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PBF Energy: 1Q Earnings Snapshot

Associated Press
Updated ·1-min read

PARSIPPANY, N.J. (AP) _ PBF Energy Inc. (PBF) on Friday reported a first-quarter loss of $1.07 billion, after reporting a profit in the same period a year earlier.

On a per-share basis, the Parsippany, New Jersey-based company said it had a loss of $8.93. Losses, adjusted for non-recurring costs, were $1.19 per share.

The results missed Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for a loss of $1.09 per share.

The refiner posted revenue of $5.28 billion in the period, exceeding Street forecasts. Six analysts surveyed by Zacks expected $4.67 billion.

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PBF Energy shares have fallen 70% since the beginning of the year. The stock has decreased 68% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PBF at https://www.zacks.com/ap/PBF