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Sitio Royalties Announces Revised Date for Second Quarter 2025 Earnings Release

Sitio Royalties Announces Revised Date for Second Quarter 2025 Earnings Release

Globe and Mail21-07-2025
Sitio Royalties Corp. (NYSE: STR) ('Sitio') today announced a change to the scheduled date for the release of its operating and financial results for the second quarter 2025. The earnings release will now be issued on Monday, August 4, 2025, after the close of trading on the New York Stock Exchange. Due to the pending merger with Viper Energy, Inc. (NASDAQ:VNOM), Sitio will not host a conference call.
About Sitio Royalties Corp.
Sitio is a shareholder returns-driven company focused on large-scale consolidation of high-quality oil & gas mineral and royalty interests across premium basins, with a diversified set of top-tier operators. With a clear objective of generating cash flow from operations that can be returned to shareholders and reinvested, Sitio has accumulated over 270,000 NRAs through the consummation of over 200 acquisitions to date. More information about Sitio is available at www.sitio.com.
Forward Looking Statements
This news release contains statements that may constitute 'forward-looking statements' for purposes of federal securities laws. Forward-looking statements include, but are not limited to, statements that refer to projections, forecasts, or other characterizations of future events or circumstances, including any underlying assumptions. The words 'anticipate,' 'believe,' 'continue,' 'could,' 'estimate,' 'expect,' 'intends,' 'may,' 'might,' 'plan,' 'seeks,' 'possible,' 'potential,' 'predict,' 'project,' 'prospects,' 'guidance,' 'outlook,' 'should,' 'would,' 'will,' and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. While forward-looking statements are based on assumptions and analyses made by us that we believe to be reasonable under the circumstances, whether actual results and developments will meet our expectations and predictions depend on a number of risks and uncertainties that could cause our actual results, performance, and financial condition to differ materially from our expectations and predictions. See 'Risk Factors' in Sitio's publicly filed documents with the SEC for a discussion of risk factors that affect Sitio's business. Any forward-looking statement made in this news release speaks only as of the date on which it is made. Factors or events that could cause actual results to differ may emerge from time to time, and it is not possible to predict all of them. Sitio undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future development, or otherwise, except as may be required by law.
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Key Points Non-GAAP earnings per share of $(1.03) in Q2 2025 topped analyst estimates by $0.23 despite a wider loss from the prior year. Revenue of $7.47 billion exceeded expectations but declined 14.4% from $8.74 billion in GAAP revenue in Q2 2024. Martinez refinery continued only partial operations due to fire recovery, skewing performance while insurance recoveries buffered headline results. These 10 stocks could mint the next wave of millionaires › PBF Energy (NYSE:PBF), an independent petroleum refiner and supplier of transportation fuels, released its second quarter 2025 earnings on July 31, 2025. The report highlighted a mixed quarter: non-GAAP earnings per share were $(1.03), better than the analyst consensus non-GAAP loss of $(1.26), and revenue was $7.48 billion, beating estimates by more than $500 million. Still, both earnings and revenue were down from the prior year, with revenue declined 14.4% year over year. The quarter was shaped by the continued partial shutdown of the Martinez refinery and operational headwinds, with insurance proceeds from the Martinez incident softening the impact of operating losses. Overall, results beat analyst estimates, but the company's core profitability remained negative after adjusting for insurance and other special items. Metric Q2 2025 Q2 2025 Estimate Q2 2024 Y/Y Change EPS (Non-GAAP) $(1.03) $(1.26) $(0.54) (90.7 % decrease) Revenue (GAAP) $7.47 billion $6.97 billion $8.74 billion (14.4 %) Income from Operations (GAAP) $43.0 million $(74.6) million NM EBITDA (Non-GAAP) $51.8 million $86.2 million (39.9%) Gross Refining Margin per Barrel (Non-GAAP) $8.38 $8.12 3.2% Source: Analyst estimates provided by FactSet. Management expectations based on management's guidance, as provided in Q1 2025 earnings report. Company Overview and Key Priorities PBF Energy (NYSE:PBF) operates six petroleum refineries across the United States, with a combined processing capacity near 1 million barrels per day as of December 31, 2024. Its operations produce gasoline, diesel, jet fuel, and other refined products. A central competitive factor is the Nelson Complexity Index—a measure of a refinery's ability to upgrade lower-cost crude into high-value products. PBF's average complexity is high, providing flexibility and resilience through changing market cycles. The company's recent focus has centered on operational efficiency, cost containment, maintaining safe and reliable operations, and restoring damaged assets. Key priorities include managing the cost of regulatory compliance, improving operating expenses, and deploying the Refining Business Improvement (RBI) initiative that aims to identify and capture over $200 million in annualized run-rate savings. Effective management of feedstock supply and logistics is also critical for sustainability. Quarter in Review: Performance Drivers and Challenges This quarter was defined by ongoing fallout from the Martinez refinery fire that occurred earlier in 2025. Production averaged 845,800 barrels per day, down from 926,700 barrels per day in the same quarter last year. The Martinez facility operated at limited capacity in the 85,000–105,000 barrels per day range as repairs advanced, restricting West Coast system throughput. West Coast throughput dropped sharply year over year, landing at 203,500 barrels per day compared to 296,700 barrels per day in Q2 2024, while gross margin per barrel in that region swung from a positive $0.34 in Q2 2024 to a negative $(9.54) (GAAP basis) due to both the outage and higher compliance costs. System-wide, the gross refining margin per barrel was $8.38, but GAAP gross margin was negative, reflecting the heavy effect of Martinez-related charges. Operational expense per barrel increased to $7.96 from $6.94 in Q2 2024, with West Coast expenses especially elevated at $15.73 per barrel. Despite these pressures, an insurance recovery payment of $250 million helped offset Martinez losses in the reported results. Management expects full Martinez operations to be restored by year-end 2025, depending on regulatory and supply chain timelines. Market dynamics continued to challenge overall performance. The Brent crude oil price averaged $67.70 per barrel (down from $85.02 in Q2 2024), but narrow light-heavy crude price differentials eroded potential cost advantages for complex refineries like PBF's. The proportion of heavy crude processed fell to 25%, limiting feedstock flexibility. 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They just revealed what they believe are the 10 best stocks for investors to buy right now, available when you join Stock Advisor. *Stock Advisor returns as of July 29, 2025

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