secwatch.observer — SEC 8-K summary
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Issuer:     PBF Energy Inc. (PBF)
CIK:        0001534504
Form:       8-K
Filed at:   2023-05-05T23:59:59+00:00
Accession:  0001534504-23-000022
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

PBF Energy Q1 2023 net income $382M ($2.86/share) vs loss; dividend $0.20; buyback to $1B
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- Q1 net income attributable $382.1M ($2.86/diluted share) vs net loss of $21.1M (-$0.18) in Q1 2022.
- Declared Q dividend $0.20/share, payable May 31, record May 17.
- Share repurchase authorization increased to $1.0B ($346M repurchased to date, program extended to Dec 2025).
- Reduced consolidated debt by $525M in Q1 and $2.8B over trailing 12 months; net debt/cap effectively zero.
- St. Bernard Renewables JV with Eni (50-50); Eni contributes $835M; closing expected Q2/Q3 2023; RD unit mechanically complete.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1534504/000153450423000022/0001534504-23-000022-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1534504/000153450423000022/pbf-20230505.htm
  HTML page:      https://secwatch.observer/filing/0001534504-23-000022

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