PBF Energy Inc. (NYSE:PBF) Q1 2024 Earnings Conference Call May 2, 2024 8:30 AM ET
Company Participants
Colin Murray - Investor Relations
Matt Lucey - President and Chief Executive Officer
Karen Davis - Chief Financial Officer
Mike Bukowski - Head, Refining
Paul Davis - Senior Vice President, Supply, Trading and Optimization
Thomas O’Connor - Senior Vice President, Commodity Risk and Strategy
Conference Call Participants
Roger Read - Wells Fargo
Ryan Todd - Piper Sandler
Manav Gupta - UBS
Matthew Blair - TPH
Paul Cheng - Scotiabank
Joe Laetsch - Morgan Stanley
Jason Gabelman - Cowen
Operator
Good day, everyone and welcome to the PBF Energy First Quarter 2024 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, Abby. 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-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 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 described the non-cash special items included in our quarterly results. The cumulative impact of these items increased fourth quarter results by an after-tax amount of approximately $900,000 or $0.01 per share, primarily related to a change in the fair value of contingent consideration associated with the Martinez acquisition and our share of St. Bernard Renewables LLC lower cost of market inventory adjustment, which were partially offset by an adjustment to the gain on the formation of SBR.
Also included in today’s press release is further guidance information related to our expectations for the second quarter throughput. 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.