PBF Logistics (PBFX) Posts Inline Q2 EPS
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PBF Energy Reports Second Quarter 2016 Results, Declares Dividend of $0.30 Per Share
July 29, 2016 6:30 AM EDTPARSIPPANY, N.J., July 29, 2016 /PRNewswire/ -- PBF Energy Inc. (NYSE: PBF) today reported a second quarter 2016 income from operations of $234.8 million as compared to income from operations of $273.8 million for the second quarter of 2015. Excluding special items, second quarter 2016 income from operations was $77.0 million as compared to income from operations of $167.8 million for the second quarter of 2015. Special items in the second quarter 2016 results include a net, non-cash, after-tax gain of $95.3 million, or $0.92 per share, lower-of-cost-or-market ("LCM") inventory adjustment which increased operating income. Additionally, included in our results were net after-tax charges... More
PBF Logistics Increases Quarterly Distribution to $0.43 per Common Unit and Announces Second Quarter 2016 Earnings Results
July 29, 2016 6:30 AM EDTPARSIPPANY, N.J., July 29, 2016 /PRNewswire/ --Â PBF Logistics LP (NYSE:PBFX, the "Partnership") announced today second quarter 2016 net income of $16.3 million, or $0.41 per common unit. During the second quarter, the Partnership generated cash from operations of approximately $17.0 million, earnings before interest, income taxes, depreciation, and amortization ("EBITDA") of $26.0 million and distributable cash flow of $20.0 million. Included in our general and administrative expenses for the second quarter are $3.5 million, or $0.10 per common unit, of transaction expenses related to the acquisition of four refined products terminals (the "East Coast Terminals") from an affiliate of Plains All American... More
