For the second quarter PBF Energy reported earnings of 35 cents a share, missing the Capital IQ Consensus Estimate of 65 cents a share by 30 cents. Revenue grew 13.2% from the year-ago quarter to $5.3 billion, above the $4.67 billion analysts expected.
Earnings fell 52% year-over-year due to narrower North American crude discounts of global crudes and higher feedstock prices.
TheStreet Ratings team rates PBF ENERGY INC as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:
"We rate PBF ENERGY INC (PBF) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its solid stock price performance, increase in net income and attractive valuation levels. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity and poor profit margins."