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![PBF Energy Inc. [PBF] reports annual net loss of $2.2 billion](/_next/image?url=https%3A%2F%2F10kinfo-appdata.s3.us-west-2.amazonaws.com%2Fedgar0105%2FCompanyLogos%2FUS%2FPBF.png&w=1200&q=75)
PBF Energy Inc. [PBF] has reported a net loss of $2.2 billion for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $38.3 billion
Based in PARSIPPANY, New Jersey, PBF Energy Inc. operates in the MANUFACTURING sector.
In the 12 months ended December 31, 2023, PBF Energy Inc. reported total revenues of $38.3 billion, compared to $46.8 billion in the same period of the previous year and $27.3 billion in the year before that.
The cost of products and other operating expenses for the year 2023 amounted to $35.9 billion, with a breakdown of $32.7 billion for cost of products and $2.7 billion for operating expenses. This shows a decrease from $42.2 billion in 2022 and $26.4 billion in 2021.
Income from operations for the current year stood at $2.95 billion, down from $4.15 billion in the previous year and a significant increase from $597.2 million in 2021.
Moving to other income and expenses, a net interest expense of $63.8 million was incurred in 2023, compared to $246 million in 2022 and $317.5 million in 2021. The company also reported income before income taxes of $2.89 billion for the year, up from $3.56 billion in 2022 and $327.6 million in 2021.
After accounting for income tax expense, the net income attributable to PBF Energy Inc. stockholders for 2023 was $2.14 billion, a decrease from $2.88 billion in 2022 and a significant increase from $231 million in 2021. The diluted earnings per share for the year 2023 were $16.52, compared to $22.84 in 2022 and $1.90 in 2021.
The weighted-average shares of Class A common stock outstanding for the year 2023 were 124.95 million on a basic basis and 130.51 million on a diluted basis. These figures show an increase from 122.60 million and 126.86 million, respectively, in 2022, and 120.24 million and 122.64 million, respectively, in 2021.
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