PBF Energy Inc. (NYSE:PBF) Q4 2023 Earnings Conference Call February 15, 2024 8:30 AM ET
Company Participants
Colin Murray - Vice President, Investor Relations
Matthew C. Lucey - President and Chief Executive Officer
Karen B. Davis - Chief Financial Officer
Paul Davis - Senior Vice President, Supply, Trading and Optimization
Jim Fedena - Senior Vice President, Logistics, Renewable Fuels, and Strategic Assets
Thomas L. O’Connor - Senior Vice President, Commodity Risk and Strategy
Conference Call Participants
Roger Read - Wells Fargo
John Royall - JP Morgan
Doug Leggate - Bank of America
Ryan Todd - Piper Sandler
Manav Gupta - UBS
Neil Mehta - Goldman Sachs
Paul Cheng - Scotiabank
Jason Gabelman - TD Cowen
Operator
Good day, everyone, and welcome to the PBF Energy Fourth Quarter and Full Year 2023 Earnings Conference Call and Webcast. At this time, all participants are placed in a listen-only mode, and the floor will be open for your question following management's prepared remarks. [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, Kat. Good morning, and welcome to today's call. With me today are Matt Lucey, our President and CEO; Karen Davis, our CFO and several other members of our management team. Copies of today's earnings release and our 10-K filing, including supplemental information, are available on our website.
Before getting started, I'd like to direct your attention to the Safe Harbor statements 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 describe 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 describe the special items included in our quarterly results. The cumulative impact of the special items increased fourth quarter results by an after tax amount of approximately $700,000 or $0.01 per share, primarily relates to a change in the fair value of contingent consideration associated with the Martinez acquisition and a benefit related to a change in the tax receivable agreement liability, offset by a decrease to our gain on the formation of SBR and our share of the SBR lower cost of market inventory adjustment.