PBF Energy gains on second-quarter profit beat

PBF Energy

30/07/2026 15:05

Updates
** Shares of U.S.-based refiner PBF Energy PBF.N up 11.2% to reach a record high of $70.47
** Posts adjusted earnings of $6.22 per share for the second quarter, above analysts' average estimate of $4.17 - LSEG data
** Crude oil and feedstock throughput increased to 887,300 barrels per day (bpd), from 839,100 bpd a year earlier
** Expects third-quarter throughput in the range of 900,000 to 960,000 bpd
** Third-quarter renewable diesel production is expected to average approximately 18,000 to 20,000 barrels per day
** PBF also benefited from the restart of its Martinez refinery in California
** "We believe the current refining environment remains constructive, with margins continuing to track above mid-cycle levels. PBF is well positioned to benefit from this backdrop and could accelerate its de-leveraging trajectory as cash flows strengthen"- UBS 
** Including session's moves, stock up 156.2% YTD

 (Reporting by Katha Kalia and Pranav Mathur in Bengaluru)
 ((Pranav.Mathur@thomsonreuters.com;))