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 Inc. (NYSE:PBF) announced it will release its first quarter 2023 earnings results on May 5, 2023. The company will hold a conference call and webcast to discuss the quarterly results and business matters at 8:30 a.m. ET on the same day. Investors can access the call via the PBF Energy website or by calling (877) 869-3847. PBF Energy is one of the largest independent refiners in North America, operating facilities in multiple states, including California and New Jersey.
Uranium Energy Corp (NYSE American: UEC) has appointed Trecia Canty to its Board of Directors as of March 20, 2023. With over 25 years of experience in finance, corporate governance, and energy, Canty currently serves as Senior Vice President and General Counsel at PBF Energy Inc. Her expertise in strategic transactions and compliance is expected to bolster UEC's growth strategy. CEO Amir Adnani expressed enthusiasm about her contribution. UEC is known for its focus on environmentally friendly uranium mining and is advancing ISR projects in Texas and Wyoming, with a strong portfolio of resources in North America.
PBF Energy Inc. (NYSE:PBF) will participate in the Annual Piper Sandler Energy Conference on March 20 and 21, 2023. This event will feature members of its management team discussing company insights and strategies. Presentation materials will be accessible through the PBF Energy website in the Investor Relations section. Known as one of the largest independent refiners in North America, PBF Energy operates facilities across multiple states, including California, Delaware, Louisiana, New Jersey, and Ohio, with a commitment to safety and environmental responsibility.
PBF Energy Inc. (NYSE: PBF) announced the appointment of Georganne Hodges and Damian W. Wilmot as independent directors, effective March 15, 2023. Georganne Hodges brings over 30 years of energy industry experience, having held leadership positions at Motiva Enterprises and other major companies. Damian Wilmot has expertise in compliance and risk management, previously serving at Vertex Pharmaceuticals. Thomas J. Nimbley, Chairman and CEO, expressed confidence in their contributions to the Board. PBF Energy operates several refineries across North America and aims to provide superior returns to investors while maintaining operational integrity.