PBF Energy (NYSE:PBF) Issues Quarterly Earnings Results, Beats Estimates By $2.07 EPS

PBF Energy (NYSE:PBF) released its earnings results on Thursday. The oil and gas company reported $6.22 earnings per share for the quarter, topping the consensus estimate of $4.15 by $2.07, FiscalAI reports. PBF Energy had a negative return on equity of 4.12% and a net margin of 1.46%.The firm had revenue of $11.68 billion for the quarter, compared to the consensus estimate of $9.61 billion. During the same period in the prior year, the business posted ($1.03) earnings per share. The firm’s revenue for the quarter was up 56.2% compared to the same quarter last year.

Here are the key takeaways from PBF Energy’s conference call:

• Strong second-quarter results and cash generation: PBF reported adjusted EPS of $6.22, adjusted EBITDA of $1.24 billion, and $1.6 billion of operating cash flow, supported by tight global product markets.
• Balance-sheet improvement accelerated: The company reduced net debt by more than $1.4 billion, ended the quarter with $894 million in cash and 15% net debt-to-capital, and expects approximately $1.5 billion of cash by the end of July.
• Management sees an extended favorable refining environment: Geopolitical disruptions have taken more than 5 million barrels per day of refining capacity offline, while low product inventories and slow restocking could support elevated refining margins into 2027.
• Operational performance is improving but remains uneven: Martinez has returned to full operations, while the company is delaying several turnarounds to 2027 and expects about $60 million in annual procurement savings; however, Martinez’s hydrocracker turnaround and repairs at Chalmette remain upcoming execution items.
• Renewable-fuel compliance costs remain a significant burden: Management said the RFS program imposes roughly $14 per barrel of cost on PBF and warned that rising mandate requirements could create supply constraints, despite recent relief from lower RIN prices.

PBF Energy Stock Down 2.0%

Shares of PBF stock traded down $1.47 during mid-day trading on Friday, reaching $71.64. 1,842,230 shares of the company were exchanged, compared to its average volume of 3,364,572. PBF Energy has a fifty-two week low of $21.24 and a fifty-two week high of $74.74. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.62 and a current ratio of 1.31. The company has a market capitalization of $8.48 billion, a P/E ratio of 19.32, a P/E/G ratio of 0.10 and a beta of 0.11. The business’s 50 day simple moving average is $48.57 and its 200 day simple moving average is $42.71.

PBF Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Friday, August 14th. PBF Energy’s dividend payout ratio is 29.65%.

More PBF Energy News

Here are the key news stories impacting PBF Energy this week:

• Positive Sentiment: Major earnings beat: PBF reported second-quarter EPS of $6.22, versus consensus estimates of roughly $4.05–$4.15 and a loss of $1.03 a year earlier. Revenue increased 56.2% year over year to $11.68 billion, well above expectations. PBF Energy Announces Second Quarter 2026 Results
• Positive Sentiment: Refining margins drove the turnaround: Earnings surged as market disruptions strengthened refining margins. Operating income reached $1.27 billion, compared with $43 million in the prior-year quarter, helping drive the stock to a recent record high. PBF Energy surges after Q2 profit
• Positive Sentiment: Balance sheet improved: PBF reduced gross debt by more than $1 billion during the quarter and expects approximately $1.5 billion of cash by the end of July. Management is targeting about $850 million in 2026 capital expenditures, which could support financial flexibility and shareholder returns. PBF cash and capital expenditure outlook
• Positive Sentiment: Shareholder return maintained: The company declared a quarterly dividend of $0.275 per share, payable August 28 to shareholders of record August 14.
• Neutral Sentiment: PBF delayed planned turnaround work at three refineries, allowing it to benefit from strong near-term operating conditions but potentially increasing future maintenance and execution risk. PBF refinery turnaround delays
• Negative Sentiment: After the sharp rally and record high, investors may be taking profits and questioning whether unusually strong refining margins are sustainable. Elevated earnings expectations and margin normalization could limit further upside despite the strong quarter.

Insider Activity

In related news, insider Control Empresarial De Capital sold 220,000 shares of the company’s stock in a transaction on Monday, July 20th. The shares were sold at an average price of $63.96, for a total value of $14,071,200.00. Following the sale, the insider directly owned 15,492,128 shares of the company’s stock, valued at $990,876,506.88. This represents a 1.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 3,396,570 shares of company stock valued at $163,978,356 in the last three months. 5.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PBF. Los Angeles Capital Management LLC bought a new position in shares of PBF Energy during the fourth quarter worth about $31,000. Smartleaf Asset Management LLC increased its holdings in PBF Energy by 65.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,466 shares of the oil and gas company’s stock valued at $38,000 after buying an additional 579 shares during the last quarter. Quarry LP raised its stake in PBF Energy by 4,868.4% during the third quarter. Quarry LP now owns 2,832 shares of the oil and gas company’s stock valued at $85,000 after buying an additional 2,775 shares in the last quarter. Advisory Services Network LLC acquired a new stake in PBF Energy during the third quarter valued at approximately $92,000. Finally, Kestra Advisory Services LLC bought a new position in PBF Energy during the 4th quarter worth approximately $87,000. 96.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PBF. Freedom Capital upgraded PBF Energy to a “hold” rating in a report on Tuesday, July 7th. Mizuho lifted their price objective on PBF Energy from $48.00 to $57.00 and gave the company a “neutral” rating in a research note on Tuesday, July 14th. Citigroup lifted their price target on shares of PBF Energy from $43.00 to $65.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of PBF Energy in a research report on Monday, May 11th. Finally, Evercore began coverage on shares of PBF Energy in a report on Friday, July 17th. They set an “in-line” rating and a $58.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have given a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, PBF Energy presently has a consensus rating of “Hold” and a consensus target price of $45.62.

About PBF Energy

PBF Energy, Inc is an independent petroleum refiner organized in 2008 and headquartered in Parsippany, New Jersey. The company began trading on the New York Stock Exchange in July 2012 under the ticker symbol PBF. Since its formation, PBF Energy has grown through acquisitions and operational optimization, positioning itself as a leading supplier of refined petroleum products in the United States.

The company owns and operates five refineries located along the U.S. Gulf Coast, East Coast and in the Pacific Northwest, with a combined crude oil processing capacity of approximately 900,000 barrels per day.