PBF Energy Inc - Class A PBF Stock Analysis

About PBF Energy Inc - Class A

PBF Energy Inc. is one of the largest independent refiners in North America, operating, through its subsidiaries, oil refineries and related facilities in California, Delaware, Louisiana, New Jersey, and Ohio. Our mission is to operate our facilities in a safe, reliable and environmentally responsible manner, provide employees with a safe and rewarding workplace, become a positive influence in the communities where we do business, and provide superior returns to our investors. PBF Energy is also a 50% partner in the St. Bernard Renewables joint venture focused on the production of next generation sustainable fuels. Contacts: Colin Murray (investors) [email protected] Tel: 973.455.7578 Michael C. Karlovich (media) [email protected] Tel: 973.455.8994 PBF ENERGY INC. AND SUBSIDIARIES EARNINGS RELEASE TABLES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited, in millions, except share and per share data) Three Months Ended Nine Months Ended September 30, September 30, 2026 2025 2026 2025 Revenues $ 12,132.8 $ 7,651.1 $ 31,715.4 $ 22,192.8 Cost and expenses: Cost of products and other 9,107.6 6,839.3 25,591.4 20,170.1 Operating expenses (excluding depreciation and amortization expense as reflected below) 688.0 613.5 2,047.0 1,977.0 Depreciation and amortization expense 166.5 159.1 481.0 484.7 Cost of sales 9,962.1 7,611.9 28,119.4 22,631.8 General and administrative expenses (excluding depreciation and amortization expense as reflected below) 127.4 74.0 365.6 224.7 Depreciation and amortization expense 4.1 3.6 11.5 10.8 Gain on insurance recoveries, net — (250.0) (356.5) (439.0) Equity (income) loss in investee (62.4) 19.7 (98.2) 41.0 Loss (gain) on sale of assets 0.7 (94.0) 1.0 (94.2) Total cost and expenses 10,031.9 7,365.2 28,042.8 22,375.1 Income (loss) from operations 2,100.9 285.9 3,672.6 (182.3) Other income (expense): Interest expense (net of interest income of $16.6, $8.6, $28.1 and $17.2, respectively) (27.2) (50.3) (111.3) (141.0) Loss on extinguishment of debt (28.0) — (30.2) — Other non-service components of net periodic benefit cost 1.4 0.4 3.7 1.0 Income (loss) before income taxes 2,047.1 236.0 3,534.8 (322.3) Income tax expense (benefit) 503.8 64.3 876.3 (82.7) Net income (loss) 1,543.3 171.7 2,658.5 (239.6) Less: net income (loss) attributable to noncontrolling interest 14.0 1.6 24.5 (2.7) Net income (loss) attributable to PBF Energy Inc. stockholders $ 1,529.3 $ 170.1 $ 2,634.0 $ (236.9) Net income (loss) available to Class A common stock per share: Basic $ 12.73 $ 1.47 $ 22.21 $ (2.08) Diluted $ 12.54 $ 1.45 $ 21.82 $ (2.08) Weighted-average shares outstanding-basic 120,131,825 115,734,251 118,575,273 113,845,472 Weighted-average shares outstanding-diluted 122,756,464 117,958,349 121,541,269 114,708,252 Dividends per common share $ 0.275 $ 0.275 $ 0.825 $ 0.825 Adjusted fully-converted net income (loss) and adjusted fully-converted net income (loss) per fully exchanged, fully diluted shares outstanding (Note 1): Adjusted fully-converted net income (loss) $ 1,539.7 $ 171.3 $ 2,652.2 $ (238.9) Adjusted fully-converted net income (loss) per fully exchanged, fully diluted share $ 12.54 $ 1.45 $ 21.82 $ (2.08) Adjusted fully-converted shares outstanding - diluted (Note 6) 122,756,464 117,958,349 121,541,269 114,708,252 See Footnotes to Earnings Release Tables PBF ENERGY INC. AND SUBSIDIARIES RECONCILIATION OF AMOUNTS REPORTED UNDER U.S. GAAP (Unaudited, in millions, except share and per share data) RECONCILIATION OF NET INCOME (LOSS) TO ADJUSTED FULLY-CONVERTED NET INCOME (LOSS) AND ADJUSTED FULLY-CONVERTED NET INCOME (LOSS) EXCLUDING SPECIAL ITEMS (Note 1) Three Months Ended Nine Months Ended September 30, September 30, 2026 2025 2026 2025 Net income (loss) attributable to PBF Energy Inc. stockholders $ 1,529.3 $ 170.1 $ 2,634.0 $ (236.9) Less: Income allocated to participating securities — — 0.1 — Income (loss) available to PBF Energy Inc. stockholders - basic 1,529.3 170.1 2,633.9 (236.9) Add: Net income…