PBF Energy Inc. has reported its financial results for the fourth quarter and full year 2025, presenting a mixed picture. The company's income from operations for the fourth quarter of 2025 was $128.0 million, a significant improvement compared to a loss from operations of $383.2 million in the same period of 2024. Excluding special items, income from operations for the fourth quarter of 2025 was $99.4 million, marking a positive turnaround from a loss of $427.9 million in the prior year's fourth quarter.
The net income for the fourth quarter of 2025 was $79.1 million, with attributable net income to PBF Energy Inc. of $78.4 million or $0.66 per share. This is a substantial improvement from a net loss of $292.6 million and attributable net loss of $289.3 million or $(2.54) per share for the same period in 2024.
For the full year 2025, the company reported a loss from operations of $54.3 million, which is a notable improvement from a loss of $699.0 million in 2024. Excluding special items, the loss from operations for 2025 was $479.5 million, compared to a loss of $588.0 million in 2024.
The company declared a quarterly dividend of $0.275 per share of class A common stock, indicating a commitment to returning value to shareholders.
The Martinez refinery, which experienced an incident in February 2025, is undergoing construction activities and is expected to be fully operational soon. The company anticipates that the fire-related cost of restoring the refinery to full operational status will be largely covered by insurance, subject to deductibles and retentions totaling $30 million.
PBF Energy's president and chief executive officer, Matthew Lucey, emphasized the challenges and opportunities faced in 2025, highlighting the unexpected downtime at the Martinez refinery and the company's efforts to pursue efficiencies and cost improvements.
Looking ahead, the company provided guidance for 2026, emphasizing its commitment to running assets in a safe, reliable, and environmentally responsible manner. It also outlined plans for extensive maintenance and multiple turnarounds across its refining system.
In terms of renewable diesel production, PBF Energy reported an average production of approximately 16,700 barrels per day in the fourth quarter of 2025, with expectations for production to average approximately 16,000 to 18,000 barrels per day in the first quarter of 2026.
Following these announcements, the company's shares moved -5.32%, and are now trading at a price of $29.53. If you want to know more, read the company's complete 8-K report here.
