PBF Energy Inc. Q1 Profit Decreases, but beats estimates

(RTTNews) - PBF Energy Inc. (PBF) revealed earnings for first quarter that decreased from last year but beat the Street estimates.

The company's earnings totaled $106.6 million, or $0.86 per share. This compares with $382.1 million, or $2.86 per share, in last year's first quarter.

Excluding items, PBF Energy Inc. reported adjusted earnings of $106.4 million or $0.85 per share for the period.

Analysts on average had expected the company to earn $0.66 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 7.0% to $8.65 billion from $9.30 billion last year.

PBF Energy Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $106.6 Mln. vs. $382.1 Mln. last year. -EPS (Q1): $0.86 vs. $2.86 last year. -Revenue (Q1): $8.65 Bln vs. $9.30 Bln last year.