Refiner PBF Energy posts bigger-than-expected Q3 loss as margins collapse [Yahoo! Finance]
PBF Energy Inc. Class A (PBF)
Last pbf energy inc. class a earnings: 2/13 06:30 am
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Source: Yahoo! Finance
Globally, refiners have seen a drop in profitability due to soft consumer and industrial demand, especially in China. Bigger rivals Phillips 66 and Valero Energy posted drops in quarterly earnings, dented by weak margins, but still managed to beat analysts' estimates. The company said its gross refining margin, excluding special items, per barrel of throughput stood at $6.79 in the quarter, a 69.4% drop from last year. U.S. refiners are seeing their margins and profits normalize from recent record highs, following Russia's invasion of Ukraine in 2022. "PBF's financial results for the quarter reflect the broader macro headwinds brought about by weaker-than-expected global demand and higher-than-anticipated refinery utilization," PBF Energy's CEO Matt Lucey said in a statement. The company added it was conducting its last major turnaround at the Chalmette refinery in Louisiana and expects the work to be finished in November. The company said its reported quarter's crude oil
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PBF
News
- PBF Energy to Release Fourth Quarter 2024 Earnings ResultsPR Newswire
- PBF Energy to Participate in the Goldman Sachs Energy, CleanTech & Utilities ConferencePR Newswire
- PBF Energy Inc. (NYSE: PBF) was downgraded by analysts at TD Cowen from a "hold" rating to a "sell" rating. They now have a $20.00 price target on the stock, down previously from $27.00.MarketBeat
- PBF Energy (NYSE:PBF) shareholders are still up 125% over 3 years despite pulling back 13% in the past week [Yahoo! Finance]Yahoo! Finance
- PBF Energy Inc. (NYSE: PBF) was downgraded by analysts at Mizuho from a "neutral" rating to an "underperform" rating. They now have a $31.00 price target on the stock, down previously from $33.00.MarketBeat
PBF
Earnings
- 10/31/24 - Miss
PBF
Sec Filings
- 12/20/24 - Form 4
- 12/20/24 - Form SCHEDULE
- 12/18/24 - Form 4
- PBF's page on the SEC website