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PR Newswire·

PBF Energy Announces Second Quarter 2026 Results, Declares Dividend of $0.275 per Share

  • PBF Energy reported second quarter 2026 income from operations of $1,272.1 million, compared to $43.0 million in the same period of 2025.
  • Excluding special items, second quarter 2026 income from operations was $1,054.0 million, contrasting with an $110.0 million loss from operations in the second quarter of 2025.
  • Net income for the second quarter 2026 was $915.0 million, or $7.54 per diluted share, compared to a net loss of $5.4 million in the second quarter of 2025.
  • The company declared a quarterly dividend of $0.275 per share, payable on August 28, 2026, to shareholders of record on August 14, 2026.
  • PBF reduced its gross debt by over $1 billion in the second quarter, including a $62% reduction in net debt.
  • The Martinez refinery successfully returned to full operations in May 2026 following repairs from the February 2025 fire.
  • PBF received a fifth unallocated installment of $250.0 million in insurance proceeds related to the Martinez refinery fire, bringing total unallocated reimbursements to $1.25 billion.
  • Adjusted fully-converted net income excluding special items for the second quarter 2026 was $753.1 million, or $6.22 per share.
  • The Refinery Business Improvement (RBI) initiative is projected to deliver over $350 million in run-rate cost improvements by the end of 2026.
  • Second quarter 2026 capital expenditure guidance was reduced to a range of $825 million to $875 million, excluding costs related to the Martinez rebuild.
  • Expected throughput for the third quarter 2026 ranges from 900,000 to 960,000 barrels per day across all regions.
  • St. Bernard Renewables averaged approximately 15,100 barrels per day of renewable diesel production in the second quarter, with expectations to rise to 18,000–20,000 barrels per day in the third quarter.