PBF Energy Q3 operating income surges to $1.4B; reinstates $0.20 quarterly dividend

PBF Energy Inc.

2022-Q3 EPS reported $18.03 revenue$35,984,000,000

Q3 income from operations $1,400.0M vs $100.9M YoY; net income $1,056.4M ($8.40/share) vs $59.1M ($0.49/share).
Reinstates quarterly dividend of $0.20/share, payable Nov 29, 2022 to holders of record Nov 14.
Net debt to capitalization reduced to 1% from 59% at year-end 2021; consolidated debt reduced by over $2.6B.
Expected Q4 2022 total throughput 945,000-1,005,000 bpd; FY2022 refining capex $550-575M (excl. renewable diesel).
PBF Logistics merger expected to close in Q4 2022; renewable diesel project on track for H1 2023 production, $103M invested in Q3.

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