The earnings call reflects a period of challenging market conditions with financial losses. However, the company is focused on operational efficiencies and returning value to shareholders through dividends and share repurchases. The cost savings initiative indicates a strategic approach to improving future financial performance.
Company Guidance
During the PBF Energy third quarter 2024 earnings call, the company provided guidance for upcoming operations in the fourth quarter, emphasizing several key metrics. They anticipate renewable diesel production to increase from 13,000 barrels per day in Q3 to 16,000-17,000 barrels per day in Q4. Additionally, they project full-year 2024 capital expenditures to hit the upper limit of their guidance, approximately $850 million. PBF Energy also aims to achieve $200 million in run rate cash savings by the end of 2025, driven by improvements in operating costs and capital expenditures. Furthermore, the company highlighted a recent 10% increase in their quarterly dividend to $0.275 per share, reflecting confidence in their operations and medium- to long-term business outlook. They also returned $104 million in cash to shareholders in Q3, including around $75 million in share repurchases, and reported a Q3 adjusted EBITDA loss of $60.1 million.
Operational Performance
The refineries operated well with no planned maintenance or significant unplanned downtime, reflecting the dedication of employees.
Shareholder Returns
Returned $104 million to shareholders in Q3, including $75 million in share repurchases. The Board approved a 10% increase in the quarterly dividend to $0.275 per share.
Cost Savings Initiative
PBF is targeting $200 million in run rate cash savings by the end of 2025 through business improvement initiatives across their refining footprint.
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PBF Energy (PBF) Earnings, Revenues Date & History
The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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PBF Earnings-Related Price Changes
Report Date
Price 1 Day Before
Price 1 Day After
Percentage Change
Oct 31, 2024
$28.57
$28.26
-1.09%
Aug 01, 2024
$40.10
$38.58
-3.79%
May 02, 2024
$51.09
$51.49
+0.78%
Feb 15, 2024
$50.88
$49.73
-2.26%
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does PBF Energy (PBF) report earnings?
PBF Energy (PBF) is schdueled to report earning on Feb 13, 2025, TBA Not Confirmed.
What is PBF Energy (PBF) earnings time?
PBF Energy (PBF) earnings time is at Feb 13, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.