PBF Energy: 2Q Earnings Snapshot
PARSIPPANY, N.J. (AP) _ PBF Energy Inc. (PBF) on Thursday reported second-quarter net income of $272.2 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Parsippany, New Jersey-based company said it had net income of $2.37. Earnings, adjusted for non-recurring gains, came to $1.38 per share.
The results surpassed Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $1.35 per share.
The refiner posted revenue of $7.44 billion in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $5.73 billion.
PBF Energy shares have climbed 30 percent since the beginning of the year. The stock has climbed 97 percent in the last 12 months.