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Is a Beat in Store for PBF Energy (PBF) in Q2 Earnings?

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PBF Energy Inc. (PBF - Free Report) is set to report second-quarter 2022 results on Jul 28, before the opening bell.

In the last reported quarter, PBF Energy posted earnings of 35 cents per share, beating the Zacks Consensus Estimate of 26 cents, owing to increased contributions from the refining segment.

In the trailing four quarters, PBF Energy beat the Zacks Consensus Estimate thrice and missed once, delivering an earnings surprise of 61.5%, on average. This is depicted in the graph below:

PBF Energy Inc. Price and EPS Surprise

PBF Energy Inc. Price and EPS Surprise

PBF Energy Inc. price-eps-surprise | PBF Energy Inc. Quote

Estimate Trend

The Zacks Consensus Estimate for PBF Energy’s second-quarter earnings per share of $6.57 has witnessed five upward and no downward movements in the past 30 days. The consensus estimate suggests an increase of 621.4% from the year-ago reported number.

The Zacks Consensus Estimate for the to-be-reported quarter’s revenues of $9.8 billion indicates a 42.3% year-over-year improvement.

Earnings Whispers

Our proven model predicts an earnings beat for PBF Energy this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat.

Earnings ESP: PBF Energy has an Earnings ESP of +20.67%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: PBF Energy currently sports a Zacks Rank #1.

Key Factors

In North America, PBF Energy is among the leading independent refiners operating oil refineries and associated facilities in New Jersey, Delaware, California, Louisiana and Ohio. Rising oil production and significant crude export demand – due to a decline in Russian exports for invading Ukraine – are likely to have aided refiners like PBF Energy in the June quarter.

The Zacks Consensus Estimate for PBF’s crude oil and feedstocks throughput in the June quarter is pegged at 921 thousand barrels per day, suggesting an improvement from 874 thousand barrels per day in the prior-year quarter.

Other Stocks That Warrant a Look

Here are some other firms that you may want to consider as these too have the right combination of elements to post an earnings beat in the upcoming quarterly reports:

Hess Corporation (HES - Free Report) has an Earnings ESP of +3.73% and is a Zacks #2 Ranked player. You can see the complete list of today’s Zacks #1 Rank stocks here.

Hess is scheduled to release second-quarter results on Jul 27. The Zacks Consensus Estimate for HES’ earnings is pegged at $2.05 per share, suggesting an increase of 754.2% from the prior-year reported figure.

Enterprise Products Partners L.P. (EPD - Free Report) has an Earnings ESP of +2.23% and a Zacks Rank of 2.

Enterprise Products is scheduled to report second-quarter results on Aug 3. The Zacks Consensus Estimate for EPD’s earnings is pegged at 62 cents per share, suggesting a significant increase from the prior-year reported figure.

Valero Energy Corporation (VLO - Free Report) has an Earnings ESP of +10.22% and a Zacks Rank #1.

Valero Energy is scheduled to release second-quarter earnings on Jul 28. The Zacks Consensus Estimate for Valero Energy’s earnings is pegged at $8.78 per share, suggesting a massive increase from the prior-year reported figure.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.