Pbf Energy Inc Stock Price, News & Analysis

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 Energy Inc. (NYSE:PBF) announced its participation in three upcoming virtual investor conferences: the Sankey Research Virtual Refining Conference on January 4, 2021, the 3rd Annual Mizuho Virtual Refining Conference on January 5, 2021, and the Goldman Sachs Global Energy Conference 2021 on January 6, 2021. As one of North America's largest independent refiners, PBF operates oil refineries across California, Delaware, Louisiana, New Jersey, and Ohio. The company focuses on safe, reliable, and environmentally responsible operations while also providing a rewarding workplace for its employees.

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 Energy Inc. (NYSE:PBF) announced its participation in the Cowen 2020 Energy Conference on December 3, 2020. The management team will provide insights during the event, emphasizing their commitment to safety, environmental responsibility, and community engagement. Presentation materials will be accessible on PBF Energy's Investor Relations webpage. Additionally, PBF Energy holds approximately 48% of the limited partnership interest in PBF Logistics LP (NYSE:PBFX).

PBF Holding Company LLC has extended the deadline for its exchange offer of $1 billion in 6.00% Senior Notes due 2028. The new expiration date is set for November 24, 2020. As of November 9, 2020, approximately $716.9 million of the old notes had been tendered, representing 71.69% of the total. The terms of the exchange offer remain unchanged, and the announcement clarifies that this press release does not constitute an offer.

PBF Energy reported a substantial third quarter 2020 loss from operations of $342.7 million, compared to income of $151.9 million in Q3 2019. The net loss reached $397.8 million, or $(3.49) per share, primarily due to challenging market conditions stemming from the COVID-19 pandemic. The company announced the reconfiguration of its East Coast refineries to improve efficiency, expecting around $100 million in operating savings. As of September 30, liquidity was approximately $1.9 billion.

PBF Energy Inc. (NYSE: PBF) will announce its third quarter 2020 earnings on October 29, 2020, at 8:30 a.m. ET. The company will host a conference call and webcast to discuss the results and other business updates, accessible via their website or by phone.

The audio replay of the call will be available until November 12, 2020. PBF Energy operates refineries in multiple U.S. states and holds a significant interest in PBF Logistics LP (NYSE: PBFX).