Reports Q4 revenue $10.85B, consensus $9.62B. Tom Nimbley, PBF Energy’s chairman and CEO, said, "2022 was a transformative year for PBF. The resurgence of demand for our products and our reliable operations allowed PBF to end 2022 in the strongest financial position in our ten-year history as a public company. During 2022, PBF eliminated over $2.3 billion in debt, effectively finishing the year with zero net debt. Our operations provided the financial resources to continually invest in our base business, expand into the renewable fuels space and increase shareholders returns." Mr. Nimbley continued, "The effort to strengthen our financial position is ongoing. In 2023, we further reduced leverage by redeeming $525 million of debt."
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