PBF Energy Q2 2024 net loss $0.56/share vs profit $7.88 last year; declares $0.25 dividend

PBF Energy Inc.

2024-Q2 EPS reported $0.33 revenue$17,381,700,000

Q2 2024 loss from operations $74.6M vs income $1,389.2M in Q2 2023; net loss $66.0M, EPS $(0.56) vs net income $1,030.4M, EPS $7.88.
Adjusted fully-converted net loss $64.2M ($0.54/share) vs adjusted net income $298.3M ($2.29) in prior year.
Declares quarterly dividend $0.25/share, payable Aug 29, 2024 to holders of record Aug 15 (unchanged from prior).
Repurchased ~2.0M shares for ~$100M in Q2 2024; maintained strong cash position of ~$1.4B.
Q3 2024 throughput guidance 885,000-945,000 bpd; full-year refining capex ~$850M; SBR renewable diesel avg 16,500 bpd in Q2, Q3 affected by catalyst change.

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