Welcome to our dedicated page for PBF ENERGY news (Ticker: PBF), a resource for investors and traders seeking the latest updates and insights on PBF ENERGY stock.
PBF Energy Inc. (NYSE: PBF) is a leading independent petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants, and other petroleum products in the United States. Headquartered in Parsippany, New Jersey, PBF Energy owns and operates refineries in Delaware, Ohio, New Jersey, California, and Louisiana, making it one of the largest independent refiners in North America.
The company's operations are divided into two main segments: Refining and Logistics. The Refining segment involves refining crude oil and other feedstocks into valuable petroleum products. The Logistics segment, operated solely by PBFX, manages logistics assets such as crude oil and refined products terminals, pipelines, and storage facilities.
PBF Energy is committed to identifying and executing acquisition opportunities in the petroleum refining industry that deliver superior returns for its investors. Recent financial activities include its indirect subsidiary, PBF Holding Company LLC, pricing $500 million in aggregate principal amount of 7.875% senior notes due 2030. The net proceeds are intended to fund the redemption of its 7.25% Senior Notes due 2025.
Latest Achievements and Updates:
- Announced third quarter 2023 results with income from operations of $1,077.1 million.
- Completed pricing of $500 million senior notes due 2030.
- Reported fourth quarter 2023 loss from operations of $47.2 million, attributing this to market volatility and planned maintenance activities.
- Declared dividends of $0.25 per share for Class A common stock in November 2023.
PBF Energy is also innovating in the renewable sector. It announced a 50% partnership in the St. Bernard Renewables joint venture, focusing on next-generation sustainable fuels. The company has made significant investments in renewable diesel production, aligning with its mission to operate in an environmentally responsible manner.
Financially, PBF Energy has shown resilience with significant improvements in its balance sheet, reducing and extending the maturities of its debt, and increasing liquidity. As of the end of 2023, the company had approximately $1.9 billion in cash and $1.2 billion in total debt, with a strong commitment to maintaining fiscal discipline and long-term value creation for its shareholders.
Looking forward, PBF Energy continues to prioritize safe, reliable operations and investing in its assets. It plans extensive maintenance and turnarounds, particularly on the West Coast, to ensure operational integrity and supply reliability.
Investor relations remain strong as PBF Energy consistently engages with stakeholders through quarterly earnings releases and webcasts, offering transparency and insights into its financial health and strategic initiatives.
For more updates and detailed financial reports, you can visit the official PBF Energy website.
PBF Energy (NYSE:PBF) has announced it will release its fourth quarter 2024 earnings results on Thursday, February 13, 2025. The company will host a conference call and webcast at 8:30 a.m. ET on the same day to discuss the results and other business matters. Investors can access the webcast through PBF Energy's website or join via phone using the provided dial-in numbers. An audio replay will be made available approximately two hours after the call's conclusion on the company's website.
PBF Energy (NYSE:PBF) has announced that its management team will take part in the Goldman Sachs Energy, CleanTech & Utilities Conference, scheduled for January 6-8, 2025. The company plans to make any presentation materials from the conference available to investors through the Investor Relations section of their website at www.pbfenergy.com.
PBF Energy (NYSE:PBF) has announced its management team's upcoming participation in the TD Cowen Energy Conference scheduled for November 19, 2024. The company will make any presentation materials from the conference available to investors through the Investor Relations section of their website at www.pbfenergy.com.
PBF Energy reported a third quarter 2024 loss from operations of $386.3 million, compared to income of $1,077.1 million in Q3 2023. Excluding special items, Q3 2024 loss was $231.5 million. The company posted a net loss of $289.1 million, or $(2.49) per share, versus net income of $794.1 million or $6.11 per share in Q3 2023. Despite weak market conditions, PBF announced a 10% increase in quarterly dividend to $0.275 per share and conducted share repurchases of approximately 2.0 million shares for $75 million. The company maintains strong liquidity with $977 million in cash and $1.3 billion in total debt.
PBF Energy Inc. (NYSE:PBF) has announced the release date for its third quarter 2024 earnings results. The company will unveil its financial performance on Thursday, October 31, 2024, followed by a conference call and webcast at 8:30 a.m. ET on the same day. Investors and interested parties can access the webcast through PBF Energy's website or join the call by dialing (800) 579-2543 or (785) 424-1789, using the Conference ID: PBF3Q24. An audio replay of the call will be made available approximately two hours after its conclusion on the company's website, providing an opportunity for those unable to attend the live event to catch up on the discussed matters.
PBF Energy Inc. (NYSE:PBF) reported a second quarter 2024 loss from operations of $74.6 million, compared to income of $1,389.2 million in Q2 2023. Excluding special items, the loss was $72.5 million. The company posted a net loss of $66.0 million, or $(0.56) per share, compared to net income of $1,030.4 million, or $7.88 per share, in Q2 2023.
Despite disappointing earnings, PBF maintained a strong cash position of approximately $1.4 billion, with total debt around $1.3 billion. The company declared a quarterly dividend of $0.25 per share and conducted share repurchases of about $100 million in Q2. PBF completed major planned maintenance in multiple regions and expects full-year 2024 refining capital expenditures to be around $850 million.
PBF Energy (NYSE: PBF) has announced it will release its Q2 2024 earnings results on August 1, 2024. The company will hold a conference call and webcast at 8:30 a.m. ET the same day to discuss the results and other business matters. Interested parties can access the call via PBF Energy's website or by phone using the provided numbers and conference ID. An audio replay will be available on the company's website approximately two hours post-call.
PBF Energy announced its participation in the J.P. Morgan Energy, Power and Renewables Conference on June 18, 2024. The company will have members of its management team present at the event. Presentation materials will be accessible on the Investor Relations section of the PBF Energy website.
PBF Energy Inc. reported first quarter 2024 income from operations of $145.1 million, a decrease from the first quarter of 2023. The company also declared a quarterly dividend of $0.25 per share and repurchased approximately 2.6 million shares for $125 million. Net income for the first quarter of 2024 was $107.5 million, compared to $385.9 million in the same period in 2023. PBF remains focused on operational execution, balance sheet quality, and long-term shareholder value.
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