PBF Energy

Investor's Business Daily

PBF Energy (PBF), an oil refiner, said Q1 sales rose 1.5% to $4.79 bil, crushing estimates for $3.51 bil. It recorded a 48-cent-per-share profit, reversing a $1.26 loss a year ago, but below views of a $1.04 profit. PBF said the rising price of renewable ID numbers (RINs) hurt Q1 earnings and it will blend more ethanol into its gas in 2H '13 to offset the cost. Shares fell 5.8%.

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