PBF Energy (PBF) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and PBF Energy published the results on October 29, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. PBF Energy reports EPS two ways: GAAP, under the accounting rules every US filer follows, and adjusted fully-converted, excluding special items, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• The year-ago quarter included a $250.0 million gain on insurance recoveries tied to the Martinez refinery fire and a $94.0 million gain on the sale of terminal assets. PBF's adjusted figures exclude both, which is why its year-ago adjusted EPS is a loss of $0.52 while GAAP diluted EPS was $1.45.
• PBF's adjusted EPS assumes all PBF Energy Company LLC Series A units are exchanged into Class A shares. In Q3 2026 it excludes special items that reduced net income by $28.9 million after tax, mainly a loss on extinguishing debt and costs of the Refinery Business Improvement initiative.

Source: PBF Energy Q3 2026 results, October 29, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How PBF Energy splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• PBF Energy's Refining revenue was $12.1 billion in Q3 2026, up 59% from $7.6 billion in Q3 2025, 100% of total revenue.
• PBF Energy's Logistics revenue was $93.9 million in Q3 2026, down 4% from $97.5 million in Q3 2025, under 1% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

In its Q3 2026 release, PBF Energy said:

“As a result of the changes to our initial plan, our guidance for 2026 capital expenditures remains $825-$875 million for the year, excluding capital related to the Martinez rebuild.”

“Renewable diesel production for the fourth quarter is expected to average approximately 18,000 to 20,000 barrels per day.”

“In 2025, the RBI program generated in excess of $230 million of run-rate cost improvements and that total is expected to grow to more than $350 million of run-rate cost improvements by year-end 2026.”

Source: PBF Energy Q3 2026 release, Oct 29, 2026.

This is the company's own guidance as of Oct 29, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the PBF forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP revenues and diluted EPS, each as first reported in that quarter's release.

We do not hold a confirmed date for PBF Energy's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Oct 29, 2026

PBF Energy's revenue is almost entirely the sale of refined fuels from its six refineries in Delaware City, Paulsboro, Toledo, Chalmette, Torrance and Martinez, which have combined throughput capacity of approximately 1,000,000 bpd. In Q3 2026 the Refining segment brought in $12,127.7 million of the $12,132.8 million total, and Logistics $93.9 million before eliminations. (PBF Energy Form 10-K, 2025, Feb 12, 2026; PBF Energy Q3 2026 release, Oct 29, 2026)

PBF's 10-Q says revenues increased approximately $4.4 billion and revenues per barrel rose to $134.11 from $81.39, an increase it says was directly related to higher hydrocarbon commodity prices. Dated Brent crude averaged $97.24 a barrel in the quarter, against $69.17 a year earlier. (PBF Energy Form 10-Q, Q3 2026, Oct 29, 2026; PBF Energy Q3 2026 release, Oct 29, 2026)

PBF's crude oil and feedstocks throughput averaged 923.8 thousand bpd, against 871.0 thousand bpd. The West Coast system, where the Martinez refinery returned to full operations in May 2026, ran 293.1 thousand bpd against 234.0 thousand bpd. East Coast throughput fell to 293.8 thousand bpd from 307.8 thousand bpd, and Mid-Continent rose to 156.4 thousand bpd. (PBF Energy Q3 2026 release, Oct 29, 2026)

PBF's gross refining margin excluding special items was $34.56 per barrel of throughput, against $9.00 a year earlier, as crack spreads such as the Dated Brent (NYH) 2-1-1 rose to $64.77 from $25.82. Refining operating expense was $7.80 per barrel. (PBF Energy Q3 2026 release, Oct 29, 2026)

PBF Energy's GAAP diluted EPS was $12.54 in Q3 2026, against $1.45, on net income attributable to PBF of $1,529.3 million. Its adjusted fully-converted EPS excluding special items was $12.78; the $28.9 million after-tax of special items it excludes were mainly a loss on extinguishment of debt from redeeming the 2030 7.875% Senior Notes and costs related to the RBI initiative. (PBF Energy Q3 2026 release, Oct 29, 2026)

PBF's Q3 2025 GAAP results included a $250.0 million gain on insurance recoveries from the Martinez fire and a $94.0 million gain on sale of terminal assets; excluding special items, PBF had an adjusted loss of $0.52 a share. Income tax expense was $503.8 million in Q3 2026, and PBF says its effective tax rate did not materially differ from the U.S. statutory rate including state taxes. (PBF Energy Q3 2026 release, Oct 29, 2026; PBF Energy Form 10-Q, Q3 2026, Oct 29, 2026)

Diluted weighted average shares rose to 122,756,464 from 117,958,349. PBF ended the quarter with $2,544.3 million of cash and $2,118.4 million of total debt, after issuing $550 million of 0% Exchangeable Notes due 2032 to redeem $500 million of 7.875% notes. After the quarter it repaid the remaining $800 million of 9.875% Senior Unsecured Notes due 2030 with cash on hand. (PBF Energy Q3 2026 release, Oct 29, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

PBF Energy gives operating guidance in its release, not an earnings forecast. For Q4 2026 it expects total throughput of 925,000 to 985,000 barrels per day, including 290,000 to 310,000 on the West Coast and 300,000 to 320,000 on the East Coast, and renewable diesel production of approximately 18,000 to 20,000 barrels per day at St. Bernard Renewables. Its 2026 capital expenditure guidance remains $825-$875 million, excluding the Martinez rebuild. (PBF Energy Q3 2026 release, Oct 29, 2026)

PBF moved the planned fourth-quarter turnarounds at Chalmette and Toledo to 2027; the Martinez and Paulsboro turnarounds started in September and finished in October. It expects RBI run-rate cost improvements to exceed $350 million by year-end 2026 and to finalize the Martinez insurance claim before year-end 2026, with $1.25 billion of insurance proceeds paid to date. (PBF Energy Q3 2026 release, Oct 29, 2026)

A consensus figure is the average of the models published by the analysts who cover PBF Energy, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones PBF Energy's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning PBF is on is PBF a buy or a sell?, what analysts expect next is on the PBF forecast, and what the company does is on the PBF Energy (PBF) stock page.

Every number on this page can be traced to a document PBF Energy published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.