PBF Energy, Inc. (NYSE:PBF) Q1 2023 Earnings Conference Call May 5, 2023 8:30 AM ET
Company Participants
Colin Murray - Senior Director, IR
Thomas O'Connor - SVP, Commodity Risk & Strategy
Matthew Lucey - President
Karen Davis - SVP & CFO
James Fedena - SVP, Logistics, Renewable Fuels & Strategic Assets
Timothy Davis - SVP, Supply, Trading & Optimization
Thomas Nimbley - CEO & Chairman
Conference Call Participants
Kalein Akamine - Bank of America Merrill Lynch
Manav Gupta - UBS
Ryan Todd - Piper Sandler & Co.
John Royall - JPMorgan Chase & Co.
Jason Gabelman - TD Cowen
Matthew Blair - Tudor, Pickering, Holt & Co.
Neil Mehta - Goldman Sachs Group
Paul Cheng - Scotiabank
Operator
Good day, everyone, and welcome to the PBF Energy First Quarter 2023 Earnings Conference Call Webcast. [Operator Instructions]. Please note this conference is being recorded. It is now my pleasure to turn the floor over to Colin Murray of Investor Relations. Sir, you may begin.
Colin Murray
Thank you, Rob. Good morning, and welcome to today's call. With me today are Tom Nimbley, our CEO; Matt Lucey, our President; Karen Davis, our CFO; and several other members of our management team. Copies of today's earnings release and our 10-Q filing, including supplemental information, are available on our website.
Before getting started, I'd like to direct your attention to the safe harbor statement contained in today's press release. Statements in our press release and those made on this call that express the company's or management's expectations or predictions of the future are forward-looking statements intended to be covered by the safe harbor provisions under federal securities laws. There are many factors that could cause actual results to differ from our expectations, including those we described in our filings with the SEC. Consistent with our prior periods, we will discuss our results today, excluding special items.
In today's press release, we described the non-cash special items included in our quarterly results. The cumulative impact of the special items increased first quarter net income by an after-tax amount of $13 million or approximately $0.10 per share related primarily to net changes in the fair value of contingent consideration.
Also included in today's press release is guidance information related to our second quarter operations. For any questions on these items or follow-up questions, please contact Investor Relations after today's call. For reconciliations of any non-GAAP measures mentioned on today's call, please refer to the supplemental tables provided in today's press release.