PBF Energy (PBF) Tops Q4 EPS by 38c, Revenues Miss

PBF Energy (NYSE: PBF) reported Q4 EPS of $1.03, $0.38 better than the analyst estimate of $0.65. Revenue for the quarter came in at $6.29 billion versus the consensus estimate of $6.87 billion.

Tom Nimbley, PBF Energy's Chairman and CEO, said, "Our strong fourth quarter results capped off a solid year for PBF Energy. We were able to demonstrate the flexibility of our high-complexity refining system by sourcing advantaged crude to help blunt the impact of an oversupplied product market, especially gasoline." Mr. Nimbley continued, "Looking forward, our outlook remains positive. Strong clean product demand should return inventories to their seasonal norms as we move into the spring maintenance season and make the shift to summer-grade gasoline. Additionally, we are strategically positioning PBF in front of the upcoming IMO marine fuel regulation changes by advancing our turnaround activities and completing the bulk of our major maintenance in the first half of 2019. Finally, PBF Energy continues to be a supportive sponsor of PBF Logistics and the elimination of the IDRs highlights our commitment to the future of PBF Logistics and its value as a partner in the growth of both companies."

For earnings history and earnings-related data on PBF Energy (PBF) click here.

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