Quarterly ResultApr 30, 2026, 06:47 AM
PBF Q1 Income $200.2M, EPS $1.65; Declares $0.275 Dividend
AI Summary
PBF Energy Inc. reported Q1 2026 net income of $200.2 million, or $1.65 per share, a significant improvement from a net loss in Q1 2025. The company also declared a quarterly dividend of $0.275 per share. Operations were boosted by a $302.0 million after-tax benefit from special items, including an LCM inventory adjustment and insurance recoveries. The Martinez refinery restart is progressing, with full planned rates anticipated in early May, and the company received a fourth insurance installment of $106.5 million related to the fire.
Key Highlights
- Q1 2026 Net Income: $200.2 million, up from $(405.9) million in Q1 2025.
- Q1 2026 EPS: $1.65 per share, up from $(3.53) per share in Q1 2025.
- Quarterly Dividend: $0.275 per share declared, payable May 29, 2026.
- Martinez Refinery: Restart progressing, full planned rates expected in early May.
- Insurance Proceeds: Received $106.5 million for Martinez fire, totaling $1.0 billion.
- Refining Business Improvement: $230 million run-rate cost savings in 2025, targeting >$350 million by YE 2026.
- Q2 2026 Total Throughput Guidance: 850,000 to 910,000 barrels per day.