PBF Energy Q2 revenue beats analyst estimates
PBF•Outlook
- PBF Energy expects RBI program run-rate cost improvements to exceed $350 mln by year-end 2026
- Company reduces 2026 capital expenditure guidance to $825-$875 mln, excluding Martinez rebuild costs
- PBF Energy expects Q3 2026 total throughput between 900,000 and 960,000 barrels per day
Overview
- U.S. oil refiner's Q2 revenue rose and beat analyst expectations
- Adjusted net income for Q2 beat analyst expectations
- Martinez refinery returned to full operations in May after fire repairs
Key details
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Revenue | Beat | $11.68 bln | $9.82 bln (10 Analysts) |
| Q2 Adjusted EPS | $6.22 | ||
| Q2 Adjusted Net Income | Beat | $753.10 mln | $476.34 mln (9 Analysts) |
| Q2 Net Income | $915 mln | ||
| Q2 Dividend | $0.28 | ||
| Q2 Operating Income | $1.27 bln | ||
| Q2 Pretax Profit | $1.23 bln |
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 10 "hold" and 3 "sell" or "strong sell". The average consensus recommendation for the oil & gas refining and marketing peer group is "buy." Wall Street's median 12-month price target for PBF Energy Inc is $57.00, about 10% below its July 29 closing price of $63.35. The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 11 three months ago.
