PBF Energy Inc. Reports Narrower Q2 Loss, Declines in Revenue

PBF Energy Inc., an independent petroleum refiner and supplier based in the United States, has reported a narrower-than-expected loss for the second quarter of 2025. Despite this improvement in losses, the company experienced a year-over-year decline in revenues. The company’s stock, traded on the New York Stock Exchange, closed at $22.6 on July 30, 2025, with a market capitalization of $2.7 billion.

Financial Performance Overview

In the second quarter of 2025, PBF Energy’s revenues fell by 14% compared to the previous year. However, the company’s non-GAAP earnings per share (EPS) of $(1.03) exceeded analyst estimates by $0.23, despite a wider loss compared to the prior year. The GAAP EPS of -$0.05 also surpassed expectations by $0.04, with revenues of $7.48 billion beating forecasts by $870 million.

Operational Updates

PBF Energy has signaled plans to fully restart its Martinez refinery by the end of 2025. This initiative is part of a broader $350 million cost savings program aimed at enhancing operational efficiency. The company has also made progress in restoring partial operations at the Martinez refinery, contributing to a second quarter income from operations of $43.0 million, excluding special items. This figure contrasts with a loss from operations of $110.0 million when special items are included.

Dividend Declaration

In addition to its operational updates, PBF Energy announced a quarterly dividend of $0.275 per share for the second quarter of 2025. This declaration underscores the company’s commitment to returning value to its shareholders despite the challenging financial landscape.

Market Context

The company’s stock has experienced significant volatility over the past year, with a 52-week high of $37.99 on August 11, 2024, and a low of $13.62 on April 6, 2025. The current price-to-earnings ratio stands at -2.395, reflecting the company’s ongoing financial challenges.

PBF Energy continues to operate through long-term offtake and supply agreements, offering a range of products including unbranded transportation fuels, heating oil, petrochemical feedstocks, and lubricants. For more detailed information, stakeholders are encouraged to visit the company’s website at www.pbfenergy.com .