Intel Xeon Phi accelerators are one of the newest devices used in the field of parallel computing. However, there are comparatively few studies concerning their performance when using most of the existing parallelization techniques. One of them is thread-level speculation, a technique that optimistically tries to extract parallelism of loops without the need of a compile-time analysis that guarantees that the loop can be executed in parallel. In this article we evaluate the performance delivered by an Intel Xeon Phi coprocessor when using a software, state-of-the-art thread-level speculative parallelization library in the execution of well-known benchmarks. We describe both the internal characteristics of the Xeon Phi platform and the particularities of the thread-level speculation library being used as benchmark. Our results show that, although the Xeon Phi delivers a relatively good speedup in comparison with a shared-memory architecture in terms of scalability, the relatively low computing power of its computational units when specific vectorization and SIMD instructions are not fully exploited makes this first generation of Xeon Phi architectures not competitive (in terms of absolute performance) with respect to conventional multicore systems for the execution of speculatively parallelized code.