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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News
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- Exports Fuel Investment in U.S. Petcoke Expansions, Upgrades, an Industrial Info News AlertBusiness Wire
- PBF Energy to Participate in the TD Cowen Energy ConferencePR Newswire
- PBF Energy Inc. (NYSE:PBF) Pays A US$0.275 Dividend In Just Four Days [Yahoo! Finance]Yahoo! Finance
- PBF Energy Inc. (NYSE: PBF) was downgraded by analysts at StockNews.com from a "hold" rating to a "sell" rating.MarketBeat
PBF
Earnings
- 10/31/24 - Miss
PBF
Sec Filings
- 11/21/24 - Form 4
- 11/15/24 - Form 4
- 11/13/24 - Form 4
- PBF's page on the SEC website