Mizuho Securities Reiterates Buy Rating on PBF Energy (PBF) Following 1Q
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PBF Logistics Declares Quarterly Distribution of $0.30 per Unit and Announces First Quarter 2020 Earnings Results
May 15, 2020 6:30 AM EDTPARSIPPANY, N.J., May 15, 2020 /PRNewswire/ --Â PBF Logistics LP (NYSE:PBFX, the "Partnership") today announced first quarter 2020 net income attributable to the limited partners of $34.8 million, or $0.56 per common unit. During the quarter, the Partnership generated cash from operations of $18.6 million, EBITDA attributable to PBFX of $56.3 million, Adjusted EBITDA of $57.9 million and distributable cash flow of $40.8 million. Included in reported results for the first quarter are $1.6 million, or $0.03 per common unit, of expenses related to pending and non-consummated acquisitions, non-cash unit-based compensation and environmental remediation costs associated with the East Coast Terminals.
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PBF Energy Reports First Quarter 2020 Results
May 15, 2020 6:30 AM EDTPARSIPPANY, N.J., May 15, 2020 /PRNewswire/ -- PBF Energy Inc. (NYSE: PBF) today reported first quarter 2020 loss from operations of $1,366.8 million as compared to income from operations of $364.6 million for the first quarter of 2019. Excluding special items, first quarter 2020 loss from operations was $134.0 million as compared to loss from operations of $141.4 million for the first quarter of 2019. PBF Energy's financial results reflect the consolidation of PBF Logistics LP (NYSE: PBFX), a master limited partnership of which PBF indirectly owns the general partner and approximately 48% of the limited partner interests as of quarter-end.
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