PBF Energy Inc (PBF) shares plunged 5.16% in pre-market trading following the release of its second-quarter 2025 financial results. The independent petroleum refiner and supplier reported disappointing earnings that fell short of analysts' expectations, triggering a selloff among investors.
The company posted a net loss of $5.4 million for the quarter, a significant downturn from the previous year. Adjusted earnings per share came in at $(1.03), missing the analyst consensus estimate of $(0.98) by 4.78%. While quarterly revenue of $7.47 billion surpassed expectations of $7.08 billion, it still represented a 14.43% decrease compared to the $8.74 billion reported in the same period last year.
Despite the negative results, PBF Energy announced some positive developments. The company has entered an agreement to sell two refined product terminal facilities for $175 million, potentially boosting its liquidity. Additionally, PBF Energy has partially restored operations at its Martinez Refinery and expects cost savings of $200 million by year-end 2025, increasing to $350 million by the end of 2026. However, these initiatives were not enough to offset investor concerns about the company's current financial performance, leading to the sharp pre-market decline.
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