Company Quick10K Filing
PBF Logistics
Closing Price ($) Shares Out (MM) Market Cap ($MM)
$0.00 60 $1,271
10-K 2020-02-20 Annual: 2019-12-31
10-Q 2019-10-31 Quarter: 2019-09-30
10-Q 2019-08-01 Quarter: 2019-06-30
10-Q 2019-05-01 Quarter: 2019-03-31
10-K 2019-02-21 Annual: 2018-12-31
10-Q 2018-10-31 Quarter: 2018-09-30
10-Q 2018-08-02 Quarter: 2018-06-30
10-Q 2018-05-03 Quarter: 2018-03-31
10-K 2018-02-23 Annual: 2017-12-31
10-Q 2017-11-02 Quarter: 2017-09-30
10-Q 2017-08-03 Quarter: 2017-06-30
10-Q 2017-05-04 Quarter: 2017-03-31
10-K 2017-02-24 Annual: 2016-12-31
10-Q 2016-11-04 Quarter: 2016-09-30
10-Q 2016-08-04 Quarter: 2016-06-30
10-Q 2016-05-05 Quarter: 2016-03-31
10-K 2016-02-22 Annual: 2015-12-31
10-Q 2015-11-05 Quarter: 2015-09-30
10-Q 2015-08-06 Quarter: 2015-06-30
10-Q 2015-05-01 Quarter: 2015-03-31
10-K 2015-02-26 Annual: 2014-12-31
10-Q 2014-11-13 Quarter: 2014-09-30
10-Q 2014-08-13 Quarter: 2014-06-30
10-Q 2014-06-18 Quarter: 2014-03-31
8-K 2020-02-13 Earnings, Exhibits
8-K 2020-01-06 Regulation FD, Exhibits
8-K 2019-10-31 Earnings, Exhibits
8-K 2019-08-01 Earnings, Exhibits
8-K 2019-05-31 M&A, Exhibits
8-K 2019-05-14 Regulation FD, Exhibits
8-K 2019-05-01 Earnings, Exhibits
8-K 2019-04-24 Enter Agreement, Earnings, Regulation FD, Exhibits
8-K 2019-04-18 Officers, Exhibits
8-K 2019-02-28 Sale of Shares, Other Events, Exhibits
8-K 2019-02-13 Enter Agreement, Earnings, Sale of Shares, Amend Bylaw, Regulation FD, Other Events, Exhibits
8-K 2019-01-08 Regulation FD, Exhibits
8-K 2018-11-07 Other Events, Exhibits
8-K 2018-11-07 Other Events, Exhibits
8-K 2018-11-07 Other Events, Exhibits
8-K 2018-10-31 Earnings, Exhibits
8-K 2018-10-01 M&A, Regulation FD, Exhibits
8-K 2018-09-05 Regulation FD, Exhibits
8-K 2018-08-02 Earnings, Exhibits
8-K 2018-07-30 Enter Agreement, Off-BS Arrangement, Sale of Shares, Other Events, Exhibits
8-K 2018-07-16 Enter Agreement, Regulation FD, Exhibits
8-K 2018-07-16 Enter Agreement, Exhibits
8-K 2018-06-19 Regulation FD, Exhibits
8-K 2018-05-23 Regulation FD, Exhibits
8-K 2018-05-03
8-K 2018-04-16 Enter Agreement, M&A, Regulation FD, Exhibits
8-K 2018-02-15 Earnings, Exhibits
8-K 2018-01-08 Regulation FD, Exhibits
8-K 2018-01-03 Regulation FD, Exhibits

PBF Logistics Financials

PBFX Metrics, Comps, Filings

Annual | Quarterly

Business

We are a fee-based, growth-oriented, Delaware master limited partnership formed in February 2013 by subsidiaries of PBF Energy Inc. and its indirect subsidiary, PBF Logistics GP LLC ("PBF GP"), our general partner, to own or lease, operate, develop and acquire crude oil and refined petroleum products terminals, pipelines, storage facilities and similar logistics assets. PBF GP is our general partner and is wholly-owned by PBF Energy Company LLC ("PBF LLC"). PBF Energy Inc. is the sole managing member of PBF LLC and as of December 31, 2018 owned 99.0% of the total economic interest in PBF LLC. We refer you to "Organizational Structure" below for an illustration of our relationship with PBF Energy Inc. Unless the context otherwise requires, references in this report to "PBF Energy" refer collectively to PBF Energy Inc. and its subsidiaries, other than PBFX and its subsidiaries, and our general partner. PBFX's common units trade on the NYSE under the symbol "PBFX," and as of December 31, 2018, PBF LLC held a 44.0% limited partner interest in us, a non-economic general partner interest and owned all of the IDRs, with the remaining 56.0% limited partner interest held by public unitholders. On February 13, 2019, we entered into an Equity Restructuring Agreement (the "IDR Restructuring Agreement") with PBF LLC and PBF GP, pursuant to which the IDRs held by PBF LLC will be canceled and converted into newly issued PBFX common units.

