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Accessibility StatementSkip Navigation PARSIPPANY, N.J., Sept. 30, 2025 /PRNewswire/ -- PBF Energy Inc. (NYSE: PBF) today announced the closing of the sale of terminal assets previously agreed on April 30, 2025, and announced on May 1, 2025. PBF Energy, through a subsidiary of PBF Logistics LP, has sold two refined product terminal facilities located in Philadelphia, PA and Knoxville, TN for $175Â million in cash. The combined assets include 38 storage tanks with approximately 1.9Â million barrels of storag ...

Stocks Generating Improved Relative Strength: PBF Energy 9/16/2025A Relative Strength Rating upgrade for PBF Energy shows improving technical performance. Will it continue? 9/16/2025A Relative Strength Rating upgrade for PBF Energy shows improving... INVESTING RESOURCES Take a Trial Today BREAKING: Futures Rise After Many Hot Stocks Tumble One important metric to look for in a stock is an 80 or higher Relative Strength Rating. PBF Energy (PBF) stock just hit that mark, with a jump from 79 to 85 Tuesday. Â H ...

PARSIPPANY, N.J. , Sept. 22, 2025 /PRNewswire/ -- PBF Energy Inc. (NYSE:PBF) announced today that it will release its earnings results for the third quarter 2025 on Thursday, October 30, 2025. ...

Core Points - PBF Energy Inc. announced the promotion of Joseph Marino to Chief Financial Officer, effective October 1, 2025, as current CFO Karen B. Davis retires from her executive role and rejoins the Board of Directors [1][2] - CEO Matt Lucey expressed gratitude for Karen Davis's leadership and highlighted her role in strengthening the finance team, facilitating a smooth transition for Joe Marino [2] - Joseph Marino has been with PBF since 2011, previously serving as Treasurer and has held various finance and accounting roles, bringing significant experience to his new position [2] Company Overview - PBF Energy Inc. is one of the largest independent refiners in North America, operating oil refineries and related facilities across several states including California, Delaware, Louisiana, New Jersey, and Ohio [4][5] - The company's mission includes operating facilities safely and responsibly, providing a rewarding workplace for employees, positively influencing local communities, and delivering superior returns to investors [5] - PBF Energy is also a 50% partner in the St. Bernard Renewables joint venture, which focuses on producing next-generation sustainable fuels [5]

Group 1 - PBF Energy Inc. will participate in the 2025 Citi Natural Resources Conference from August 11-13, 2025 [1] - Presentation materials will be available on the Investor Relations section of the PBF Energy website [1] Group 2 - PBF Energy Inc. is one of the largest independent refiners in North America, operating oil refineries and related facilities in multiple states including California, Delaware, Louisiana, New Jersey, and Ohio [2] - The company's mission includes operating facilities safely and responsibly, providing a rewarding workplace, positively influencing communities, and delivering superior returns to investors [2] Group 3 - PBF Energy is a 50% partner in the St. Bernard Renewables joint venture, which focuses on producing next-generation sustainable fuels [3]

Core Viewpoint - PBF Energy has experienced a significant decline in share value, losing 45% over the past year due to operational challenges, including a major fire at its Martinez refinery and a downturn in the industry [1]. Company Performance - The company’s shares have underperformed, reflecting a 45% decrease in value over the last year [1]. - The fire at the Martinez refinery has been a critical factor contributing to the company's struggles [1]. Industry Context - The broader industry is facing challenges, which have impacted PBF Energy's performance [1].

