PBF Energy: 4Q Earnings Snapshot
PARSIPPANY, N.J. (AP) _ PBF Energy Inc. (PBF) on Thursday reported a fourth-quarter loss of $353.7 million, after reporting a profit in the same period a year earlier.
The Parsippany, New Jersey-based company said it had a loss of $2.97 per share. Earnings, adjusted for one-time gains and costs, were $1.03 per share.
The results exceeded Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of 77 cents per share.
The refiner posted revenue of $6.29 billion in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $6.12 billion.
For the year, the company reported profit of $128.3 million, or $1.10 per share. Revenue was reported as $27.19 billion.
PBF Energy shares have increased 11 percent since the beginning of the year. The stock has climbed 21 percent in the last 12 months.