Q1 2020 PBF Logistics LP Earnings Call
PBF Energy Inc. (NYSE: PBF) today reported first quarter 2020 loss from operations of $1,366.8 million as compared to income from operations of $364.6 million for the first quarter of 2019. Excluding special items, first quarter 2020 loss from operations was $134.0 million as compared to loss from operations of $141.4 million for the first quarter of 2019. PBF Energy's financial results reflect the consolidation of PBF Logistics LP (NYSE: PBFX), a master limited partnership of which PBF indirectly owns the general partner and approximately 48% of the limited partner interests as of quarter-end.
PBF Logistics LP (NYSE:PBFX) announced today that it will release its earnings results for the first quarter 2020 on Friday, May 8, 2020. The company will host a conference call and webcast regarding quarterly results and other business matters on Friday, May 8, 2020, at 11:00 a.m. ET.
PBF Energy Inc. (NYSE: PBF) today announced a number of decisive steps taken as part of a strategic plan for PBF to navigate current extraordinary and volatile markets. The company has taken the following aggressive steps to increase PBF's flexibility and responsiveness:
Image source: The Motley Fool. PBF Logistics LP (NYSE: PBFX)Q1 2020 Earnings CallMay 15, 2020, 11:00 a.m. ETContents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: OperatorWelcome to the PBF Logistics First Quarter 2020 Earnings Conference Call and Webcast.
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PBF Logistics LP (NYSE:PBFX) announced today that it has changed the date of its previously announced earnings release and earnings call and will now report its results for the first quarter 2020 on Friday, May 15, 2020. The company will host a conference call and webcast regarding quarterly results and other business matters on Friday, May 15, 2020, at 11:00 a.m. ET.
PBF Energy Inc. (NYSE:PBF) ("PBF Energy") today announced that its indirect subsidiary, PBF Holding Company LLC ("PBF Holding"), intends to offer, subject to market and other conditions, $1,000.0 million in aggregate principal amount of senior secured notes due 2025 (the "Notes") in a private offering. The Notes will be co-issued by PBF Finance Corporation, a wholly owned subsidiary of PBF Holding. Completion of the offering is subject to, among other things, pricing and market conditions. PBF Holding intends to use the net proceeds from the offering for general corporate purposes.
PBF Energy Inc. (NYSE:PBF) announced today that it will release its earnings results for the first quarter 2020 on Friday, May 8, 2020. The company will host a conference call and webcast regarding quarterly results and other business matters on Friday, May 8, 2020, at 8:30 a.m. ET.
PBF Logistics LP (NYSE:PBFX) announces availability of 2019 K-1 Tax Packages. The packages are available online and may be accessed at:
Let's see if PBF Logistics (PBFX) stock is a good choice for value-oriented investors right now from multiple angles.
PBF Logistics LP (NYSE:PBFX, the "Partnership") today announced first quarter 2020 net income attributable to the limited partners of $34.8 million, or $0.56 per common unit. During the quarter, the Partnership generated cash from operations of $18.6 million, EBITDA attributable to PBFX of $56.3 million, Adjusted EBITDA of $57.9 million and distributable cash flow of $40.8 million. Included in reported results for the first quarter are $1.6 million, or $0.03 per common unit, of expenses related to pending and non-consummated acquisitions, non-cash unit-based compensation and environmental remediation costs associated with the East Coast Terminals.
PBF Energy Inc. (NYSE: PBF) today announced it has completed, and received the $530 million consideration for, the sale of five steam methane reformer (SMR) hydrogen production plants to Air Products (NYSE: APD). PBF Energy has entered into long-term supply agreements with Air Products at the Martinez, Torrance and Delaware City refineries.
To protect the health and safety of its stockholders, employees and other stakeholders during the coronavirus pandemic, PBF Energy Inc. (NYSE: PBF) today announced that that its 2020 Annual Meeting of Stockholders will be conducted through an online virtual meeting, and will not include an in-person event. The previously announced date and time of the 2020 Annual Meeting (June 4, 2020, at 10:00 a.m. Eastern Time), and the business items to be considered at the 2020 Annual Meeting, remain the same. However, stockholders will not be able to attend the meeting in person.
Shares of PBF Logistics (NYSE:PBFX) rose 0.2% in pre-market trading after the company reported Q1 results.Quarterly Results Earnings per share were up 22.92% over the past year to $0.59, which beat the estimate of $0.50.Revenue of $93,029,000 up by 17.99% from the same period last year, which beat the estimate of $89,700,000.Outlook Earnings guidance hasn't been issued by the company for now.PBF Logistics hasn't issued any revenue guidance for the time being.Conference Call Details Date: May 15, 2020View more earnings on PBFXWebcast URL: https://78449.choruscall.com/dataconf/productusers/pbfx/mediaframe/37456/indexr.htmlRecent Stock Performance Company's 52-week high was at $22.0052-week low: $3.06Price action over last quarter: down 58.57%Company Overview PBF Logistics LP is a US-based limited partnership which owns or leases, operates, develops and acquires crude oil and refined petroleum products terminals, pipelines, storage facilities and similar logistics assets. The company operates through two business segments namely Transportation and terminaling segment and Storage segment. The Transportation and terminaling segment which derives majority revenue consists of CR Rail Terminal, DCR West Rack, Toledo Truck Terminal and others. The Storage segment covers Toledo storage facility which consists of tanks for storing crude oil, refined products, and intermediates.See more from Benzinga * Recap: BIO-key International Q4 Earnings * CooTek: Q1 Earnings Insights * PBF Energy: Q1 Earnings Insights(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
PBF Energy Inc. (NYSE:PBF) ("PBF Energy") today announced that its indirect subsidiary, PBF Holding Company LLC ("PBF Holding"), priced $1.0 billion in aggregate principal amount of 9.25% senior secured notes due 2025 (the "Notes") in a private offering. The offering is expected to close on May 13, 2020, subject to customary closing conditions. The Notes will be co-issued by PBF Finance Corporation, a wholly owned subsidiary of PBF Holding. PBF Holding intends to use the net proceeds from the offering for general corporate purposes.
PBF Energy Inc. (NYSE:PBF) announced today that it has changed the date of its previously announced earnings release and earnings call and will now report its results for the first quarter 2020 on Friday, May 15, 2020. The company will host a conference call and webcast regarding quarterly results and other business matters on Friday, May 15, 2020, at 8:30 a.m. ET.
PBF Logistics LP (NYSE:PBFX) filed with the U.S. Securities and Exchange Commission its Annual Report on Form 10-K for the fiscal year ended December 31, 2019. The filing can be viewed on the Partnership's website at www.pbflogistics.com.
Q4 2019 PBF Logistics LP Earnings Call
PBF Logistics (PBFX) saw a big move last session, as its shares jumped more than 9% on the day, amid huge volumes.