)
PBF Energy (PBF) investor relations material
PBF Energy Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Martinez refinery reconstruction is nearly complete, with full operations expected in early March 2026, positioning the company to benefit from a tighter California product market and improved crude supply dynamics.
Q4 2025 results showed sequential improvement, with income from operations of $128.0 million, reversing a prior year loss, and adjusted net income of $0.49 per share.
Achieved $230 million in annualized run rate savings from the RBI program, with $350 million targeted by year-end 2026.
Net income for Q4 2025 was $79.1 million ($0.66 per share), compared to a net loss of $292.6 million in Q4 2024.
Quarterly dividend of $0.275 per share declared; $126 million paid in dividends in 2025.
Financial highlights
Adjusted net income for Q4 was $0.49 per share; Adjusted EBITDA reached $258 million, excluding special items.
Q4 included a $394 million gain from insurance recoveries related to the Martinez fire, bringing total 2025 insurance recoveries to $894 million.
Revenues for Q4 2025 were $7,139.5 million; full year 2025 revenues were $29,332.3 million.
Cash and cash equivalents at year-end 2025 were $528 million; net debt was $1.6 billion.
EBITDA for Q4 2025 was $277.5 million.
Outlook and guidance
2026 market outlook is positive, supported by tight refining balances, demand growth, and favorable crude supply, especially with Venezuelan barrels entering the market.
RBI program generated over $230 million in run-rate cost improvements in 2025, with $350 million targeted by year-end 2026.
Q1 CapEx and working capital outflows anticipated due to Martinez restart and seasonal inventory patterns.
Planned major maintenance and turnarounds across the refining system in 2026, including Torrance (Q1) and Martinez (Q2).
Renewable diesel production expected at 16,000–18,000 bpd in Q1 2026.
Next PBF Energy earnings date
Next PBF Energy earnings date
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
I can't remember the last time an app had such a positive impact on my investment process.
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
I can't remember the last time an app had such a positive impact on my investment process.
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
Frequently asked questions
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Explore our global coverage
)
)