PARSIPPANY, N.J. (AP) _ PBF Energy Inc. (PBF) on Thursday reported fourth-quarter net income of $53 million, after reporting a loss in the same period a year earlier.

The Parsippany, New Jersey-based company said it had profit of 44 cents per share. Earnings, adjusted for non-recurring costs, came to 60 cents per share.

The results beat Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of 50 cents per share.

The refiner posted revenue of $6.3 billion in the period, which also topped Street forecasts. Eight analysts surveyed by Zacks expected $5.89 billion.

For the year, the company reported profit of $319.4 million, or $2.64 per share. Revenue was reported as $24.51 billion.

PBF Energy shares have declined almost 8% since the beginning of the year. The stock has dropped 18% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PBF at https://www.zacks.com/ap/PBF

Automated Insights, source Associated Press News