Core Insights - PBF Energy Inc. reported a second-quarter 2025 adjusted loss of $1.03 per share, which was narrower than the Zacks Consensus Estimate of a loss of $1.19, but wider than the loss of 56 cents per share from the previous year [1][8] - Total quarterly revenues decreased to $7.48 billion from $8.74 billion in the prior-year quarter, yet exceeded the Zacks Consensus Estimate of $6.79 billion [1][8] - The better-than-expected results were attributed to reduced costs and expenses, although this was partially offset by lower throughput volumes [2] Segmental Performance - The Refining segment reported an operating loss of $400.4 million, compared to an operating income of $107.7 million a year ago, falling short of the estimated operating income of $205.8 million [3] - The Logistics segment generated a profit of $107.7 million, up from $96.1 million in the prior-year quarter, surpassing the estimate of $53.6 million [3] Throughput Analysis - Crude oil and feedstock throughput volumes totaled 839.1 thousand barrels per day (bpd), down from 921.3 thousand bpd a year ago, but above the estimate of 836.4 thousand bpd [4] - The East Coast, Mid-Continent, Gulf Coast, and West Coast regions accounted for 35.7%, 19.3%, 20.7%, and 24.3% of total throughput volume, respectively [4] Margins - The company-wide gross refining margin per barrel of throughput was $8.38, higher than the previous year's $8.12 and exceeding the estimate of $7.74 [5][8] - The gross refining margin per barrel for the East Coast was $7.37, significantly up from $2.52 a year ago, while the Gulf Coast margin decreased to $7.35 from $8.66 [6] Costs & Expenses - Total costs and expenses for the quarter were $7.43 billion, down from $8.8 billion in the prior-year period, and slightly above the estimate of $7.37 billion [7] - Cost of sales, including operating expenses and depreciation, amounted to $7.53 billion, lower than $8.73 billion a year ago [7] Capital Expenditure & Balance Sheet - PBF Energy spent $144.5 million on capital for refining operations and $8.2 million on logistics [9] - At the end of the second quarter, the company had cash and cash equivalents of $591 million and total debt of $2.4 billion, resulting in a total debt-to-capitalization ratio of 30.2% [9] Outlook - For the third quarter of 2025, PBF Energy anticipates throughput volumes of 320,000 to 340,000 bpd on the East Coast, 150,000 to 160,000 bpd in the Mid-Continent, 175,000 to 185,000 bpd in the Gulf Coast, and 220,000 to 230,000 bpd on the West Coast [10]

Core Viewpoint - PBF Energy reported a mixed performance in Q2 2025, with non-GAAP earnings per share of $(1.03), surpassing analyst expectations, but both earnings and revenue declined year-over-year, with revenue down 14.4% [1][2] Financial Performance - Non-GAAP EPS was $(1.03), better than the estimate of $(1.26) but a 90.7% decrease from $(0.54) in Q2 2024 [2] - Revenue was $7.48 billion, exceeding estimates by over $500 million, but down from $8.74 billion in Q2 2024 [1][2] - Income from operations was $43 million, a recovery from a loss of $(74.6) million in the previous year [2] - EBITDA decreased by 39.9% year-over-year, reflecting operational challenges [2] - Gross refining margin per barrel was $8.38, a slight increase from $8.12 in Q2 2024 [2] Operational Challenges - The Martinez refinery's partial shutdown significantly impacted production, averaging 845,800 barrels per day, down from 926,700 barrels per day in Q2 2024 [5] - West Coast throughput dropped to 203,500 barrels per day from 296,700 barrels per day year-over-year, with gross margin per barrel turning negative due to outages and compliance costs [5][6] - Operational expenses per barrel increased to $7.96 from $6.94 in Q2 2024, with West Coast expenses particularly high at $15.73 per barrel [6] Market Dynamics - Brent crude oil prices averaged $67.70 per barrel, down from $85.02 in Q2 2024, affecting overall performance [7] - RIN costs rose significantly from $3.38 to $6.14 per barrel-equivalent, inflating compliance costs, especially in California [8] - California is projected to need over 250,000 barrels per day of gasoline imports due to refinery closures, with PBF's refineries expected to be essential suppliers [9] Strategic Initiatives - The company is focusing on operational efficiency, cost containment, and restoring damaged assets, with a target of over $200 million in annualized savings from the RBI initiative [4] - Management expects full operations at the Martinez facility to resume by year-end 2025, contingent on regulatory and supply chain timelines [6][12] Financial Position - Total debt increased to $2.39 billion as of June 30, 2025, from $1.46 billion at the end of 2024, with a total debt to capitalization ratio rising to 31% [11] - The company maintained its quarterly dividend at $0.275 per share despite recent losses [11][14] Future Outlook - For Q3 2025, management forecasts throughput of 865,000–915,000 barrels per day, an increase from Q2 2025 but still below last year's levels [12] - Full-year 2025 capital expenditure guidance remains at $750–775 million, excluding Martinez repairs [12] - Management did not provide formal forward earnings guidance for fiscal 2025, citing ongoing market volatility as a key concern [13]

