Pbf Energy Inc. Reports Earnings Results for the Second Quarter Ended June 30, 2021
July 29, 2021 at 04:00 pm IST
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PBF Energy Inc. announced earnings results for the second quarter ended June 30, 2021. For the second quarter, the company announced sales was USD 6,897.9 million compared to USD 2,515.8 million a year ago. Operating income was USD 147.5 million compared to USD 620.8 million a year ago. Net income was USD 47.9 million compared to USD 389.1 million a year ago. Basic earnings per share from continuing operations was USD 0.4 compared to USD 3.24 a year ago. Diluted earnings per share from continuing operations was USD 0.39 compared to USD 3.23 a year ago. For the half year, sales was USD 11,822.7 million compared to USD 7,793.3 million a year ago. Operating income was USD 205.2 million compared to operating loss of USD 746 million a year ago. Net income was USD 6.6 million compared to net loss of USD 676.8 million a year ago. Basic earnings per share from continuing operations was USD 0.05 compared to basic loss per share from continuing operations of USD 5.66 a year ago. Diluted earnings per share from continuing operations was USD 0.05 compared to diluted loss per share from continuing operations of USD 5.67 a year ago.
PBF Energy Inc. is an independent petroleum refiners and suppliers of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants and other petroleum products in the United States. The Company sells its products throughout the Northeast, Midwest, Gulf Coast and West Coast of the United States, as well as in other regions of the United States, Canada and Mexico and are able to ship products to other international destinations. The Company operates through two business segments: Refining and Logistics. Its Refining segment includes the operations of its six refineries, which produces unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants and other petroleum products in the United States. The Companyâs Logistics segment includes PBF Logistics LP (PBFX), a partnership, formed to own or lease, operate, develop and acquire crude oil and refined products terminals, pipelines, storage facilities and similar logistics assets.