Earnings Releases·Oct 29, 2026, 6:46 AM ET

PBF Energy — Third Quarter 2026 Earnings Summary

Third quarter 2026 net income attributable to PBF Energy Inc. surged to $1,529.3 million ($12.54 per share) from $171.7 million ($1.45 per share) in the prior year period, driven by a 58.5% revenue increase to $12.13 billion and a consolidated gross margin per barrel of $25.54 versus $0.49 in Q3 2025.
The company executed significant balance sheet strengthening by reducing net debt by over $1.2 billion to a negative 6% net debt-to-capitalization ratio, facilitated by issuing $550 million of 0% Exchangeable Notes and fully redeeming $1.3 billion in senior unsecured notes.
Capital allocation includes an 18% dividend increase to $0.325 per share and maintained 2026 capital expenditure guidance of $825–$875 million, while the Refinery Business Improvement program is on track to deliver over $350 million in run-rate cost improvements by year-end.
Operational recovery is evident with the Martinez refinery at full operations and $1.25 billion in insurance proceeds received, alongside Q4 2026 throughput guidance of 925,000–985,000 barrels per day and renewable diesel production expected to average 18,000–20,000 barrels per day.