Our business includes the assets, liabilities and results of operations of certain crude oil, refined products, natural gas and intermediates transportation, terminaling and storage assets, which include assets previously operated and owned by subsidiaries of PBF Holding Company LLC ("PBF Holding") and PBF Holding's previously held subsidiaries.

On April 16, 2018, our wholly-owned subsidiary, PBF Logistics Products Terminals LLC ("PLPT"), completed the purchase of two refined product terminals located in Knoxville, Tennessee, which include product tanks with a total shell capacity of approximately 0.5 million barrels, pipeline connections to the Colonial Pipeline Company and Plantation Pipe Line Company pipeline systems and two truck loading facilities with nine loading bays (the "Knoxville Terminals") from Cummins Terminals, Inc. ("Cummins") for total cash consideration of $58.0


Valuation ($MM)

Market Cap, Enterprise Value

Balance Sheet ($MM)

Assets, Stockholders' Equity

Income Statement ($MM Annual)

Revenue, Gross Profit, Net Income

Cash Flow ($MM Annual)

Operating, Investing, Financing

Comps ($'000 TTM) Market Cap Gross Margin EV/EBITDA Ret on Assets Assets Liabilities Revenue G Profit Net Income EBITDA EV
Dominion Energy Midstream Partners (DM) 2,234,625 0% 14.0 2% 10,266,300 3,134,800 763,200 0 205,000 351,800 4,920,625
Archrock (AROC) 1,445,376 19% 11.7 2% 3,100,804 2,043,786 952,657 183,616 64,254 279,455 3,267,425
PBF Logistics (PBFX) 1,324,166 0% 19.8 8% 1,010,328 903,193 328,017 0 78,398 105,052 2,079,588
Clean Energy Fuels (CLNE) 431,959 0% 41.0 -4% 685,846 183,379 224,450 0 -25,964 11,561 473,836
Jensyn Acquisition (JSYN) 50,641 16% 91.7 -6% 18,067 14,310 18,031 2,914 -1,125 578 53,059
Blueknight Energy Partners (BKEP) 0% -51.5 -12% 313,975 331,876 403,088 0 -36,610 -4,966 255,815
Altus Midstream (ALTM) 40% 12.2 -0% 2,661,835 427,851 120,300 48,528 -7,958 20,510 250,006
Transmontaigne Partners (TLP) 0 48% 4.9 4% 1,051,450 724,722 249,341 119,527 42,170 130,958 635,799
TC Energy Corporation (TRP)
American Midstream Partners (AMID) 13% 2.9 -0% 1,715,737 1,278,288 772,944 97,075 -6,980 156,780 450,724
Buckeye Partners (BPL) 31% 3.9 9% 8,510,110 4,419,774 3,706,872 1,150,567 767,632 965,690 3,749,401
MPLX (MPLX) 0% 6.6 5% 41,281,000 22,421,000 7,270,000 0 2,125,000 2,884,000 19,149,000
Andeavor Logistics (ANDX) 46% 5.6 6% 10,550,000 6,016,000 2,496,000 1,139,000 658,000 949,000 5,275,000
Antero Midstream Partners (AM) 0% 3.7 10% 3,546,417 1,854,909 1,028,522 0 337,335 444,656 1,632,147
Enlink Midstream Partners (ENLK) 13% 13.0 -1% 9,416,800 6,955,500 882,600 -116,100 347,500 4,511,800
DCP Midstream (DCP) 15% 11.7 1% 14,034,000 7,219,000 8,303,000 1,228,000 114,000 494,000 5,799,000
CNX Midstream Partners (CNXM) 0% 2.6 11% 1,181,266 742,871 224,296 0 125,815 148,440 392,190
Summit Midstream Partners (SMLP) 60% 10.4 -0% 2,901,456 1,827,257 464,952 280,479 -4,096 134,010 1,387,936
Plains All American Pipeline (PAA) 10% 2.2 11% 28,377,000 15,266,000 33,300,000 3,296,000 2,989,000 3,823,000 8,505,000
Delek Logistics Partners (DKL) 19% -0.0 12% 767,807 910,297 604,679 114,900 94,808 150,005 -6,353

Balance Sheet ($'000)2014-12-312015-12-312016-12-312017-12-312018-12-31
Cash14,16518,67864,22119,66419,908
Accounts Receivable4,2941,4237,511
Inventory
PP&E130,7790600,071673,823862,117
Assets393,951546,924748,130737,550956,353
Accounts Payable
Long-Term Debt510,000608,700578,864554,700673,324
Liabilities514,244732,599601,790580,455763,163
Stockholders' Equity-120,293-185,675-33,542-14,80823,718
Income Statement ($'000)2014-12-312015-12-312016-12-312017-12-312018-12-31
Revenue03,38311,8870283,440
Cost of Revenue
Gross Profit
R&D
SG&A12848116,96216,28421,371
Tax
Net Income13,29275,12281,622115,002103,280
Cash Flow ($'000)2014-12-312015-12-312016-12-312017-12-312018-12-31
Cash Operating7,56876,28499,618142,445133,141
Cash Investing-282,144-12379,564-49,515-175,696
Cash Financing288,741-71,6480-137,48742,799