PBF Energy: 2Q Earnings Snapshot
PARSIPPANY, N.J. (AP) _ PBF Energy Inc. (PBF) on Thursday reported a second-quarter loss of $32.2 million, 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 27 cents. Earnings, adjusted for non-recurring costs, came to 83 cents per share.
The results missed Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 87 cents per share.
The refiner posted revenue of $6.56 billion in the period, exceeding Street forecasts. Eight analysts surveyed by Zacks expected $6.04 billion.
PBF Energy shares have declined 15% since the beginning of the year. The stock has fallen 40% in the last 12 months.