PBF Energy (PBF) Q4 2019 Earnings Call Transcript

PBF Energy (PBF) Q4 2019 Earnings Call Transcript

A copy of today's earnings release, including supplemental information, is available on our website.. In summary, it outlines the statements contained in the press release and on this call, which express the company's or management's expectations or predictions of the future, are forward-looking statements intended to be covered by the safe harbor provisions under federal securities laws.. As noted in our press release, we will be using certain non-GAAP measures while describing PBF's operating performance and financial results.. Also included in our press release today are throughput guidance figures which now include the Martinez refinery as of its February 1 acquisition date.. Good morning, everyone, and thank you for joining our call today.. Overall, we are pleased with our fourth-quarter results, which reflect solid operational performance in all of our regions, following the extensive maintenance we strategically advanced into the first half of 2019.. Less complex refineries producing high-sulfur fuel made significant changes to their business model and got lighter.. With the losses to demand, the oil market will do what it always does, rebalance.. The magnitude of demand losses cannot be ignored or even accurately estimated at this point, but the oil market has continually demonstrated that it can