Reports Q4 revenue $9.14B, consensus $8.65B. PBF‘s president and CEO Matthew Lucey said, “In 2023, we completed the transformation of PBF Energy’s balance sheet. Our financial discipline has put PBF on the strongest financial footing in our history as a public company. Our operations delivered our second-best financial year.” Lucey continued, “In addition to enhancing equity value by further reducing debt by approximately $700 million, we demonstrated our commitment to shareholder returns by returning approximately $640 million through dividends and share buybacks in 2023. We are pleased to announce a $750 million increase to our buyback authorization, resulting in more than $1 billion in current capacity. We remain focused on delivering value to our shareholders.”
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Read More on PBF:
- PBF Energy Reports Fourth Quarter and Full Year 2023 Results, Declares Dividend of $0.25 per Share and Announces Increased Share Repurchase Authorization
- PBF Energy (PBF) Q4 Earnings Cheat Sheet
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