PBF Energy (PBF) Misses Q1 EPS by 19c

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Go back to PBF Energy (PBF) Misses Q1 EPS by 19c

PBF Energy Reports First Quarter 2016 Results, Declares Dividend of $0.30 Per Share

April 28, 2016 6:29 AM EDT

PARSIPPANY, N.J., April 28, 2016 /PRNewswire/ -- PBF Energy Inc. (NYSE: PBF) today reported a first quarter 2016 operating loss, excluding special items, of $64.5 million as compared to operating income of $151.2 million for the first quarter of 2015. Special items in the first quarter 2016 results include a net, non-cash, after-tax gain of $35.7 million, or $0.35 per share, lower-of-cost-or-market ("LCM") inventory adjustment which reduced the operating loss.

Adjusted fully-converted net loss for the first quarter 2016, excluding special items, was $66.5 million, or $0.65 per share on a fully exchanged, fully diluted basis, as described below, compared to... More