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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 (NYSE:PBF) reported Q2 2025 results with income from operations of $43.0 million, compared to a loss of $74.6 million in Q2 2024. Excluding special items, the company posted a Q2 2025 loss from operations of $110.0 million. Net loss was $5.4 million, or $(0.05) per share.
The company declared a quarterly dividend of $0.275 per share and announced partial restoration of its Martinez refinery operations following a February 2025 fire. The facility is operating at 85,000-105,000 barrels per day, with full operations expected by year-end 2025. Insurance proceeds of $280 million were received.
PBF plans to sell two refined product terminals for $175 million and expects to generate over $200 million in cost savings by end-2025 through its Refinery Business Improvement initiative. The company maintains $591 million in cash and $2.4 billion in total debt.
[ "Received $280 million in insurance proceeds ($250 million net) for Martinez fire damage", "Expected cost savings of over $200 million by end-2025 and $350 million by end-2026", "Strategic sale of two terminal facilities for $175 million", "Maintains strong liquidity with $591 million cash position", "Performance improved across all regions in Q2", "St. Bernard Renewables averaged 14,200 barrels per day of renewable diesel production" ]PBF Energy (NYSE: PBF) has announced its management team's upcoming participation in two industry conferences. The team will attend the Goldman Sachs Tenth Annual Leveraged Finance Conference on May 28-29, 2025, and the Bank of America Energy and Power Credit Conference on June 4, 2025. Any presentation materials from these events will be accessible to investors through the Investor Relations section of PBF Energy's website at www.pbfenergy.com.
PBF Energy (NYSE:PBF) has scheduled the release of its first quarter 2025 earnings results for Thursday, May 1, 2025. The company will conduct a conference call and webcast to discuss the quarterly results and other business matters on the same day at 8:30 a.m. ET.
Interested parties can access the webcast through PBF Energy's website at pbfenergy.com. Additionally, participants can join via phone by dialing (800) 549-8228 or (646) 564-2877. An audio replay will be made available approximately two hours after the call's conclusion on the company's website.
PBF Energy (NYSE:PBF) has announced its upcoming participation in the Piper Sandler 25th Annual Energy Conference scheduled for March 18, 2025. The company's management team will be present at the event, representing one of the notable energy sector participants at this milestone conference.
Any presentation materials from the conference will be accessible to investors and interested parties through the Investor Relations section on PBF Energy's official website at www.pbfenergy.com.
PBF Energy (NYSE:PBF) has announced the pricing of an upsized $800 million senior notes offering through its indirect subsidiary, PBF Holding Company The notes, due 2030, carry a 9.875% interest rate and are priced at 98.563% of face value.
The offering, expected to close on March 17, 2025, will be co-issued by PBF Finance The proceeds will be used to repay outstanding borrowings under its asset-based revolving credit facility and for general corporate purposes. The notes will be offered privately to qualified institutional buyers under Rule 144A and to non-U.S. persons under Regulation S of the Securities Act.
PBF Energy (NYSE:PBF) has announced plans to offer $750 million in senior notes due 2030 through its indirect subsidiary, PBF Holding Company The notes will be co-issued by PBF Finance and offered in a private placement to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S.
The proceeds from this offering will be used to repay outstanding borrowings under the company's asset-based revolving credit facility and for general corporate purposes. The offering is subject to market conditions and will only be available to qualified investors through a private offering memorandum.
PBF Energy (NYSE: PBF) announced that Thomas J. Nimbley will retire from his position as Executive Chairman on June 30, 2025. Following his re-election at the company's 2025 Annual Meeting, he will transition to non-executive Chairman of the Board effective July 1, 2025.
Nimbley previously served as CEO from June 2010 to June 2023 before becoming Executive Chairman. Under his leadership, PBF Energy evolved from a startup to one of the largest independent refiners in the United States, operating six refineries with a combined throughput of approximately 1 million barrels per day.
Gene Edwards, PBF Energy's Lead Director, praised Nimbley's exemplary leadership and role in building a talented executive team. Matthew Lucey, current CEO and President, expressed gratitude for Nimbley's leadership and guidance, noting that the company will continue to benefit from his board leadership.