Key Takeaways PBF Energy posted Q4 adjusted EPS of 49 cents, beating estimates and the year-ago loss.PBF's refining margin rose to $11.16 per barrel as throughput climbed to 888.9K bpd.PBF Energy's Logistics segment profit edged up to $52.7M from $51.7M a year ago.PBF Energy Inc. (PBF) reported a fourth-quarter 2025 adjusted earnings of 49 cents per share, which beat the Zacks Consensus Estimate of a loss of 15 cents. The bottom line also improved from the year-ago quarter’s loss of $2.82 per share.Total qu ...

In response to questions about the West Coast market, Lucey described California as “particularly interesting” with a tighter product market and fewer buyers for California crude. He said the company expects to benefit from both dynamics as it returns Martinez to service, citing product import needs in the state and improved utilization of infrastructure such as pipelines.Senior Vice President and Head of Refining Mike Bukowski said the unplanned rebuild created significant challenges but credited the workf ...

Performance improvement in Q4 was primarily driven by widening heavy and medium crude differentials, which directly benefit PBF's high-complexity coastal refining system. The Martinez refinery is on the cusp of a methodical restart following a year-long rebuild, with full operations expected by early March to supply a tight California fuel market. Management attributes the company's torque to its ability to process approximately 200 million barrels of heavy/sour crude annually, representing 55-60% of ...

PBF Energy (NYSE:PBF) Q4 2025 Earnings call February 12, 2026 08:30 AM ET Company ParticipantsColin Murray - VP of Investor RelationsJoe Marino - CFOMatt Lucey - CEOMike Bukowski - SVP and Head of RefiningTom O'Connor - EVPConference Call ParticipantsDoug Leggate - AnalystJason Gabelman - AnalystManav Gupta - AnalystMatt Amil - AnalystPaul Cheng - AnalystPhilip Jungwirth - AnalystRyan Todd - AnalystOperatorGood day, everyone, and welcome to the PBF Energy Q4 2025 Earnings Conference Call and Webcast. At thi ...

PBF Energy (NYSE:PBF) Q4 2025 Earnings call February 12, 2026 08:30 AM ET Company ParticipantsColin Murray - VP of Investor RelationsJoe Marino - CFOMatt Lucey - CEOMike Bukowski - SVP and Head of RefiningTom O'Connor - EVPConference Call ParticipantsDoug Leggate - AnalystJason Gabelman - AnalystManav Gupta - AnalystMatt Amil - AnalystPaul Cheng - AnalystPhilip Jungwirth - AnalystRyan Todd - AnalystOperatorGood day, everyone, and welcome to the PBF Energy Fourth Quarter 2025 Earnings Conference Call and Web ...

