PBFX - Earnings call transcript Q2 2022

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Operator

Good day, everyone, and welcome to the PBF Logistics Second Quarter 2022 Earnings Conference Call and Webcast. At this time, all participants have been placed in a listen-only mode and the floor will be open for your questions following management's prepared remarks. [Operator Instructions] Please note that 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

Doug. you, Thank welcome and call. Good to morning, today's me several other are Lucey senior Matt and Young Erik and members team. With management today of partnership's the

XX-Q on like they you'd to our release If of are website. our or available earnings filings

predictions that future statements under by securities Before factors forward-looking management's press the expectations, the to forward-looking we've we in safe results this release laws. many press including covered of In and to be our statements attention described the expectations actual our are intended outlines are call differ today's cause the harbor federal summary, in on that begin, it to filings from those state contained SEC. statements to your or with like release. provisions I'd could There or the direct the partnerships disclaimer in conference the

be press describing our in the noted results. release, partnership's while As certain we'll non-GAAP measures using

tables to call today's Matt of turn GAAP the supplemental over appropriate non-GAAP measures release. now press the the For Lucey. reconciliations to I'll please provided to figure, refer in

Matthew Lucey

thank Good and for half everyone, XXXX. first for and second call. you operated Colin. Thanks, today's the joining us quarter of PBF Logistics morning, on the

the performance workforce. Our be consistent our reliability continues of and driven financial assets by our to safety-oriented

debt. approximately and exceed net reducing We this strong distribution in range revenue or on million $XXX are to generation revenues the provide pace year $XXX $XXX to generate ability continue and to partnership's million. Revenues consistent are of the XXXX million EBITDA full partnership's $XXX meet coverage million. our guidance cash to to of The approximately expected

Today, of a per will remain $X.XX sheet. the also partnership announced focused distribution We our on unit. balance

a I'll outstanding it and filings website an press Energy turn are acquire on separate LP. PBF sec.gov. is press and available release common There today, agreement to has the all this that, into which details out additional This With and Erik. to release PBF of additional provides Logistics morning, our on of - use the it announced Lastly, transaction. over additional entered regulatory

Erik Young

quarter the compensation attributable which terminals. associated EBITDA to Matt. you, environmental $X.X partners East unit-based with noncash remediation was We $XX.X reported second the Adjusted Thank costs of net partnership million $XX.X and million, includes million. income roughly limited Coast

was higher Additionally, million in net quarter revenue will onetime storage income This certain to related $X.X East due to future incremental this periods. operations. reoccur not revenue Coast

During the $X.X $X.X spent we second quarter, approximately in approximately for total including maintenance. million CapEx, million

year expect quarter. million the million be just expenditures of XXXX the including regulatory million For an additional during debt currently $XX spend. $X the for second maintenance capital in We and $XX repaying liquidity we after under to full $XX ended in million $XXX million, roughly with quarter

revolver. EBITDA Our availability million our times and opening adjusted liquidity now remarks, of we'll balance X.X of approximately $XXX under consists debt $XX annualized we've the of Operator, questions. was to call and for a million cash Net our open concluded

Operator

At for this will back questions. turn Lucey call no to Matt I there closing the time, are remarks.

Matthew Lucey

Thanks future. time the to to much. today so everyone's forward appreciate look you attention and and talking I in

Operator

your Ladies conclude and you does Thank gentlemen, this for teleconference. today's participation.

your disconnect have and at lines may You this a wonderful day. time,

PBF Logistics (PBFX) 28 Jul 222022 Q2 Earnings call transcript