PBF Logistics (PBFX) Reports Q1 EPS of $0.65
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PBF Logistics Increases Quarterly Distribution to $0.42 per Common Unit and Announces First Quarter 2016 Earnings Results
April 28, 2016 6:30 AM EDTPARSIPPANY, N.J., April 28, 2016 /PRNewswire/ --Â PBF Logistics LP (NYSE: PBFX, the "Partnership") announced today first quarter 2016 net income of $19.1 million, or $0.53 per common unit. During the first quarter, the Partnership generated earnings before interest, income taxes, depreciation, and amortization ("EBITDA") of $28.0 million and distributable cash flow of $21.4 million.
"At the end of the quarter we successfully raised over $50 million through an equity offering to the public. This was our first follow-on offering and we are pleased with the outcome given the significant market volatility. We believe that investors saw the merits of the upcoming East... More
PBF Energy Reports First Quarter 2016 Results, Declares Dividend of $0.30 Per Share
April 28, 2016 6:29 AM EDTPARSIPPANY, 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
