PBF Energy reports Q4 loss of $48.4M; declares $0.25 dividend and adds $750M buyback authorization

PBF Energy Inc.

2023-FY EPS reported $16.52 revenue$38,324,800,000

Q4 net loss $48.4M ($0.40/share) vs net income $637.8M ($4.86/share) in Q4 2022.
Q4 loss from operations $47.2M; excluding special items loss $46.1M.
Full-year 2023 income from operations $2,951.5M vs $4,153.2M in 2022.
Board increased share repurchase authorization by $750M, total over $1B; $150M repurchased in Q4.
Quarterly dividend $0.25/share payable March 14, 2024 to holders of record Feb 29.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

PBF Energy Inc. reported financial results for full year ended December 31, 2023.

Period: full year ended December 31, 2023
Result: reported results

Exact text from the filing

Income from operations was $2,951.5 million for the year ended December 31, 2023 as compared to income from operations of $4,153.2 million for the year ended December 31, 2022.

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

PBF Energy Inc. reported financial results for full year ended December 31, 2022.

Period: full year ended December 31, 2022
Result: reported results

Exact text from the filing

Income from operations was $2,951.5 million for the year ended December 31, 2023 as compared to income from operations of $4,153.2 million for the year ended December 31, 2022.

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

PBF Energy Inc. reported fourth quarter ended December 31, 2022 results: net income $656.1 million, EPS $4.86 per share.

Period: fourth quarter ended December 31, 2022
Net income: $656.1 million
EPS: $4.86 per share
Result: reported results

Exact text from the filing

This compares to net income of $656.1 million, and net income attributable to PBF Energy Inc. of $637.8 million or $4.86 per share for the fourth quarter of 2022.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.8

PBF Energy Inc. updated its first quarter 2024 guidance (reaffirmed).

Period: first quarter 2024
Guidance: reaffirmed
Result: guidance update

Exact text from the filing

Expected throughput ranges (barrels per day) First Quarter 2024 Low High East Coast 270,000 290,000 Mid-continent 100,000 110,000 Gulf Coast 170,000 180,000 West Coast 290,000 310,000 Total 830,000 890,000

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Earnings Releases SEC 8-K Item 2.02 confidence 0.8

PBF Energy Inc. updated its full year 2024 guidance (reaffirmed).

Period: full year 2024
Guidance: reaffirmed
Result: guidance update

Exact text from the filing

PBF's total refining system throughput for full-year 2024 is expected to be approximately 895,000 to 955,000 barrels per day.

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

PBF Energy Inc. reported fourth quarter ended December 31, 2023 results: net income $48.4 million net loss, EPS $(0.40) per share.

Period: fourth quarter ended December 31, 2023
Net income: $48.4 million net loss
EPS: $(0.40) per share
Result: reported results

Exact text from the filing

The company reported fourth quarter 2023 net loss of $48.4 million and net loss attributable to PBF Energy Inc. of $48.4 million or $(0.40) per share.

View on SEC.gov

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PBF Energy Inc. filing history →

Source: SEC EDGAR

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