Welcome to our dedicated page for Pbf Energy news (Ticker: PBF), a resource for investors and traders seeking the latest updates and insights on Pbf Energy stock.
PBF Energy Inc. (NYSE: PBF) is one of the largest independent petroleum refiners in North America, operating refineries and related facilities in California, Delaware, Louisiana, New Jersey and Ohio. The PBF Energy news feed on this page brings together company-issued press releases and other coverage that reflect how this refining and logistics business evolves over time.
Readers can follow PBF Energy news related to refinery operations, financial performance, capital allocation and strategic initiatives. Recent communications have included updates on the Martinez, California refinery following a February 1, 2025 fire, including rebuild progress, expected throughput ranges and the role of property and business interruption insurance in addressing repair costs and downtime. The company also reports on the sale of non-core terminal assets, dividend declarations and guidance for refining throughput across its East Coast, Mid-continent, Gulf Coast and West Coast regions.
News items frequently cover quarterly earnings announcements, where PBF discusses income from operations, net income or loss, and the impact of special items such as insurance recoveries, asset sales and costs associated with specific events or initiatives. Releases also describe the company’s Refining Business Improvement initiative, which focuses on improving reliability and efficiency across its refining system, and provide context on capital expenditure plans and turnaround schedules.
PBF Energy regularly announces participation in industry and investor conferences, such as events hosted by Goldman Sachs, TD Cowen, Mizuho and Citi, where members of management present the company’s outlook and strategy. Updates on corporate governance and leadership, including changes in senior finance roles and long-term incentive awards for named executive officers, are also disclosed through news and related SEC filings. Investors and observers can use this page to track these developments and review the company’s own descriptions of its refining operations, logistics activities and its 50% partnership in the St. Bernard Renewables joint venture focused on next generation sustainable fuels.
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.
PBF Energy (NYSE: PBF) has announced plans to repair and restart its Martinez refinery in California following a fire on February 1, 2025. The 157,000 barrel-per-day facility will resume operations in two stages:
Stage 1 (early Q2 2025): Restart of crude unit with throughput of 85,000-105,000 barrels per day, producing gasoline, jet fuel, and intermediates.
Stage 2 (by Q4 2025): Restart of remaining units, including those scheduled for Q1 turnaround.
The repair costs are expected to be largely covered by insurance, with company deductibles and retentions totaling $30 million. Business interruption insurance should significantly offset financial losses from April 3, 2025, until full restoration, covering ongoing costs and potential lost margin opportunity.
PBF Energy (NYSE:PBF) has announced its upcoming participation in two major industry conferences in March 2025. The company's management team will attend the Raymond James Institutional Investor Conference on March 3-4, 2025, followed by the Wolfe Research Refining Conference on March 6, 2025.
Investors and stakeholders can access any presentation materials through the Investor Relations section on PBF Energy's official website at www.pbfenergy.com.
PBF Energy (NYSE:PBF) has announced its participation in the upcoming Scotiabank Global Energy Conference scheduled for February 26, 2025. Members of the company's management team will be present at the conference.
The company has confirmed that any presentation materials used during the conference will be accessible to investors through the Investor Relations section of PBF Energy's official website at www.pbfenergy.com.
PBF Energy reported significant losses for Q4 and full-year 2024. The company posted a Q4 loss from operations of $383.2 million (excluding special items: $427.9 million), compared to a loss of $47.2 million in Q4 2023. Full-year 2024 showed a loss from operations of $699.0 million, versus income of $2,951.5 million in 2023.
The company declared a quarterly dividend of $0.275 per share, returning over $60 million to stockholders through dividends and buybacks in Q4, and approximately $450 million throughout 2024. A fire at the Martinez refinery on February 1, 2025, led to temporary shutdown, with impact assessment ongoing.
At year-end, PBF had approximately $536 million in cash and $921 million in net debt. The company's renewable diesel operation averaged 17,000 barrels per day in Q4, with Q1 2025 production expected to decrease to 10,000-12,000 barrels during catalyst change.
PBF Energy (NYSE:PBF) has announced it will release its fourth quarter 2024 earnings results on Thursday, February 13, 2025. The company will host a conference call and webcast at 8:30 a.m. ET on the same day to discuss the results and other business matters. Investors can access the webcast through PBF Energy's website or join via phone using the provided dial-in numbers. 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 that its management team will take part in the Goldman Sachs Energy, CleanTech & Utilities Conference, scheduled for January 6-8, 2025. The company plans to make any presentation materials from the conference available to investors through the Investor Relations section of their website at www.pbfenergy.com.
PBF Energy (NYSE:PBF) has announced its management team's upcoming participation in the TD Cowen Energy Conference scheduled for November 19, 2024. The company will make any presentation materials from the conference available to investors through the Investor Relations section of their website at www.pbfenergy.com.