PBF Energy Inc. (NYSE:PBF) Q1 2024 Earnings Conference Call May 2, 2024 8:30 AM ET Company Participants Colin Murray - Investor Relations Matt Lucey - President and Chief Executive Officer Karen Davis - Chief Financial Officer Mike Bukowski - Head, Refining Paul Davis - Senior Vice President, Supply, Trading and Optimization Thomas O’Connor - Senior Vice President, Commodity Risk and Strategy Conference Call Participants Roger Read - Wells Fargo Ryan Todd - Piper Sandler Manav Gupta - UBS Matthew Blair - TP ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-35764 PBF ENERGY INC. (Exact name of registrant as specified in its charter) Delaware 45-3763855 (State or other jurisdiction ...

PBF Energy Announces First Quarter 2024 Results and Declares Dividend of $0.25 per Share PARSIPPANY, NJ - May 2, 2024 - PBF Energy Inc. (NYSE:PBF) today reported first quarter 2024 income from operations of $145.1 million as compared to income from operations of $532.4 million for the first quarter of 2023. Excluding special items, first quarter 2024 income from operations was $143.9 million as compared to income from operations of $514.4 million for the first quarter of 2023. The company reported first qua ...

PBF Energy Inc. (NYSE:PBF) Q4 2023 Earnings Conference Call February 15, 2024 8:30 AM ET Company Participants Colin Murray - Vice President, Investor Relations Matthew C. Lucey - President and Chief Executive Officer Karen B. Davis - Chief Financial Officer Paul Davis - Senior Vice President, Supply, Trading and Optimization Jim Fedena - Senior Vice President, Logistics, Renewable Fuels, and Strategic Assets Thomas L. O’Connor - Senior Vice President, Commodity Risk and Strategy Conference Call Participants ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark one) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended: December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-35764 PBF ENERGY INC. (Exact name of registrant as specified in its charter) Delaware 45-3763855 (I.R.S. Employer Identification No ...

Financial Data and Key Metrics Changes - For Q3 2023, the company reported adjusted net income of $6.61 per share and adjusted EBITDA of $1.3 billion, which includes approximately $14.6 million generated from equity interest in St. Bernard Renewables [10] - The cumulative impact of special items decreased third quarter net income by an after-tax amount of $65 million or $0.50 a share [3] - Cash flow from operations for the quarter was $1.15 billion, excluding working capital changes, with working capital being a headwind of $618 million [118] Business Line Data and Key Metrics Changes - The renewable diesel segment reported positive earnings in its first full quarter of operations [7] - The company reduced outstanding environmental payables by $339 million, bringing the total reduction for the year to over $900 million [32] - Consolidated CapEx for Q3 was approximately $190 million, with expectations for total CapEx in 2023 to be around $800 million to $850 million, above previous guidance due to increased scope of work [12] Market Data and Key Metrics Changes - The West Coast market remains the strongest in terms of demand, followed closely by the East Coast, while PADD 2 and the Gulf Coast are currently the weakest markets [48] - Despite a recent pullback in gasoline prices, the company expects prices to stabilize and compound cracks to remain above previous mid-cycle levels [26] - The pricing environment is expected to remain volatile, but the company is well-positioned to respond due to its high complexity refining footprint [26] Company Strategy and Development Direction - The company aims to leverage its core strengths in assets and expertise to make disciplined investments in complementary businesses with compelling risk-return ratios [115] - The company has completed its balance sheet transformation and is focused on maintaining a robust balance sheet while rewarding shareholders through dividends and share repurchases [14][30] - The MACH2 project has been selected as a regional hydrogen hub, indicating the company's commitment to participating in the future of energy [29] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to adapt to volatile commodity markets and highlighted the importance of operational reliability [117] - The company anticipates that the current market conditions will impact fourth quarter capture rates due to planned maintenance and unplanned downtime [8][21] - Management noted that while there are seasonal differences in demand, overall demand has remained stable with no significant declines in the wholesale business [47] Other Important Information - The company has reinstated and increased its dividend, reflecting its commitment to shareholder returns [9] - The company has executed a share repurchase program, repurchasing $590 million worth of shares since its inception [27] - The company ended the quarter with almost $1.9 billion in cash and just over $1.2 billion of debt, retaining incremental cash for future uses [35] Q&A Session Summary Question: Thoughts on CITGO and U.S. refining opportunities - Management indicated that any potential opportunities must have compelling returns that exceed the benefits of share buybacks [15][16] Question: Guidance on SBR and operational performance - Management noted that the startup of SBR has had its challenges but overall performance has been satisfactory, with some optimization work planned [38][39] Question: Sustainability of high capture rates - Management acknowledged the strong performance but indicated that ongoing maintenance and operational issues could impact future capture rates [41][42] Question: Impact of WCS spreads and regional gasoline markets - Management confirmed that widening crude differentials are a tailwind and discussed the strength of East and West Coast capture rates [88][89] Question: Insights on the MACH2 hydrogen hub - Management described the MACH2 project as a significant opportunity, emphasizing the need for competitive returns on any capital investments [92][93]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: September 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-35764 PBF ENERGY INC. (Exact name of registrant as specified in its charter) Delaware 45-3763855 (State or other jurisdict ...

PBF Energy, Inc. (NYSE:PBF) Q2 2023 Earnings Conference Call August 3, 2023 8:30 AM ET Company Participants Colin Murray - Senior Director, IR Thomas Nimbley - Executive Chairman Matthew Lucey - President, CEO & Director Timothy Davis - SVP of Supply, Trading & Optimization Thomas O’Malley - Consultant Karen Davis - SVP & CFO Conference Call Participants Roger Read - Wells Fargo Securities Doug Leggate - Bank of America Merrill Lynch John Royall - JPMorgan Chase & Co. Paul Sankey - Sankey Research Matthew B ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-35764 PBF ENERGY INC. (Exact name of registrant as specified in its charter) Delaware 45-3763855 (State or other jurisdiction o ...

PBF Energy, Inc. (NYSE:PBF) Q1 2023 Earnings Conference Call May 5, 2023 8:30 AM ET Company Participants Colin Murray - Senior Director, IR Thomas O'Connor - SVP, Commodity Risk & Strategy Matthew Lucey - President Karen Davis - SVP & CFO James Fedena - SVP, Logistics, Renewable Fuels & Strategic Assets Timothy Davis - SVP, Supply, Trading & Optimization Thomas Nimbley - CEO & Chairman Conference Call Participants Kalein Akamine - Bank of America Merrill Lynch Manav Gupta - UBS Ryan Todd - Piper Sandler & C ...