PBF Energy MichaelRLopez In the company's first quarter reported on May 2nd, PBF earned $0.85 in adjusted EPS, which actually beat consensus by $0.20. Earnings were down from $2.76 last year, given a less favorable refining environment. Revenue fell by 7% to $8.65 billion. For refiners, I de-emphasize revenue, as that is driven by the absolute level of oil Ultimately, PBF cannot control the crack spread environment and is exposed to the refining macro in that regard. Because of tighter spreads, it generated ...

About PBF Energy Inc. PBF Energy Inc. (NYSE: PBF) is one of the largest independent refiners in North America, operating, through its subsidiaries, oil refineries and related facilities in California, Delaware, Louisiana, New Jersey and Ohio. Our mission is to operate our facilities in a safe, reliable and environmentally responsible manner, provide employees with a safe and rewarding workplace, become a positive influence in the communities where we do business, and provide superior returns to our investor ...

Any company presentation materials will be made available on the Investor Relations section of the PBF Energy website at www.pbfenergy.com. PBF Energy Inc. (NYSE:PBF) is one of the largest independent refiners in North America, operating, through its subsidiaries, oil refineries and related facilities in California, Delaware, Louisiana, New Jersey and Ohio. Our mission is to operate our facilities in a safe, reliable and environmentally responsible manner, provide employees with a safe and rewarding workpla ...

PBF Energy Inc. (NYSE:PBF) Q1 2024 Earnings Conference Call May 2, 2024 8:30 AM ET Company Participants Colin Murray - Investor Relations Matt Lucey - President and Chief Executive Officer Karen Davis - Chief Financial Officer Mike Bukowski - Head, Refining Paul Davis - Senior Vice President, Supply, Trading and Optimization Thomas O’Connor - Senior Vice President, Commodity Risk and Strategy Conference Call Participants Roger Read - Wells Fargo Ryan Todd - Piper Sandler Manav Gupta - UBS Matthew Blair - TP ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-35764 PBF ENERGY INC. (Exact name of registrant as specified in its charter) Delaware 45-3763855 (State or other jurisdiction ...

PBF Energy Announces First Quarter 2024 Results and Declares Dividend of $0.25 per Share PARSIPPANY, NJ - May 2, 2024 - PBF Energy Inc. (NYSE:PBF) today reported first quarter 2024 income from operations of $145.1 million as compared to income from operations of $532.4 million for the first quarter of 2023. Excluding special items, first quarter 2024 income from operations was $143.9 million as compared to income from operations of $514.4 million for the first quarter of 2023. The company reported first qua ...

PBF Energy Inc. (NYSE:PBF) Q4 2023 Earnings Conference Call February 15, 2024 8:30 AM ET Company Participants Colin Murray - Vice President, Investor Relations Matthew C. Lucey - President and Chief Executive Officer Karen B. Davis - Chief Financial Officer Paul Davis - Senior Vice President, Supply, Trading and Optimization Jim Fedena - Senior Vice President, Logistics, Renewable Fuels, and Strategic Assets Thomas L. O’Connor - Senior Vice President, Commodity Risk and Strategy Conference Call Participants ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark one) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended: December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-35764 PBF ENERGY INC. (Exact name of registrant as specified in its charter) Delaware 45-3763855 (I.R.S. Employer Identification No ...

Financial Data and Key Metrics Changes - For Q3 2023, the company reported adjusted net income of $6.61 per share and adjusted EBITDA of $1.3 billion, which includes approximately $14.6 million generated from equity interest in St. Bernard Renewables [10] - The cumulative impact of special items decreased third quarter net income by an after-tax amount of $65 million or $0.50 a share [3] - Cash flow from operations for the quarter was $1.15 billion, excluding working capital changes, with working capital being a headwind of $618 million [118] Business Line Data and Key Metrics Changes - The renewable diesel segment reported positive earnings in its first full quarter of operations [7] - The company reduced outstanding environmental payables by $339 million, bringing the total reduction for the year to over $900 million [32] - Consolidated CapEx for Q3 was approximately $190 million, with expectations for total CapEx in 2023 to be around $800 million to $850 million, above previous guidance due to increased scope of work [12] Market Data and Key Metrics Changes - The West Coast market remains the strongest in terms of demand, followed closely by the East Coast, while PADD 2 and the Gulf Coast are currently the weakest markets [48] - Despite a recent pullback in gasoline prices, the company expects prices to stabilize and compound cracks to remain above previous mid-cycle levels [26] - The pricing environment is expected to remain volatile, but the company is well-positioned to respond due to its high complexity refining footprint [26] Company Strategy and Development Direction - The company aims to leverage its core strengths in assets and expertise to make disciplined investments in complementary businesses with compelling risk-return ratios [115] - The company has completed its balance sheet transformation and is focused on maintaining a robust balance sheet while rewarding shareholders through dividends and share repurchases [14][30] - The MACH2 project has been selected as a regional hydrogen hub, indicating the company's commitment to participating in the future of energy [29] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to adapt to volatile commodity markets and highlighted the importance of operational reliability [117] - The company anticipates that the current market conditions will impact fourth quarter capture rates due to planned maintenance and unplanned downtime [8][21] - Management noted that while there are seasonal differences in demand, overall demand has remained stable with no significant declines in the wholesale business [47] Other Important Information - The company has reinstated and increased its dividend, reflecting its commitment to shareholder returns [9] - The company has executed a share repurchase program, repurchasing $590 million worth of shares since its inception [27] - The company ended the quarter with almost $1.9 billion in cash and just over $1.2 billion of debt, retaining incremental cash for future uses [35] Q&A Session Summary Question: Thoughts on CITGO and U.S. refining opportunities - Management indicated that any potential opportunities must have compelling returns that exceed the benefits of share buybacks [15][16] Question: Guidance on SBR and operational performance - Management noted that the startup of SBR has had its challenges but overall performance has been satisfactory, with some optimization work planned [38][39] Question: Sustainability of high capture rates - Management acknowledged the strong performance but indicated that ongoing maintenance and operational issues could impact future capture rates [41][42] Question: Impact of WCS spreads and regional gasoline markets - Management confirmed that widening crude differentials are a tailwind and discussed the strength of East and West Coast capture rates [88][89] Question: Insights on the MACH2 hydrogen hub - Management described the MACH2 project as a significant opportunity, emphasizing the need for competitive returns on any capital investments [92][93]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: September 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-35764 PBF ENERGY INC. (Exact name of registrant as specified in its charter) Delaware 45-3763855 (State or other jurisdict ...