PBF Energy (PBF) Reports Q1 Loss, Tops Revenue Estimates

Core Viewpoint - PBF Energy reported a quarterly loss of $3.09 per share, which was better than the Zacks Consensus Estimate of a loss of $3.50, indicating an earnings surprise of 11.71% [1] - The company generated revenues of $7.07 billion for the quarter, surpassing the Zacks Consensus Estimate by 9.25%, although this represents a decline from $8.65 billion in the same quarter last year [2] Financial Performance - PBF Energy's earnings have shown inconsistency, surpassing consensus EPS estimates only once in the last four quarters [2] - The company has exceeded consensus revenue estimates four times over the last four quarters [2] - The current consensus EPS estimate for the upcoming quarter is -$0.70 on projected revenues of $7.38 billion, and for the current fiscal year, it is -$5.85 on revenues of $28.89 billion [7] Stock Performance - PBF Energy shares have declined approximately 35.3% since the beginning of the year, contrasting with the S&P 500's decline of 5.3% [3] - The stock currently holds a Zacks Rank of 3 (Hold), suggesting it is expected to perform in line with the market in the near future [6] Industry Outlook - The Oil and Gas - Refining and Marketing industry is currently ranked in the top 38% of over 250 Zacks industries, indicating a favorable outlook compared to lower-ranked industries [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]