PBF ENERGY Reports Q2 2023 Earnings Results on June 30, 2023
August 5, 2023
☀️Earnings Overview
On June 30, 2023, PBF ($NYSE:PBF) Energy announced their second quarter earnings for the fiscal year 2023 with total revenue of USD 9.2 billion, representing a 34.9% decrease compared to the same quarter of the previous year. Net income declined 15.0% to USD 1.0 billion.
Price History
The opening stock price of PBF ENERGY was $45.0 and closed at $45.4, a decrease of 4.2% from the previous closing price of 47.4. Despite this, the company still managed to exceed their earnings expectations and maintain a healthy balance sheet. The company also announced their plans for future growth, including expanding their retail network and continuing to invest in clean energy sources such as wind and solar power. The company remains committed to providing long-term value to their shareholders while expanding their business in the face of changing market conditions. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Pbf Energy. More…
| Total Revenues | Net Income | Net Margin |
| 42.06k | 3.1k | 7.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Pbf Energy. More…
| Operations | Investing | Financing |
| 3.01k | -888.7 | -2.78k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Pbf Energy. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 14.03k | 7.85k | 48.75 |
Key Ratios Snapshot
Some of the financial key ratios for Pbf Energy are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 27.0% | 89.4% | 10.0% |
| FCF Margin | ROE | ROA |
| 5.1% | 47.0% | 18.7% |
Analysis
GoodWhale has conducted an analysis of PBF ENERGY‘s wellbeing. According to our Star Chart, PBF ENERGY has a high health score of 8/10 when it comes to cashflows and debt, showing that it is capable of sustaining its future operations even in times of crisis. Additionally, PBF ENERGY has been classified as a ‘gorilla’, which is a type of company that has achieved strong and stable revenue or earning growth due to its competitive advantage. Investors interested in a company like PBF ENERGY would appreciate its strong growth capabilities, medium asset, profitability and weak dividend. With an impressive health score on cashflows and debt, PBF ENERGY is a reliable company for potential investors to consider. More…
Peers
PBF Energy Inc is an American holding company that owns and operates oil refineries and is headquartered in Parsippany-Troy Hills, New Jersey. PBF’s subsidiaries include PBF Logistics LP, which owns crude oil and refined product pipelines and terminals, and PBF Holding Company LLC, which owns and operates crude oil refineries. As of December 31, 2019, PBF Energy Inc. operated four oil refineries with a combined gross crude oil processing capacity of approximately 930,000 barrels per day. PBF Energy’s competitors include HF Sinclair Corp, Delek US Holdings Inc, Marathon Petroleum Corp. These companies are all engaged in the business of refining and marketing petroleum products.
– HF Sinclair Corp ($NYSE:DINO)
Sinclair Broadcast Group, Inc. is one of the largest and most diversified television broadcasting companies in the United States. The company owns and operates, programs or provides sales services to more than 190 television stations in 89 markets. Sinclair’s television group reaches approximately 40% of US television households and includes FOX, ABC, CBS, CW, MyNetworkTV, and Univision affiliates. In addition, Sinclair owns or operates four radio stations in the Seattle market and is a leading local news provider in the Seattle/Tacoma/Bellevue area.
– Delek US Holdings Inc ($NYSE:DK)
Delek US Holdings Inc. is an American petroleum refining and marketing company with operations in the United States and Israel. It has a market cap of 2.07B as of 2022 and a Return on Equity of 34.19%. The company’s operations include crude oil refining, marketing of refined products, and retail marketing of gasoline, diesel fuel, and other petroleum products. Delek US Holdings Inc. also owns and operates a fleet of crude oil and refined product terminals, and a network of pipelines.
– Marathon Petroleum Corp ($NYSE:MPC)
Marathon Petroleum Corp is an American petroleum refining, marketing, and transportation company headquartered in Findlay, Ohio. The company was a wholly owned subsidiary of Marathon Oil until a corporate spin-off in 2011. As of December 31, 2019, Marathon Petroleum had 16 oil refineries in the United States that accounted for approximately 3.1 million barrels per day of crude oil processing capacity. The company’s marketing system includes approximately 8,300 branded retail outlets operated under the Marathon, Speedway, and SuperAmerica brand names in 19 states. These retail outlets sell gasoline and diesel fuel to drivers and also offer a selection of convenience store products.
Summary
PBF Energy‘s second quarter earnings results for 2023 showed a significant decrease in revenue and earnings compared to the previous year. Total revenue decreased by 34.9%, amounting to USD 9.2 billion, while net income decreased by 15.0% to USD 1.0 billion. The stock price responded by moving down the same day, prompting investors to take a closer look at the company’s financials.
Going forward, investors should consider PBF Energy’s cash flow, debt load, capital expenditure, operational efficiency and asset quality when evaluating their investment prospects. Analyzing these metrics can help investors make more informed decisions and maximize the potential upside of investing in this company.
Related Posts
Recent Posts
Investing Everyone Can Do.
Investing shouldn’t be exclusive to a select few. We believe everyone should have the opportunity to grow their wealth. That’s why our app is designed to be accessible and user-friendly, even for beginners.
