PBF Energy Q1 Revenue $7.9B, Exceeds Expectations
Reports Q1 revenue $7.9B, consensus $7.51B. Matt Lucey, PBF's president and CEO, said, "Following a year of extensive work and exhaustive efforts by all involved, our Martinez refinery is returning to full operations at a time when the markets are calling for products from all available sources. The team at Martinez conducted repairs as expeditiously as possible and, more importantly, safely." Lucey continued, "The rest of our refineries operated well through the first quarter, battling severe cold at times, and we also completed a significant turnaround at our Torrance refinery. We continue to improve our overall cost structure through the implementation of our Refining Business Improvement initiative and remain dedicated to the continuous improvement of our operations, efficiency, and reliability."
