quarter 2020 financial results, released earlier that day. The session will include updates on strategic initiatives. Interested parties can access the live webcast and later replay on the company's Events and Presentations site. Phillips 66 Partners focuses on owning and operating fee-based midstream assets, including pipelines and terminals for crude oil and natural gas liquids.
Phillips 66 Partners LP (NYSE: PSXP) reported third-quarter 2020 earnings of $206 million ($0.85 per unit), with cash from operations at $296 million and distributable cash flow of $243 million. Adjusted EBITDA rose to $313 million, up from $269 million in the previous quarter. Increased throughput from the Gray Oak Pipeline and South Texas Gateway Terminal contributed to the growth. A cash distribution of $0.875 per unit was declared, reflecting a 1% increase from the same quarter last year. Capital expenditures for the quarter totaled $184 million.
Phillips 66 Partners LP (NYSE: PSXP) announced a third-quarter 2020 cash distribution of $0.875 per common unit, equating to an annualized rate of $3.50 per unit. This marks a 1% increase from the third quarter of 2019. The distribution is set to be paid on Nov. 13, 2020, to unitholders recorded by Oct. 30, 2020. The company focuses on owning and operating midstream assets related to crude oil and natural gas liquids.