PBF Energy Inc. reports news on its independent petroleum refining business, including refinery operations, financial results, throughput guidance, dividend declarations and investor conference participation. The company operates oil refineries and related facilities through subsidiaries in California, Delaware, Louisiana, New Jersey and Ohio, and supplies transportation fuels, heating oil, petrochemical feedstocks, lubricants and other petroleum products.
Recurring updates also address operational reliability, turnaround activity, the Martinez refinery, market conditions affecting refining margins and PBF Energy's 50% interest in the St. Bernard Renewables joint venture focused on next generation sustainable fuels.
PBF Energy (PBF) reported third-quarter 2026 net income attributable to stockholders of $1,529.3 million, alongside higher revenue and an increased dividend. Revenue rose to $12,132.8 million from $7,651.1 million a year earlier; diluted earnings increased to $12.54 per share from $1.45. Operating income reached $2,100.9 million versus $285.9 million.
The quarterly dividend rises 18% to $0.325 per share, payable November 24, 2026. Quarter-end cash was approximately $2.5 billion against approximately $2.1 billion of debt. PBF subsequently repaid $800 million of notes using cash. The company expects annualized cost improvements to exceed $350 million by year-end 2026. Capital spending guidance remains $825–$875 million, excluding the Martinez rebuild. Martinez returned to full operations in May; Chalmette and Toledo turnarounds moved to 2027. Fourth-quarter throughput is expected at 925,000–985,000 barrels per day.
The National Association of Corporate Directors New England Chapter (NACDNE) has appointed five new members to its Board of Directors.
The appointees are Tracy Atkinson, Heather Campion, Michael Curry, Jack Egan and Damian Wilmot. Atkinson serves on the boards of Citizens Financial Group and RTX. Campion is Managing Director at DSG Global. Curry is President and CEO of the Massachusetts League of Community Health Centers. Egan has served on the boards of EMC and VMware. Wilmot currently serves on the boards of PBF Energy and Fidelity Charitable.
PBF Energy (PBF) will release third-quarter 2026 earnings results on October 29, 2026, and discuss them on a conference call.
The call and webcast are scheduled for 8:30 a.m. ET that day. An audio replay will be available on the company's website approximately two hours after the call ends.
PBF Energy (PBF) has priced $500 million of 0% senior unsecured exchangeable notes due January 15, 2032 in a private Rule 144A offering, expected to close on September 17, 2026, with an option for initial purchasers to buy an additional $50 million.
The notes, co‑issued by PBF Holding Company and PBF Finance Corporation and guaranteed by certain PBF Holding subsidiaries, bear no cash interest and no accretion. Holders may exchange in specified periods, receiving cash up to principal and, at the issuers’ election, cash, PBF Energy Class A common stock or a combination above principal. The initial exchange rate is 10.3306 shares per $1,000, implying an exchange price of about $96.80, a 37.5% premium to the September 14, 2026 share price of $70.40, subject to customary adjustments.
Net proceeds are estimated at $485.0 million (or $533.6 million if the option is fully exercised). PBF plans to spend $25.2 million on capped call transactions, which are expected to reduce potential dilution up to a cap price of $123.20 per share (75.0% above the reference price), and use the balance, together with cash on hand, to repay or redeem all outstanding 7.875% Senior Unsecured Notes due 2030.
PBF Energy (PBF) plans a private offering of $500 million aggregate principal amount of senior, unsecured exchangeable notes due January 15, 2032, subject to market conditions.
The notes will be co-issued by PBF Holding Company and PBF Finance, with an option for initial purchasers to buy up to an additional $50 million. They will be guaranteed on a senior unsecured basis by certain PBF Holding subsidiaries that guarantee its existing senior unsecured notes, but not by PBF Energy. Holders may exchange in specified periods, with settlement in cash up to principal and, at the issuers’ election, cash, PBF Energy Class A common stock, or both for any excess.
PBF intends to use net proceeds to pay for capped call transactions and, with available cash, to repay or redeem all outstanding 7.875% senior unsecured notes due 2030. The offering will be made only to qualified institutional buyers under Rule 144A.
PBF Energy (NYSE: PBF) reported second quarter 2026 income from operations of $1,272.1 million, up from $43.0 million a year earlier. Excluding special items, income from operations was $1,054.0 million versus a loss of $110.0 million in 2025. Net income was $915.0 million, or $7.54 diluted EPS, compared with a net loss of $5.4 million, or $(0.05) per share. Adjusted fully-converted net income excluding special items was $753.1 million, or $6.22 per share, versus an adjusted loss of $118.5 million in 2025.
According to PBF Energy, the company reduced gross debt by over $1 billion and cut net debt by over 62% in the quarter, ending with $894 million of cash, $1,749 million of total debt and $855 million of net debt. PBF received a $250 million fifth installment of Martinez fire insurance proceeds, bringing total unallocated reimbursements to $1.25 billion, and completed the Martinez refinery restart in May 2026. The board declared a quarterly dividend of $0.275 per share, payable August 28, 2026, to shareholders of record on August 14, 2026. 2026 capital expenditure guidance was reduced to $825–$875 million (excluding Martinez rebuild), and third quarter throughput is expected between 900,000 and 960,000 bpd. Renewable diesel output at St. Bernard Renewables averaged 15,100 bpd in Q2, with third quarter expectations of 18,000–20,000 bpd.
PBF Energy (NYSE:PBF) will release its second quarter 2026 earnings results on Thursday, July 30, 2026. Management will discuss results and other business matters on a conference call and webcast at 8:30 a.m. ET, accessible via PBF Energy's website and designated dial-in numbers.
PBF Energy (NYSE:PBF) announced that its management team will participate in the Bank of America Energy and Power Credit Conference on June 3, 2026. Any related presentation materials will be posted in the Investor Relations section of the PBF Energy website.
PBF Energy (NYSE:PBF) announced that subsidiary PBF Holding has priced $500 million of 7.25% senior notes due 2034 in a private offering, expected to close May 28, 2026.
PBF Holding plans to use proceeds and cash to redeem all $801.6 million of its 6.00% notes due 2028, with a conditional redemption date of June 25, 2026.
PBF Energy (NYSE:PBF) announced that indirect subsidiary PBF Holding plans a private offering of $500 million senior notes due 2034, co-issued with PBF Finance Corporation, subject to market and other conditions.
PBF Holding intends to use net proceeds and cash to redeem its outstanding 6.00% Senior Notes due 2028 in full.