PBF Logistics LP (PBFX) Q2 2022 Earnings Conference Call July 28, 2022 11:00 AM ET

Company Participants

Colin Murray - Head, IR

Matthew Lucey - EVP

Erik Young - SVP & CFO

Conference Call Participants

Operator

Good day, everyone, and welcome to the PBF Logistics Second Quarter 2022 Earnings Conference Call and Webcast. At this time, all participants have been placed in a listen-only mode and the floor will be open for your questions following management's prepared remarks. [Operator Instructions] Please note that 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, Doug. Good morning, and welcome to today's call. With me today are Matt Lucey and Erik Young and several other members of the partnership's senior management team. If you'd like to of our earnings release or 10-Q filings they are available on our website.

Before we begin, I'd like to direct your attention to the forward-looking statements disclaimer contained in today's press release. In summary, it outlines the statements in the press release and on this conference call that state the partnerships 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've described in our filings with the SEC. As noted in our press release, we'll be using certain non-GAAP measures while describing the partnership's results. For reconciliations of non-GAAP measures to the appropriate GAAP figure, please refer to the supplemental tables provided in today's press release.

I'll now turn the call over to Matt Lucey.

Matthew Lucey

Thanks, Colin. Good morning, everyone, and thank you for joining us on today's call. PBF Logistics operated the second quarter and for the first half of 2022. Our consistent financial performance continues to be driven by the reliability of our assets and our safety-oriented workforce.

We are on pace to meet or exceed the partnership's full year 2022 revenue guidance of approximately $320 million to $340 million. Revenues in this range are expected to generate EBITDA of approximately $200 million to $210 million.

The partnership's consistent revenues and cash generation provide strong distribution coverage and the ability to continue reducing our net debt. We will remain focused on our balance sheet. Today, the partnership also announced a distribution of $0.30 per unit.