PBF Delays Refinery Turnarounds, Q2 Margins Triple to $23.40/bbl
PBF has more than doubled off its 52-week low of $21.24.
Summary
PBF Energy is pushing back planned maintenance at three key refineries to capitalize on near-record refining margins, a move that directly boosts near-term cash flow. The Martinez hydrocracker turnaround shifts to late Q3, while Chalmette and Toledo work slides to 2027. This follows a massive Q2 beat earlier today, with adjusted EPS of $6.22 and gross margins surging to $23.40/bbl—nearly triple last year's level. The company also disclosed it is buying back two hydrogen plants at Torrance to improve reliability. Specific Q3 throughput guidance of 900-960k b/d, with regional breakdowns, gives a clear picture of operational momentum. With global supply still tight due to geopolitical disruptions, management expects strong conditions to persist into 2027.
At the time of this announcement, PBF was trading at $73.41 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $8.7B. The 52-week trading range was $21.24 to $74.11. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.