We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
PBF Energy (PBF) Reports Q2 Earnings: What Key Metrics Have to Say
Read MoreHide Full Article
For the quarter ended June 2023, PBF Energy (PBF - Free Report) reported revenue of $9.16 billion, down 35% over the same period last year. EPS came in at $2.29, compared to $10.58 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $9.41 billion, representing a surprise of -2.69%. The company delivered an EPS surprise of +3.15%, with the consensus EPS estimate being $2.22.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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: $14.3 per barrel versus $17.99 per barrel estimated by five analysts on average.
Gross refining margin, excluding special items - Gulf Coast: $12.54 per barrel versus the five-analyst average estimate of $15.21 per barrel.
Gross refining margin, excluding special items - East Coast: $8.09 per barrel versus the five-analyst average estimate of $16.01 per barrel.
Gross refining margin, excluding special items - West Coast: $19.41 per barrel compared to the $21.83 per barrel average estimate based on five analysts.
Gross refining margin, excluding special items: $13.62 per barrel versus $18.92 per barrel estimated by four analysts on average.
Production - West Coast: 312.8 KBBL/D compared to the 316.76 KBBL/D average estimate based on four analysts.
Production - East Coast: 300.2 KBBL/D versus the four-analyst average estimate of 291.08 KBBL/D.
Production - Gulf Coast: 170.7 KBBL/D versus the four-analyst average estimate of 190.19 KBBL/D.
Production - Mid-Continent: 162 KBBL/D versus 153.35 KBBL/D estimated by four analysts on average.
Revenues- Logistics: $94 million compared to the $95.38 million average estimate based on four analysts. The reported number represents a change of +0.6% year over year.
Revenues- Refining: $9.15 billion compared to the $8.93 billion average estimate based on four analysts. The reported number represents a change of -35% year over year.
Revenues- Eliminations: -$84.80 million versus -$80.44 million estimated by three analysts on average.
Shares of PBF Energy have returned +17% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
PBF Energy (PBF) Reports Q2 Earnings: What Key Metrics Have to Say
For the quarter ended June 2023, PBF Energy (PBF - Free Report) reported revenue of $9.16 billion, down 35% over the same period last year. EPS came in at $2.29, compared to $10.58 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $9.41 billion, representing a surprise of -2.69%. The company delivered an EPS surprise of +3.15%, with the consensus EPS estimate being $2.22.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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: $14.3 per barrel versus $17.99 per barrel estimated by five analysts on average.
- Gross refining margin, excluding special items - Gulf Coast: $12.54 per barrel versus the five-analyst average estimate of $15.21 per barrel.
- Gross refining margin, excluding special items - East Coast: $8.09 per barrel versus the five-analyst average estimate of $16.01 per barrel.
- Gross refining margin, excluding special items - West Coast: $19.41 per barrel compared to the $21.83 per barrel average estimate based on five analysts.
- Gross refining margin, excluding special items: $13.62 per barrel versus $18.92 per barrel estimated by four analysts on average.
- Production - West Coast: 312.8 KBBL/D compared to the 316.76 KBBL/D average estimate based on four analysts.
- Production - East Coast: 300.2 KBBL/D versus the four-analyst average estimate of 291.08 KBBL/D.
- Production - Gulf Coast: 170.7 KBBL/D versus the four-analyst average estimate of 190.19 KBBL/D.
- Production - Mid-Continent: 162 KBBL/D versus 153.35 KBBL/D estimated by four analysts on average.
- Revenues- Logistics: $94 million compared to the $95.38 million average estimate based on four analysts. The reported number represents a change of +0.6% year over year.
- Revenues- Refining: $9.15 billion compared to the $8.93 billion average estimate based on four analysts. The reported number represents a change of -35% year over year.
- Revenues- Eliminations: -$84.80 million versus -$80.44 million estimated by three analysts on average.
View all Key Company Metrics for PBF Energy here>>>Shares of PBF Energy have returned +17% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.