Fine. Phillips is the master at stating the obvious, but sometimes that can be helpful. If you want to introduce the parables to a new or young Christian, this would be a good start. Don't look for anything cutting-edge (which is usually not what you want in theology anyway!). His interpretations of the parables are standard and helpful. Sometimes he lets his imagination get away from him with details in the parables that Jesus does not share (sometimes he seems to forget that these characters did not actually exist in real life), and at times the connections to the gospel are perhaps slightly strained, but that is probably partly because these were originally sermons (is that a valid excuse? I'm not sure).
Anyhow, solid, workmanlike, quickly read.