PBF Energy Posts $12.54 Q3 EPS, Raises Dividend 18% and Cuts Net Debt by $1.2B
PBF has more than doubled off its 52-week low of $25.62.
Summary
PBF earned $12.54 per diluted share in the third quarter on $2,100.9 million of operating income, cut net debt by more than $1.2 billion and raised the quarterly dividend 18% to $0.325.
Key Events · Earnings and Guidance · PBF
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Q3 Earnings Surge on Refining Margins
Third-quarter income from operations came in at $2,100.9 million versus $285.9 million a year earlier, with net income attributable to PBF of $1,529.3 million, or $12.54 per diluted share.
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Dividend Raised 18%
The quarterly dividend rises to $0.325 per share from $0.275, payable November 24, 2026 to holders of record November 12.
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Net Debt Cut by $1.2 Billion
Quarter-end cash of $2,544.3 million against total debt of $2,118.4 million left $426 million of net cash; after quarter-end, the $800 million 9.875% notes due 2030 were called and repaid.
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Turnarounds Pushed Into 2027
Chalmette and Toledo fourth-quarter turnarounds moved to 2027; 2026 capital guidance held at $825-$875 million, with fourth-quarter throughput guided to 925,000-985,000 bpd.
Analysis · PBF · Energy & Transportation
Even against a strong refining tape, the third quarter stands out: income from operations reached $2,100.9 million versus $285.9 million a year ago, powered by crack spreads that roughly doubled to $64.77 per barrel on the New York Harbor 2-1-1 benchmark. That cash generation allowed the company to cut net debt by more than $1.2 billion in a single quarter and finish September with $426 million of net cash, then retire the remaining $800 million of 9.875% notes after quarter-end. Shareholders get part of the windfall through an 18% dividend increase to $0.325 per share, payable November 24. The caveat: this is a peak-margin quarter, and pushing the Chalmette and Toledo turnarounds into 2027 flatters near-term throughput while deferring maintenance spending rather than eliminating it.
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In the 30 days to Oct 29, 2026, 38.8% of the 970 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.46%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, PBF was trading at $74.55 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $8.7B. The 52-week trading range was $25.62 to $92.46. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.