PBF Energy Crushes Q2 Estimates with $6.22 EPS, Margins Surge to $14.20/bbl
PBF has more than doubled off its 52-week low of $21.24.
Summary
PBF Energy delivered a massive Q2 beat, posting adjusted EPS of $6.22 against a $4.17 consensus, driven by a surge in refining margins to $14.20 per barrel from a year-ago loss. The return of the Martinez refinery to full operations in May, combined with tighter fuel markets following the U.S.-Iran war, fueled the outperformance. Management also slashed 2026 capex to $825M-$875M, excluding the Martinez rebuild, and guided Q3 throughput to 900,000-960,000 bpd. This follows a string of operational disruptions earlier in the year, including fires and leaks at multiple refineries, making the recovery and margin capture a significant positive inflection. The premarket 3.8% share price jump reflects the magnitude of the surprise.
At the time of this announcement, PBF was trading at $64.00 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $7.5B. The 52-week trading range was $21.24 to $68.33. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Reuters.