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

Posted by Brenda Bartman on Jul 30th, 2026

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

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 Trading Up 16.0%

Shares of PBF Energy stock traded up $10.11 on Thursday, reaching $73.46. 6,591,328 shares of the company’s stock were exchanged, compared to its average volume of 2,813,214. The company has a market capitalization of $8.69 billion, a P/E ratio of 19.80, a price-to-earnings-growth ratio of 0.10 and a beta of 0.11. PBF Energy has a 52 week low of $21.24 and a 52 week high of $74.74. The firm’s 50-day moving average is $48.57 and its two-hundred day moving average is $42.71. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.62 and a current ratio of 1.31.

PBF Energy Dividend Announcement

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

Key PBF Energy News

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

Positive Sentiment: Q2 results significantly exceeded expectations. PBF reported earnings of $6.22 per share versus the $4.05–$4.15 analyst consensus, compared with a $1.03 loss a year earlier. Revenue rose 56.2% year over year to $11.68 billion, well above the approximately $9.6 billion estimate. PBF Energy Announces Second Quarter 2026 Results
Positive Sentiment: Refining conditions were highly favorable. Stronger crack spreads and market disruptions lifted refining margins, helping income from operations surge to $1.27 billion from $43 million in the prior-year quarter. PBF also delayed planned turnaround work at three refineries, which could preserve near-term production and cash flow. PBF Energy Delays Planned Turnaround Work
Positive Sentiment: Debt reduction and operational milestones strengthened the outlook. PBF reduced gross debt by more than $1 billion during the quarter, received a $250 million installment related to the Martinez refinery fire and completed the refinery’s restart in May.
Positive Sentiment: Shareholder returns and bullish trading activity provided additional support. The company declared a quarterly dividend of $0.275 per share, while investors purchased approximately 7,100 call options—about 69% above average daily volume—signaling increased short-term bullish interest.
Neutral Sentiment: Analyst coverage remains cautious despite the earnings beat. PBF’s consensus rating is “Hold,” with several neutral or sell ratings and an average price target below the current market level; these targets may not yet reflect the latest results.
Negative Sentiment: Control Empresarial De Capital sold 220,000 shares for approximately $14.1 million and has made multiple additional sales in recent weeks. The insider still owns a substantial position, but continued selling could weigh on sentiment.

Analyst Ratings Changes

A number of research firms recently weighed in on PBF. TD Cowen increased their price objective on PBF Energy from $39.00 to $68.00 and gave the company a “hold” rating in a report on Tuesday, July 21st. Scotiabank raised their price objective on PBF Energy from $28.00 to $34.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. Evercore assumed coverage on PBF Energy in a research note on Friday, July 17th. They issued an “in-line” rating and a $58.00 price objective on the stock. BMO Capital Markets upped their target price on PBF Energy from $43.00 to $50.00 and gave the company a “market perform” rating in a report on Thursday, April 2nd. Finally, Zacks Research raised shares of PBF Energy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $45.62.

View Our Latest Report on PBF

Insider Activity

In other PBF Energy news, insider Control Empresarial De Capital sold 570,000 shares of the firm’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $46.36, for a total value of $26,425,200.00. Following the completion of the sale, the insider directly owned 17,142,128 shares in the company, valued at approximately $794,709,054.08. This trade represents a 3.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders have sold 3,396,570 shares of company stock worth $163,978,356. 5.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PBF. Invesco Ltd. boosted its holdings in PBF Energy by 147.4% in the third quarter. Invesco Ltd. now owns 2,772,258 shares of the oil and gas company’s stock worth $83,639,000 after acquiring an additional 1,651,516 shares in the last quarter. AQR Capital Management LLC raised its position in shares of PBF Energy by 230.7% during the second quarter. AQR Capital Management LLC now owns 2,085,060 shares of the oil and gas company’s stock worth $45,183,000 after purchasing an additional 1,454,500 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in shares of PBF Energy by 2,198.8% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,212,368 shares of the oil and gas company’s stock worth $36,577,000 after purchasing an additional 1,159,628 shares in the last quarter. BNP Paribas Financial Markets grew its position in PBF Energy by 276.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,028,799 shares of the oil and gas company’s stock valued at $22,294,000 after purchasing an additional 755,310 shares during the period. Finally, Voloridge Investment Management LLC grew its position in PBF Energy by 49.7% in the 4th quarter. Voloridge Investment Management LLC now owns 1,729,304 shares of the oil and gas company’s stock valued at $46,899,000 after purchasing an additional 574,001 shares during the period. 96.29% of the stock is owned by institutional investors and hedge funds.

PBF Energy Company Profile

(Get Free Report)

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.