Financial Data and Key Metrics Changes - The company reported an adjusted net loss of $1.03 per share and adjusted EBITDA of $61.8 million for the second quarter [15][16] - Cash flow from operations for the quarter was $191.1 million, benefiting from a working capital reduction of approximately $79 million [18] - The company ended the quarter with approximately $590.7 million in cash and $1.8 billion of net debt, maintaining a net debt to capitalization ratio of 30% [20] Business Line Data and Key Metrics Changes - The Martinez refinery was partially restarted in late April, with a full restart expected by year-end [5][6] - The company achieved over $125 million in run rate savings implemented so far, with a target of $230 million by 2025 and $350 million by 2026 [13][14] - Renewable diesel production at St. Bernard Renewables averaged 14,200 barrels per day in Q2, with expectations of 16,000 to 18,000 barrels per day in Q3 [18] Market Data and Key Metrics Changes - The company noted a significant reduction of 4 million barrels of medium and heavy crude taken off the market between 2022 and 2023, with expectations of 2 to 2.5 million barrels per day returning by autumn [6][7] - Diesel demand remains strong, with global distillate supply and demand balances in deficit, supporting distillate cracks [7][8] - The California market is expected to face a gasoline shortfall of up to 250,000 barrels per day due to refinery closures [58][59] Company Strategy and Development Direction - The company is focused on improving efficiency and reliability across its refining system through business improvement initiatives [10][14] - There is an emphasis on sustainable operations and cost reductions, with 70% of savings expected to come from operating expenses and 30% from capital expenditures [26][30] - The company is exploring opportunities to maximize the value of excess land around the Delaware City refinery, potentially for data centers [45][46] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the refining environment, citing constructive tailwinds from crude supply and strong product demand [5][9] - The company is closely monitoring the regulatory environment and maintaining strong relationships with local authorities to facilitate operations [43][70] - Management highlighted the importance of continuous improvement initiatives to enhance operational excellence and safety [27][29] Other Important Information - The company received $250 million in insurance proceeds related to the Martinez fire, with expectations for additional interim payments [16][94] - The board approved a regular quarterly dividend of $0.02 per share [19] Q&A Session Summary Question: How to track cost-cutting targets? - Management indicated that approximately 70% of savings will be in operating expenses and 30% in capital expenditures, with sustainability being a key focus [26][30] Question: Evidence of light-heavy spreads widening? - Management noted that they are starting to see light-heavy spreads widen as barrels return to the market, benefiting the company [31][32] Question: Path to restart the Martinez refinery? - Management outlined that demolition is complete, and they are working on procurement and construction activities, with a focus on regulatory permits [38][43] Question: Cash position and liquidity outlook? - Management confirmed ample liquidity and a net debt to capitalization target of under 35%, indicating a strong financial position [50][51] Question: Opportunities with Starwood Digital Ventures? - Management is exploring ways to maximize land value at Delaware City but has no formal announcements yet [54][55] Question: Market dynamics in California? - Management highlighted a significant gasoline shortfall in California due to refinery closures, indicating a constructive market outlook [58][59] Question: Renewable diesel production and credits? - Management confirmed that they are close to offsetting revenue declines from the BTC to PTC switch with increasing RINs pricing [65]