PBF Energy Inc. (NYSE:PBF) Q3 2023 Earnings Conference Call November 2, 2023 8:30 AM ET
Company Participants
Colin Murray - IR
Matthew Lucey - President and CEO
Karen Davis - CFO
Thomas Nimbley - Executive Chairman
Conference Call Participants
Roger Read - Wells Fargo
Doug Leggate - Bank of America
Ryan Todd - Piper Sandler
Manav Gupta - UBS
Matthew Blair - Tudor, Pickering, Holt
Paul Cheng - Scotiabank
Joe Laetsch - Morgan Stanley
Jason Gabelman - Cowen
Operator
Good day, everyone, and welcome to the PBF Energy Third Quarter 2023 Earnings Conference Call and 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, Devlin. Good morning and welcome to today's call. With me today are Matt Lucey, our President and CEO; Karen Davis, our CFO; Tom Nimbley, our Executive Chairman; 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'll discuss our results today, excluding special items. In today's press release, we describe the non-cash special items included in our quarterly results. The cumulative impact of these special items decreased third quarter net income by an after-tax amount of $65 million or $0.50 a share, primarily related to a change in the fair value of the contingent consideration associated with the Martinez acquisition, loss on extinguishment of debt, and exit costs associated with the early termination of the Inventory Intermediation Agreement.
Also included in today's press release is further guidance information related to our expectations for the remainder of 2023 operations. For any questions on these items or follow-up questions, please contact Investor Relations after the 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.