PBF Energy (PBF) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

Apr 30, 2026

Before Open (Confirmed)

Period Ending

2026 (Q1)

Consensus EPS Forecast

-0.58

Last Year’s EPS

-3.09

Same Quarter Last Year

Analyst Consensus

Hold

Based on 10 Analysts Ratings

Earnings Call Summary

Q4 2025

Earnings Call Date:Feb 12, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call conveyed a predominantly positive outlook driven by an imminent Martinez restart, sequential Q4 improvement (adjusted EBITDA $258M; adjusted EPS $0.49), large insurance recoveries ($894M in 2025), and substantial, realized RBI savings ($230M achieved, $350M targeted). Operational advantages from heavy/sour crude exposure and tight refining fundamentals (notably in California) were emphasized as durable tailwinds. Notable risks remain: Martinez rebuild costs and BI settlement timing, accounting adjustments (LCM inventory), renewable diesel margin pressure at SBR, RIN price volatility (~+100% year-over-year), and energy-price sensitivity (~$100M per $1/MMBtu). Overall, the positive operational and financial developments and clear near-term catalysts outweigh the outstanding uncertainties, supporting a constructive near-term outlook.

Company Guidance

Management guided that Martinez construction will finish this weekend, the plant will be turned over to operations next week and the refinery is expected to be fully operational in early March, with Q1 CapEx and working‑capital outflows tied to the restart and normal seasonal inventory patterns; Torrance mechanical work is complete and in startup. They highlighted $230,000,000 of achieved 2025 RBI run‑rate savings (stated as $0.50/barrel or ~ $160,000,000 OpEx reduction vs. 2024), identified an incremental $120,000,000 of run‑rate savings for a $350,000,000 total expected by year‑end, cut capital/turnaround spend by $70,000,000, expect >$35,000,000/year from centralized procurement, and have >1,300 RBI initiatives (avg ~ $0.5M each) with >500 implemented. Key financial metrics noted: Q4 adjusted EPS $0.49, adjusted EBITDA $258,000,000, cash from operations $367,000,000 (including ~ $80,000,000 working‑capital draw), Q4 cash CapEx $124,000,000 (ex‑Martinez) and ~ $273,000,000 Martinez‑related CapEx in Q4, 2025 CapEx ex‑Martinez ~ $629,000,000; quarter‑end cash $528,000,000, net debt ~ $1,600,000,000 (net‑debt‑to‑cap 28%), and liquidity ~ $2,300,000,000; board approved a $0.275/share quarterly dividend and paid $126,000,000 in dividends in 2025. Other call metrics: SBR produced ~16,700 bpd renewable diesel in Q4, Q4 included a $394,000,000 insurance recovery (total 2025 recoveries $894,000,000), Q4 special Martinez OpEx was $41,000,000 ( $164,000,000 YTD), and management noted sensitivities of roughly $100,000,000 per $1/MMBtu change in natural gas and ~$200,000,000 per $1 move in crude differentials on an annual basis.

Martinez Restart Imminent

Construction completion this weekend with handoff to operations next week; methodical restart underway and expected to be fully operational in early March. Management emphasized industry-top quartile safety performance during rebuild and expects Martinez to contribute to a tighter California product market once online.

Fourth Quarter Financial Results (ex. special items)

Adjusted net income of $0.49 per share and adjusted EBITDA of $258,000,000 for Q4. Cash flow from operations for the quarter was $367,000,000 (included an ~ $80,000,000 working capital draw related to inventory moves and falling commodity prices).

Large Insurance Recoveries Received

Received a $394,000,000 unallocated insurance payment in Q4, bringing total 2025 insurance recoveries to $894,000,000 (net of deductibles/retention). Management expects further potential interim payments as claims are finalized.

Significant RBI (Refinery Business Improvement) Savings Achieved

Achieved $230,000,000 of annualized run-rate savings in 2025 (equivalent to ~$0.50/bbl or ~$160,000,000 reduction in OpEx vs 2024 benchmark) and $70,000,000 of reduced capital/turnaround expenditures. Identified an additional $120,000,000 of run-rate savings for a total expected $350,000,000 by year-end 2026. RBI program identified >1,300 initiatives and has implemented >500 to date (~38% implemented).

Procurement and Operational Efficiency Wins

Centrally led procurement initiative expected to deliver >$35,000,000 of annual savings. Energy efficiency and turnaround discipline cited as major drivers of OpEx and CapEx savings (turnaround man-hours up ~30% while costs up ~10% year-over-year in current heavy-turnaround cycle).

Operational Leverage to Heavy/Sour Crude Differentials

PBF processes ~55–60% medium/heavy sour barrels (approx. 200,000,000 barrels/year). Management stated a $1 improvement in relevant crude differentials can equate to roughly $200,000,000 of annual benefit to the business, and widening sour differentials (Venezuela barrels & OPEC+ taper) are a material tailwind.

Balance Sheet and Liquidity Position

Ended Q4 with $528,000,000 cash, ~ $1,600,000,000 net debt, net debt-to-capital of 28%, and estimated liquidity of approximately $2,300,000,000 (cash + borrowing capacity under ABL at current commodity prices). Board approved regular quarterly dividend of $0.275 per share; cash dividends paid totaled $126,000,000 in 2025.

Renewable Diesel Production at SBR

St. Bernard Renewables (SBR) produced an average of 16,700 barrels per day of renewable diesel in Q4, providing a strategic hedge to RIN exposure and participation in the growing renewables market despite near-term margin headwinds.

PBF Energy (PBF) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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PBF Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Apr 30, 2026	2026 (Q1)	-0.58 / -	-3.09	―	―	―
Feb 12, 2026	2025 (Q4)	-0.10 / 0.49	-2.82	117.38% (+3.31)	―
Oct 30, 2025	2025 (Q3)	-0.75 / -0.52	-1.5	65.33% (+0.98)	―
Jul 31, 2025	2025 (Q2)	-1.26 / -1.03	-0.54	-90.74% (-0.49)	―
May 01, 2025	2025 (Q1)	-3.30 / -3.09	0.85	-463.53% (-3.94)	―
Feb 13, 2025	2024 (Q4)	-2.81 / -2.82	-0.41	-587.80% (-2.41)	―
Oct 31, 2024	2024 (Q3)	-1.41 / -1.50	6.61	-122.69% (-8.11)	―
Aug 01, 2024	2024 (Q2)	-0.16 / -0.54	2.29	-123.58% (-2.83)	―
May 02, 2024	2024 (Q1)	0.69 / 0.85	2.76	-69.20% (-1.91)	―
Feb 15, 2024	2023 (Q4)	0.20 / -0.41	4.41	-109.30% (-4.82)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

PBF Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Feb 12, 2026	$35.77	$33.67	-5.87%
Oct 30, 2025	$33.86	$34.31	+1.35%
Jul 31, 2025	$24.16	$22.17	-8.24%
May 01, 2025	$16.65	$16.14	-3.03%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does PBF Energy (PBF) report earnings?

PBF Energy (PBF) is schdueled to report earning on Apr 30, 2026, Before Open (Confirmed).

What is PBF Energy (PBF) earnings time?

PBF Energy (PBF) earnings time is at Apr 30, 2026, Before Open (Confirmed).

Where can I see when companies are reporting earnings?

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What is PBF EPS forecast?

PBF EPS forecast for the fiscal quarter 2026 (Q1) is -0.58.