PBF Logistics Declares Quarterly Distribution of $0.30 per Unit and Announces Second Quarter 2022 Earnings Results

Provided By PR Newswire

Last update: Jul 28, 2022

PARSIPPANY, N.J., July 28, 2022 /PRNewswire/ -- PBF Logistics LP (NYSE: PBFX, the "Partnership") today announced second quarter 2022 net income attributable to the limited partners of $39.2 million, or $0.62 per common unit. During the quarter, the Partnership generated cash from operations of $44.2 million, EBITDA attributable to PBFX of $58.1 million, Adjusted EBITDA of $57.5 million and distributable cash flow of $49.6 million. Included in reported results for the second quarter are $2.9 million, or $0.05 per common unit, of non-cash unit-based compensation expense and continued environmental remediation costs associated with the East Coast Terminals. Also included in second quarter results is approximately $3.5 million of one-time, incremental revenue related to certain East Coast storage operations.