We just lately compiled an inventory of the Weak Earnings, Outlook Drag Shares of These 10 Firms on Thursday. On this article, we’re going to check out the place PBF Power Inc. (NYSE:PBF) stands towards the opposite shares.
The inventory market completed firmer on Thursday, as buyers cheered contemporary inflation knowledge and tariff updates that helped alleviate considerations about inflationary pressures and international commerce tensions.
The Dow Jones rose by 0.77 p.c, the S&P 500 elevated 1.04 p.c, whereas the Nasdaq jumped 1.50 p.c.
Regardless of total market features, ten corporations managed to register declines, largely as a consequence of disappointing earnings efficiency, a weaker outlook, and downgraded scores.
To give you Thursday’s prime losers, we thought of solely the shares with a minimum of $2 billion in market capitalization and $5 million in day by day buying and selling quantity.
Aerial view of an oil refinery, with smoke billowing from its chimneys.
PBF Power Inc. (NYSE:PBF) retreated for the second day on Thursday, shedding 12.78 p.c to shut at $23.21 apiece as investor sentiment was dampened by the corporate’s third consecutive quarter of losses.
On Thursday, PBF Power Inc. (NYSE:PBF) mentioned it swung to a web lack of $533.8 million, attributable to shareholders, within the full 12 months 2024, reversing a web revenue of $2.14 billion in 2023.
In the meantime, attributable web loss within the fourth quarter alone expanded by almost 500 p.c to $289.3 million from $48.4 million year-on-year.
Revenues for the quarter additionally dropped 19.6 p.c to $7.35 billion from $9.14 billion year-on-year, whereas revenues for the complete 12 months declined 13.6 p.c to $33.11 billion from $38.32 million in 2023.
“World refining markets stay structurally tight, and capability rationalization and demand progress are anticipated to exceed new refinery additions. On this surroundings, PBF Power Inc. (NYSE:PBF)’s complicated, predominantly coastal refining system, is well-positioned for the subsequent cycle,” mentioned PBF Power Inc. (NYSE:PBF) President and CEO Matthew Lucey.
General PBF ranks sixth on our record of Thursday’s prime losers. Whereas we acknowledge the potential of PBF as an funding, our conviction lies within the perception that AI shares maintain larger promise for delivering greater returns and doing so inside a shorter timeframe. In case you are in search of an AI inventory that’s extra promising than PBF however that trades at lower than 5 occasions its earnings, try our report in regards to the cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap.
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