Overview
U.S. refiner's Q4 revenue slightly beat analyst expectations
Adjusted net income for Q4 beat estimates, showing improvement from last year's losses
Martinez refinery restart on schedule, expected to enhance future operations
Outlook
PBF Energy expects $350 mln in cost improvements by year-end 2026 from RBI program
Company plans extensive maintenance and turnarounds in 2026 across refining system
Renewable diesel production expected to average 16,000-18,000 barrels per day in Q1 2026
Result Drivers
MARTINEZ REFINERY - Restart on schedule, expected to enhance future operations
COST EFFICIENCIES - Pursued efficiencies across the company, improving cost structure
INSURANCE RECOVERIES - Gains from insurance recoveries related to Martinez refinery fire boosted net income
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q4 Revenue | Slight Beat* | $7.14 bln | $7.10 bln (9 Analysts) |
Q4 Adjusted Net Income | Beat | $57.80 mln | -$9.43 mln (10 Analysts) |
Q4 Net Income | $79.10 mln | ||
Q4 Dividend | $0.28 | ||
Q4 Operating Income | $128 mln | ||
Q4 Pretax Profit | $87.70 mln |
*Applies to a deviation of less than 1%; not applicable for per-share numbers.
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 7 "hold" and 5 "sell" or "strong sell"
The average consensus recommendation for the oil & gas refining and marketing peer group is "buy."
Wall Street's median 12-month price target for PBF Energy Inc is $32.00, about 10.5% below its February 11 closing price of $35.77
Press Release: ID:nPn5njYtWa
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)