PBF Energy Inc (PBF) saw its stock soar 5.13% in intraday trading on Thursday following the release of its third-quarter 2025 results, which surpassed analyst expectations on several key metrics. The company reported a smaller-than-expected adjusted loss per share and higher-than-anticipated revenue, signaling a potential turnaround in the challenging refining sector.

The oil refiner posted an adjusted loss of $0.52 per share for Q3, beating the analyst consensus estimate of a $0.67 loss. This marks a significant improvement from the $1.50 per share loss reported in the same period last year. Revenue for the quarter came in at $7.65 billion, surpassing the estimated $7.47 billion, despite an 8.7% year-over-year decline. The company's gross refining margin improved to $9 per barrel, up from $6.79 per barrel a year ago, reflecting the broader recovery in U.S. refining margins.

Contributing to the positive sentiment were insurance recoveries related to the Martinez Refinery fire, which significantly boosted net income. PBF Energy reported a net income of $171.7 million for the quarter, with total insurance proceeds reaching about $500 million to date. The company expects the costs of rebuilding and restoring the Martinez Refinery to full operational status will be largely covered by property insurance. Additionally, PBF Energy declared a quarterly dividend of $0.275 per share, maintaining its commitment to shareholder returns despite the challenging environment. The company's ability to navigate operational challenges while benefiting from improving market conditions has clearly resonated with investors, driving the stock's impressive intraday gain.