PBF Energy Q3 2026: Six Straight Beats and a Dividend Hike
As seen on the 24/7 Wall St. homepage on October 29, 2026.
Gross refining margin excluding special items reached $34.56 per barrel, driving a sixth straight quarter of beating expectations. Management paired it with an 18% dividend increase.
Continue ReadingShow less
PBF Energy's third-quarter 2026 adjusted earnings per share of $12.78 beat expectations, the sixth straight quarter it has done so, as wider crack spreads lifted refining margins well above the year-ago period.
Gross refining margin climbed to $34.56 per barrel excluding special items, with the West Coast system driving the gain after Martinez returned to full operations in May 2026.
Sponsored
Management cut net debt by more than $1.2 billion in the quarter, redeemed high-coupon senior notes and raised the quarterly dividend 18%, signaling the earnings recovery has durability beyond a single strong cycle.
PBF guided fourth-quarter throughput of 925,000 to 985,000 barrels per day and says its cost-improvement program is on track. Watch the timing of Martinez insurance recoveries, rising RIN compliance costs, and turnarounds at Chalmette and Toledo deferred into 2027.
Mentioned: PBF