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 participation in the J.P. Morgan Energy, Power and Renewables Conference on June 22, 2021. The management team will represent one of the largest independent refiners in North America, which operates oil refineries in states like California, Delaware, Louisiana, New Jersey, and Ohio. PBF Energy also owns about 48% of PBF Logistics LP (NYSE:PBFX). The company focuses on safe and environmentally responsible operations while providing superior returns to investors.
PBF Energy Inc. (NYSE:PBF) will release its second quarter 2021 earnings results on Thursday, July 29, 2021. A conference call and webcast to discuss these results will also take place on the same day at 8:30 a.m. ET. Interested parties can access the call via PBF Energy's website or by dialing the provided numbers. PBF Energy is a major North American independent refiner, operating refineries in multiple states and holding approximately 48% of PBF Logistics LP (NYSE:PBFX).
PBF Energy Inc. (NYSE:PBF) will participate in the Virtual Wells Fargo Energy Conference on June 2, 2021. This event provides a platform for the company’s management team to engage with investors and analysts.
PBF Energy is one of North America's largest independent refiners, with operations across California, Delaware, Louisiana, New Jersey, and Ohio. The company emphasizes safety, reliability, and environmental responsibility in its operations. Additionally, PBF Energy holds approximately 48% of the limited partnership interest in PBF Logistics LP (NYSE: PBFX).
PBF Energy reported a first quarter 2021 income from operations of $57.7 million, a significant recovery from a loss of $1,366.8 million in the same quarter of 2020. However, excluding special items, the company posted a loss from operations of $317.8 million. The net loss attributed to PBF Energy was $41.3 million or $(0.34) per share, compared to a staggering net loss of $1,065.9 million in Q1 2020. The company emphasized its focus on maintaining liquidity with $2.3 billion available and a strategic pivot towards renewable fuels, while also facing sector challenges like rising compliance costs.
PBF Energy Inc. (NYSE:PBF) is set to release its first quarter 2021 earnings results on April 29, 2021. A conference call and webcast will follow at 8:30 a.m. ET that day, accessible via the company's website or by phone. As one of the largest independent refiners in North America, PBF operates facilities across states including California, Delaware, Louisiana, New Jersey, and Ohio, focusing on safe and environmentally responsible operations while aiming for superior returns to investors.
PBF Energy Inc. (NYSE: PBF), a leading independent refiner in North America, will participate in the Scotia Howard Weil Energy Conference on March 24, 2021. The event will feature members of PBF's management team, providing insights into the company's operations and market strategies. PBF operates refineries across several states, including California, Delaware, Louisiana, New Jersey, and Ohio. Additionally, PBF holds approximately 48% of the limited partnership interest in PBF Logistics LP (NYSE: PBFX).
PBF Energy Inc. (NYSE:PBF) will take part in the Bank of America Refining Conference on March 10, 2021. This event enables members of their management team to engage with industry stakeholders, highlighting their operations as a significant independent refiner in North America. With refineries located in states like California, Louisiana, and New Jersey, PBF aims to operate safely, responsibly, and profitably while benefiting local communities. Additionally, PBF indirectly owns about 48% of the limited partnership interest in PBF Logistics LP (NYSE:PBFX).
PBF Energy Inc. (NYSE: PBF) announced its participation in Raymond James' 42nd Annual Institutional Investor Conference on March 2, 2021. The event will feature key members of the management team presenting insights and strategies of the company. PBF Energy is a leading independent refiner in North America, with operations in multiple states, including California, Delaware, Louisiana, New Jersey, and Ohio. Additionally, PBF holds about 48% of PBF Logistics LP (NYSE: PBFX). For further details, visit the PR Newswire.
PBF Energy reported a significant loss from operations of $328.1 million for Q4 2020, down from a profit of $123.0 million in Q4 2019. The net loss was $286.0 million, or $(2.49) per share, compared to a net income of $69.1 million a year prior. Excluding special items, the adjusted net loss was $547.4 million, or $(4.53) per share. The company ended the year with $1.6 billion in cash, aiming for operational efficiency through a $100 million annual savings initiative. PBF anticipates continued challenges due to the pandemic, with reduced refinery utilization expected in early 2021.
PBF Energy Inc. (NYSE:PBF) announced the release of its fourth quarter 2020 earnings results on February 11, 2021. A conference call will follow at 8:30 a.m. ET to discuss the results and other business matters. The call will be available via webcast on the company’s official website, and an audio replay will be accessible shortly after the call ends. PBF is a leading independent refiner in North America, with operations across several states including California, Louisiana, and New Jersey, and it also owns 48% of PBF Logistics LP (NYSE:PBFX).
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