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PBF Energy (PBF) Reports Q3 Earnings: What Key Metrics Have to Say
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For the quarter ended September 2023, PBF Energy (PBF - Free Report) reported revenue of $10.73 billion, down 15.9% over the same period last year. EPS came in at $6.61, compared to $7.96 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $9.84 billion, representing a surprise of +9.12%. The company delivered an EPS surprise of +36.01%, with the consensus EPS estimate being $4.86.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how PBF Energy performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Gross refining margin, excluding special items - Mid-Continent: $17.46 per barrel versus the six-analyst average estimate of $14.99 per barrel.
Gross refining margin, excluding special items - Gulf Coast: $18.03 per barrel compared to the $16.9 per barrel average estimate based on six analysts.
Gross refining margin, excluding special items - East Coast: $17.51 per barrel versus the six-analyst average estimate of $14.57 per barrel.
Gross refining margin, excluding special items - West Coast: $32.85 per barrel versus the six-analyst average estimate of $25.83 per barrel.
Gross refining margin, excluding special items: $22.24 per barrel compared to the $18.59 per barrel average estimate based on five analysts.
Production - West Coast: 295.3 thousands of barrels of oil per day versus 313.47 thousands of barrels of oil per day estimated by five analysts on average.
Production - East Coast: 314.3 thousands of barrels of oil per day versus the five-analyst average estimate of 323.82 thousands of barrels of oil per day.
Production - Gulf Coast: 187.1 thousands of barrels of oil per day versus 181.25 thousands of barrels of oil per day estimated by five analysts on average.
Production - Mid-Continent: 156 thousands of barrels of oil per day compared to the 159.37 thousands of barrels of oil per day average estimate based on five analysts.
Revenues- Logistics: $94.80 million versus $92.88 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +5.8% change.
Revenues- Refining: $10.73 billion versus the four-analyst average estimate of $10.65 billion. The reported number represents a year-over-year change of -15.9%.
Revenues- Eliminations: -$86.60 million versus the three-analyst average estimate of -$78.42 million. The reported number represents a year-over-year change of +12%.
Shares of PBF Energy have returned +5.6% over the past month versus the Zacks S&P 500 composite's -1.1% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term.
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PBF Energy (PBF) Reports Q3 Earnings: What Key Metrics Have to Say
For the quarter ended September 2023, PBF Energy (PBF - Free Report) reported revenue of $10.73 billion, down 15.9% over the same period last year. EPS came in at $6.61, compared to $7.96 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $9.84 billion, representing a surprise of +9.12%. The company delivered an EPS surprise of +36.01%, with the consensus EPS estimate being $4.86.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how PBF Energy performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Gross refining margin, excluding special items - Mid-Continent: $17.46 per barrel versus the six-analyst average estimate of $14.99 per barrel.
- Gross refining margin, excluding special items - Gulf Coast: $18.03 per barrel compared to the $16.9 per barrel average estimate based on six analysts.
- Gross refining margin, excluding special items - East Coast: $17.51 per barrel versus the six-analyst average estimate of $14.57 per barrel.
- Gross refining margin, excluding special items - West Coast: $32.85 per barrel versus the six-analyst average estimate of $25.83 per barrel.
- Gross refining margin, excluding special items: $22.24 per barrel compared to the $18.59 per barrel average estimate based on five analysts.
- Production - West Coast: 295.3 thousands of barrels of oil per day versus 313.47 thousands of barrels of oil per day estimated by five analysts on average.
- Production - East Coast: 314.3 thousands of barrels of oil per day versus the five-analyst average estimate of 323.82 thousands of barrels of oil per day.
- Production - Gulf Coast: 187.1 thousands of barrels of oil per day versus 181.25 thousands of barrels of oil per day estimated by five analysts on average.
- Production - Mid-Continent: 156 thousands of barrels of oil per day compared to the 159.37 thousands of barrels of oil per day average estimate based on five analysts.
- Revenues- Logistics: $94.80 million versus $92.88 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +5.8% change.
- Revenues- Refining: $10.73 billion versus the four-analyst average estimate of $10.65 billion. The reported number represents a year-over-year change of -15.9%.
- Revenues- Eliminations: -$86.60 million versus the three-analyst average estimate of -$78.42 million. The reported number represents a year-over-year change of +12%.
View all Key Company Metrics for PBF Energy here>>>Shares of PBF Energy have returned +5.6% over the past month versus the Zacks S&P 500 composite's -1.1% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term.