Financial Data and Key Metrics Changes - For Q4 2025, the company reported adjusted net income of $0.49 per share and adjusted EBITDA of $258 million, reflecting a sequential improvement over prior quarters [14][20] - Cash flow from operations for the quarter was $367 million, which included a working capital draw of approximately $80 million [18] - The company ended the quarter with $528 million in cash and approximately $1.6 billion of net debt, with a net debt to capitalization ratio of 28% [19][20] Business Line Data and Key Metrics Changes - The Martinez refinery is on the verge of restarting, with construction expected to be completed soon, and full operations anticipated by early March [4][5] - The company achieved $230 million in efficiencies in 2025, with an additional $120 million in run rate savings expected by the end of 2026 [6][7] - The refining system benefited from improving crude dynamics, with increasing supply of heavy and medium crudes enhancing light-heavy spreads [5][6] Market Data and Key Metrics Changes - The market landscape for 2026 appears favorable, with tight refining balances and demand growth aligning well with transportation fuel capacity additions [5][6] - The company is particularly well-positioned to leverage the improving market dynamics, especially in California, where product markets are tightening [6][30] Company Strategy and Development Direction - The company remains focused on controlling operational aspects to enhance shareholder value, emphasizing safe, reliable, and efficient operations [7][8] - The Refinery Business Improvement (RBI) initiative has identified over 1,300 initiatives aimed at improving operational efficiency, with significant savings expected from procurement practices [12][13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the near-term outlook, supported by achieved efficiencies and a favorable market environment [6][8] - The company anticipates that the dynamics in California will create a particularly attractive market for its products, especially with the restart of the Martinez refinery [30][31] Other Important Information - The company reported a $394 million gain on insurance recoveries related to the Martinez fire, bringing total recoveries in 2025 to $894 million [15][16] - The company plans to use periods of strength to focus on reducing both gross and net debt [20][46] Q&A Session Summary Question: Impact of Venezuelan barrels on PBF - Management noted that PBF consumes a significant amount of heavy and sour material, and the influx of Venezuelan barrels will positively impact the business [22][24][26] Question: Monitoring Martinez's restart - Management indicated that the team is close to completing the construction and will ensure a methodical restart, with expectations to be fully operational by early March [27][30] Question: Drivers of margin capture improvement - The widening crude differentials and reliable operations were cited as key drivers for improved margin capture in Q4 [36][38] Question: Future CapEx and turnaround schedule - Management expects 2026 to be a particularly heavy turnaround year, but future years will normalize to a more typical cadence [99][100] Question: Insurance proceeds allocation - Management clarified that the allocation of insurance proceeds will be finalized once the claims process is complete, and current accounting conventions may not reflect the final distribution [100][101]

PBF Energy (PBF) came out with quarterly earnings of $0.49 per share, beating the Zacks Consensus Estimate of a loss of $0.15 per share. This compares to a loss of $2.82 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of +420.26%. A quarter ago, it was expected that this refiner would post a loss of $0.69 per share when it actually produced a loss of $0.52, delivering a surprise of +24.64%.Over the last four quarters, the company ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark one) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended: December 31, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-35764 PBF ENERGY INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organ ...

PBF Energy Reports Fourth Quarter and Full Year 2025 Results, Declares Dividend of $0.275 per Share PARSIPPANY, NJ - February 12, 2026 - PBF Energy Inc. (NYSE:PBF) today reported fourth quarter 2025 income from operations of $128.0 million as compared to loss from operations of $383.2 million for the fourth quarter of 2024. Excluding special items, fourth quarter 2025 income from operations was $99.4 million as compared to loss from operations of $427.9 million for the fourth quarter of 2024. The company re ...

Core Insights - PBF Energy reported a significant turnaround in its financial performance for the fourth quarter of 2025, achieving an income from operations of $128.0 million compared to a loss of $383.2 million in the same quarter of 2024 [1] - The company declared a quarterly dividend of $0.275 per share, reflecting confidence in its recovery and operational improvements [1] - The Martinez refinery is on track for a full operational restart by March 2026, following a fire incident in February 2025, with insurance expected to cover most restoration costs [1][2] Financial Performance - For the fourth quarter of 2025, PBF Energy's net income was $79.1 million, a stark contrast to a net loss of $292.6 million in Q4 2024 [1] - The full year 2025 loss from operations was $54.3 million, significantly improved from a loss of $699.0 million in 2024 [1] - Adjusted fully-converted net income for Q4 2025 was $57.8 million, compared to an adjusted loss of $324.5 million in Q4 2024 [1][4] Operational Updates - The Martinez refinery, with a capacity of 157,000 barrels per day, is nearing completion of construction activities, expected by February 16, 2026 [1][2] - The company anticipates achieving run-rate cost improvements of $350 million by the end of 2026, building on the $230 million improvements realized in 2025 [2] - PBF's refining system is expected to benefit from a constrained global refining capacity, positioning the company favorably for future demand growth [1] Market and Industry Context - Oil markets are described as dynamic, with recent headwinds turning into tailwinds for refiners, particularly benefiting PBF Energy [1] - The company is focused on safety, reliability, and environmentally responsible operations as it navigates the competitive landscape [1] - PBF Energy's refining margins have improved, with gross refining margin per barrel of throughput at $11.16 in Q4 2025, compared to $4.89 in Q4 2024 [5]