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PBF Energy Provides Third Quarter 2015 Interim Update

  • Third quarter 2015 net income expected to be in the $135 – $155 million range, excluding LCM
  • Total throughput of 470,000 barrels per day is in-line with guidance

PARSIPPANY, N.J.–(BUSINESS WIRE)–PBF Energy Inc. (NYSE:PBF) (“PBF Energy”) announced today that the company expects to report net income in the range of $135 – $155 million for the third quarter of 2015, excluding any potential lower of cost or market inventory adjustment (“LCM”) for the three month period ended September 30, 2015, as all the information required to complete our LCM analyses for the period is not yet available. PBF Energy’s financial results reflect the consolidation of the financial results of PBF Logistics LP (NYSE:PBFX), a master limited partnership of which PBF indirectly owns the general partner and approximately 53.7% of the limited partner interests.

PBF’s third quarter 2015 results were positively impacted by strong overall product demand and high average cracks in both East Coast and Mid-Continent regions. PBF’s refineries had a combined total throughput of approximately 470,000 barrels per day (“bpd”). Throughput for the Mid-Continent and East Coast systems during the third quarter totaled approximately 173,000 bpd and 297,000 bpd, respectively.

PBF is finalizing the third quarter results and expects to report financial results related to the third quarter of 2015 on or about October 29, 2015.