PBF Energy (NYSE:PBF) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
PBF Energy Earnings Cheat Sheet
Revenue: Was the same at $4.8 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: PBF Energy reported adjusted EPS income of $0.48 per share. By that measure, the company missed the mean analyst estimate of $1.16. It beat the average revenue estimate of $3.51 billion.
Quoting Management: Tom Nimbley, PBF Energy’s CEO, said, “PBF faced some challenges during the quarter, including the outage at Toledo, narrowing crude oil differentials and increasing costs of compliance with the Renewable Fuels Standard. Despite these headwinds, we continue to believe in our strategy of sourcing the lowest cost feedstocks for our refineries and positioning PBF to benefit from positive market conditions.”
Key Stats (on next page)…
Revenue decreased 3.08% from $4.95 billion in the previous quarter. EPS decreased 71.76% from $1.70 in the previous quarter.
Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $1.67 to a profit $1.89. For the current year, the average estimate has moved up from a profit of $5.09 to a profit of $5.69 over the last ninety days.
Stocks with improving earnings metrics are worthy of your extra attention. In fact, “E = Earnings Are Increasing Quarter-Over-Quarter” is a core component of our CHEAT SHEET investing framework for this very reason. Don’t waste another minute – click here and get our CHEAT SHEET stock picks now.
(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)