PBF Energy reported Q2 adjusted earnings and revenue above expectations, driven by improved refining margins and full production at its Martinez refinery.
PBF Energy shares surged 15.4% to close at an all-time high of $74.74 after the company posted stronger-than-expected Q2 adjusted earnings and revenue. The gains were supported by expanded refining margins and the full return of its Martinez, California, refinery to production.
Analysts had anticipated weaker results, but PBF outperformed consensus estimates. The company’s refining segment benefited from improved crack spreads and operational efficiency, marking a sharp recovery from prior quarters.
The stock’s rally reflects investor confidence in refining sector resilience amid volatile energy markets.