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PBF Logistics LP (NYSE:PBFX) has announced the availability of its 2020 K-1 Tax Packages, which are now accessible online. As of March 2, 2021, the company is mailing these tax packages to unitholders. PBF Logistics, formed by PBF Energy, operates as a fee-based master limited partnership, focusing on owning, leasing, operating, and developing logistics assets related to crude oil and refined petroleum products.
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 Logistics LP (NYSE:PBFX) has filed its Annual Report on Form 10-K for the fiscal year ended December 31, 2020, with the U.S. Securities and Exchange Commission. The report includes comprehensive audited financial statements and is available for viewing on the company’s website. Limited partners can request a hard copy of the report free of charge by communicating in writing to the Investor Relations department. PBF Logistics is a fee-based, growth-oriented master limited partnership dedicated to owning, leasing, operating, and acquiring logistics assets related to crude oil and refined petroleum products.
PBF Logistics LP (NYSE:PBFX) reported fourth quarter 2020 net income of $31.0 million, or $0.50 per common unit. The Partnership generated cash from operations of $45.2 million and EBITDA of $55.5 million. For the year, net income totaled $147.4 million, with cash from operations reaching $186.6 million. PBF Logistics has $331.4 million in liquidity, and a quarterly cash distribution of $0.30 per unit has been declared, payable March 17, 2021. Executive Vice President Matt Lucey expects strong revenues and aims to enhance distribution coverage while reducing debt.
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).
PBF Logistics LP (NYSE: PBFX) will announce its fourth quarter 2020 earnings on February 11, 2021. A conference call and webcast will be held at 11:00 a.m. ET on the same day, accessible via their website or by phone at (877) 407-8029. The replay will be available two hours after the call. PBF Logistics focuses on owning and operating logistics assets in the crude oil and refined products sector.
PBF Energy Inc. (NYSE:PBF) announced an add-on offering of $250 million in senior secured notes due 2025, priced at 9.25% interest. The notes will be issued by its subsidiary PBF Holding Company LLC and are expected to close on December 21, 2020. Proceeds will be utilized for general corporate purposes. The offering will be made through private placements under Rule 144A and Regulation S, and the notes have not been registered under the Securities Act.
PBF Energy Inc. (NYSE:PBF) has announced an add-on offering of $250 million in 9.25% senior secured notes due 2025. This offering, subject to market conditions, aims to generate funds for general corporate purposes. PBF Holding, a subsidiary of PBF Energy, will co-issue these notes alongside PBF Finance Corporation. Previously, PBF had issued $1 billion in similar notes. The offering, designed for qualified institutional buyers, is not registered under the Securities Act and will follow a private placement process.
PBF Logistics LP (NYSE: PBFX) will participate in the Wells Fargo Virtual Midstream and Utility Symposium on December 8, 2020. This event will showcase the partnership's management and their strategic insights into the logistics sector. Headquartered in Parsippany, New Jersey, PBF Logistics is a fee-based, growth-oriented master limited partnership formed by PBF Energy to manage logistics assets including crude oil and refined petroleum terminals.
