PBF Swings to Q1 2026 Profit as Throughput, Margins Rise

SECAUCUS, NJ (DTN) – PBF Energy announced Thursday (4/30) a net operational income of $299.6 million for the first quarter of 2026 versus a loss of $511.2 million in the year-ago period, driven by higher refining throughput and margins.

PBF also reported:

• Refinery throughput at 844,200 bpd in the first quarter of this year, above 730,400 bpd in the same quarter of 2025, with gasoline representing 46% of total throughput, followed by distillate at 34%, while feedstocks and other products accounted for the balance.
• Expected throughput in the second quarter is between 850,000 and 910,000 bpd. This comprises 290,000 to 300,000 bpd at East Coast refineries; 145,000 to 150,000 bpd in the Midcontinent; 175,000 to 185,000 bpd at Gulf Coast facilities, and 250,000 to 270,000 bpd along the West Coast.
• Renewable diesel production reached 16,700 bpd in the first quarter and is expected to average approximately 15,000 to 16,000 bpd in the second quarter.
• Gross refining margin of throughput in the first quarter was $9.53 bbl vs $5.96 year-ago period. Consolidated refining margin of throughput in the first quarter was $3.66 bbl versus a negative $6.39 bbl in the year-ago period.
• Martinez refinery units are restarting following construction after a February 2025 fire. The facility expected to reach full operational status by early May.