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. reports news on its independent petroleum refining business, including refinery operations, financial results, throughput guidance, dividend declarations and investor conference participation. The company operates oil refineries and related facilities through subsidiaries in California, Delaware, Louisiana, New Jersey and Ohio, and supplies transportation fuels, heating oil, petrochemical feedstocks, lubricants and other petroleum products.
Recurring updates also address operational reliability, turnaround activity, the Martinez refinery, market conditions affecting refining margins and PBF Energy's 50% interest in the St. Bernard Renewables joint venture focused on next generation sustainable fuels.
PBF Energy (NYSE: PBF) has announced plans to repair and restart its Martinez refinery in California following a fire on February 1, 2025. The 157,000 barrel-per-day facility will resume operations in two stages:
Stage 1 (early Q2 2025): Restart of crude unit with throughput of 85,000-105,000 barrels per day, producing gasoline, jet fuel, and intermediates.
Stage 2 (by Q4 2025): Restart of remaining units, including those scheduled for Q1 turnaround.
The repair costs are expected to be largely covered by insurance, with company deductibles and retentions totaling $30 million. Business interruption insurance should significantly offset financial losses from April 3, 2025, until full restoration, covering ongoing costs and potential lost margin opportunity.
PBF Energy (NYSE:PBF) has announced its upcoming participation in two major industry conferences in March 2025. The company's management team will attend the Raymond James Institutional Investor Conference on March 3-4, 2025, followed by the Wolfe Research Refining Conference on March 6, 2025.
Investors and stakeholders can access any presentation materials through the Investor Relations section on PBF Energy's official website at www.pbfenergy.com.
PBF Energy (NYSE:PBF) has announced its participation in the upcoming Scotiabank Global Energy Conference scheduled for February 26, 2025. Members of the company's management team will be present at the conference.
The company has confirmed that any presentation materials used during the conference will be accessible to investors through the Investor Relations section of PBF Energy's official website at www.pbfenergy.com.
PBF Energy reported significant losses for Q4 and full-year 2024. The company posted a Q4 loss from operations of $383.2 million (excluding special items: $427.9 million), compared to a loss of $47.2 million in Q4 2023. Full-year 2024 showed a loss from operations of $699.0 million, versus income of $2,951.5 million in 2023.
The company declared a quarterly dividend of $0.275 per share, returning over $60 million to stockholders through dividends and buybacks in Q4, and approximately $450 million throughout 2024. A fire at the Martinez refinery on February 1, 2025, led to temporary shutdown, with impact assessment ongoing.
At year-end, PBF had approximately $536 million in cash and $921 million in net debt. The company's renewable diesel operation averaged 17,000 barrels per day in Q4, with Q1 2025 production expected to decrease to 10,000-12,000 barrels during catalyst change.
PBF Energy (NYSE:PBF) has announced it will release its fourth quarter 2024 earnings results on Thursday, February 13, 2025. The company will host a conference call and webcast at 8:30 a.m. ET on the same day to discuss the results and other business matters. Investors can access the webcast through PBF Energy's website or join via phone using the provided dial-in numbers. An audio replay will be made available approximately two hours after the call's conclusion on the company's website.
PBF Energy (NYSE:PBF) has announced that its management team will take part in the Goldman Sachs Energy, CleanTech & Utilities Conference, scheduled for January 6-8, 2025. The company plans to make any presentation materials from the conference available to investors through the Investor Relations section of their website at www.pbfenergy.com.
PBF Energy (NYSE:PBF) has announced its management team's upcoming participation in the TD Cowen Energy Conference scheduled for November 19, 2024. The company will make any presentation materials from the conference available to investors through the Investor Relations section of their website at www.pbfenergy.com.
PBF Energy reported a third quarter 2024 loss from operations of $386.3 million, compared to income of $1,077.1 million in Q3 2023. Excluding special items, Q3 2024 loss was $231.5 million. The company posted a net loss of $289.1 million, or $(2.49) per share, versus net income of $794.1 million or $6.11 per share in Q3 2023. Despite weak market conditions, PBF announced a 10% increase in quarterly dividend to $0.275 per share and conducted share repurchases of approximately 2.0 million shares for $75 million. The company maintains strong liquidity with $977 million in cash and $1.3 billion in total debt.
PBF Energy Inc. (NYSE:PBF) has announced the release date for its third quarter 2024 earnings results. The company will unveil its financial performance on Thursday, October 31, 2024, followed by a conference call and webcast at 8:30 a.m. ET on the same day. Investors and interested parties can access the webcast through PBF Energy's website or join the call by dialing (800) 579-2543 or (785) 424-1789, using the Conference ID: PBF3Q24. An audio replay of the call will be made available approximately two hours after its conclusion on the company's website, providing an opportunity for those unable to attend the live event to catch up on the discussed matters.
PBF Energy Inc. (NYSE:PBF) reported a second quarter 2024 loss from operations of $74.6 million, compared to income of $1,389.2 million in Q2 2023. Excluding special items, the loss was $72.5 million. The company posted a net loss of $66.0 million, or $(0.56) per share, compared to net income of $1,030.4 million, or $7.88 per share, in Q2 2023.
Despite disappointing earnings, PBF maintained a strong cash position of approximately $1.4 billion, with total debt around $1.3 billion. The company declared a quarterly dividend of $0.25 per share and conducted share repurchases of about $100 million in Q2. PBF completed major planned maintenance in multiple regions and expects full-year 2024 refining capital expenditures to be around $850 million.