PBF Energy Inc (PBF) News & EventsPBFPBF Energy Inc

PBF Lowers 2026 Capital Expenditure Guidance to $825-$875 Million

The company said, "PBF's initial turnaround planning guidance for 2026 included five major turnarounds across our system. We completed the Torrance turnaround in the first quarter, and, after careful evaluation and safety inspections, we elected to move the scheduled Martinez second quarter hydrocracker complex turnaround to the end of the third quarter. Additionally, after further diligent review, we elected to move the planned fourth quarter turnarounds at both Chalmette and Toledo to 2027. During the second quarter, we performed unplanned work at Toledo which afforded us the opportunity to safely extend the run-time for our FCC complex. As a result, we are reducing our 2026 capital expenditure guidance to $825-$875 million for the year, excluding capital related to the Martinez rebuild."

PBF Energy Reports Q2 Revenue of $11.68B

Reports Q2 revenue $11.68B, consensus $9.81B. Matt Lucey, PBF's President and CEO, said, "We are in a cyclical business with a volatile and ever-changing environment. During the second quarter, PBF delivered significant equity value through our net debt reduction of over $1.4 billion. We will continue to apply a rigorous capital allocation process including investing in our refineries to capitalize on market opportunities and strengthening our balance sheet to ensure we are maximizing value for our investors. The underlying fundamentals for refining remain incredibly strong with tight global supply and demand balances. PBF, with its coastal complexity, is ideally positioned to capture these opportunities and generate significant value for our investors."

PBF Energy Stock Rises 6.3% to $56.51

PBF Energy is up 6.3%, or $3.33 to $56.51.