Pbf Energy Inc Stock Price, News & Analysis

PBF Energy reported challenging Q1 2025 results with a loss from operations of $511.2 million, compared to income of $145.1 million in Q1 2024. The company faced significant challenges due to a fire incident at Martinez refinery on February 1, 2025, which has since restored partial operations. Key developments include: - Net loss of $405.9 million ($3.53 per share) vs. net income of $107.5 million in Q1 2024 - Declared quarterly dividend of $0.275 per share - Announced sale of terminal assets for $175 million - Received $250 million net insurance proceeds for Martinez incident - Expects >$200 million annual cost savings from Business Improvement initiative - Updated capital expenditure guidance to $750-775 million for 2025 - Martinez refinery operating at 85,000-105,000 barrels per day, full operations expected in Q4 2025

PBF Energy (NYSE:PBF) has scheduled the release of its first quarter 2025 earnings results for Thursday, May 1, 2025. The company will conduct a conference call and webcast to discuss the quarterly results and other business matters on the same day at 8:30 a.m. ET.

Interested parties can access the webcast through PBF Energy's website at pbfenergy.com. Additionally, participants can join via phone by dialing (800) 549-8228 or (646) 564-2877. An audio replay will be made available approximately two hours after the call's conclusion on the company's website.

PBF Energy (NYSE:PBF) has announced its upcoming participation in the Piper Sandler 25th Annual Energy Conference scheduled for March 18, 2025. The company's management team will be present at the event, representing one of the notable energy sector participants at this milestone conference.

Any presentation materials from the conference will be accessible to investors and interested parties through the Investor Relations section on PBF Energy's official website at www.pbfenergy.com.

PBF Energy (NYSE:PBF) has announced the pricing of an upsized $800 million senior notes offering through its indirect subsidiary, PBF Holding Company The notes, due 2030, carry a 9.875% interest rate and are priced at 98.563% of face value.

The offering, expected to close on March 17, 2025, will be co-issued by PBF Finance The proceeds will be used to repay outstanding borrowings under its asset-based revolving credit facility and for general corporate purposes. The notes will be offered privately to qualified institutional buyers under Rule 144A and to non-U.S. persons under Regulation S of the Securities Act.

PBF Energy (NYSE:PBF) has announced plans to offer $750 million in senior notes due 2030 through its indirect subsidiary, PBF Holding Company The notes will be co-issued by PBF Finance and offered in a private placement to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S.

The proceeds from this offering will be used to repay outstanding borrowings under the company's asset-based revolving credit facility and for general corporate purposes. The offering is subject to market conditions and will only be available to qualified investors through a private offering memorandum.

PBF Energy (NYSE: PBF) announced that Thomas J. Nimbley will retire from his position as Executive Chairman on June 30, 2025. Following his re-election at the company's 2025 Annual Meeting, he will transition to non-executive Chairman of the Board effective July 1, 2025.

Nimbley previously served as CEO from June 2010 to June 2023 before becoming Executive Chairman. Under his leadership, PBF Energy evolved from a startup to one of the largest independent refiners in the United States, operating six refineries with a combined throughput of approximately 1 million barrels per day.

Gene Edwards, PBF Energy's Lead Director, praised Nimbley's exemplary leadership and role in building a talented executive team. Matthew Lucey, current CEO and President, expressed gratitude for Nimbley's leadership and guidance, noting that the company will continue to benefit from his board leadership.

PBF Energy (NYSE: PBF) has announced plans to repair and restart its Martinez refinery in California following a fire on February 1, 2025. The 157,000 barrel-per-day facility will resume operations in two stages:

Stage 1 (early Q2 2025): Restart of crude unit with throughput of 85,000-105,000 barrels per day, producing gasoline, jet fuel, and intermediates.

Stage 2 (by Q4 2025): Restart of remaining units, including those scheduled for Q1 turnaround.

The repair costs are expected to be largely covered by insurance, with company deductibles and retentions totaling $30 million. Business interruption insurance should significantly offset financial losses from April 3, 2025, until full restoration, covering ongoing costs and potential lost margin opportunity.

PBF Energy (NYSE:PBF) has announced its upcoming participation in two major industry conferences in March 2025. The company's management team will attend the Raymond James Institutional Investor Conference on March 3-4, 2025, followed by the Wolfe Research Refining Conference on March 6, 2025.

Investors and stakeholders can access any presentation materials through the Investor Relations section on PBF Energy's official website at www.pbfenergy.com.

PBF Energy (NYSE:PBF) has announced its participation in the upcoming Scotiabank Global Energy Conference scheduled for February 26, 2025. Members of the company's management team will be present at the conference.

The company has confirmed that any presentation materials used during the conference will be accessible to investors through the Investor Relations section of PBF Energy's official website at www.pbfenergy.com.