PBF

EX-99.1

2 a991pressreleaseq2-26.htm

EX-99.1

Document

PBF Energy Announces Second Quarter 2026 Results, Declares Dividend of $0.275 per Share

•Second quarter income from operations of $1,272.1 million (excluding special items, second quarter income from operations of $1,054.0 million)

•PBF reduced gross debt by over $1 billion in the second quarter

•Declared quarterly dividend of $0.275 per share

•PBF received a fifth unallocated installment of $250.0 million related to the Martinez refinery fire

•Martinez refinery restart completed in May 2026

PARSIPPANY, NJ - July 30, 2026 - PBF Energy Inc. (NYSE:PBF) today reported second quarter 2026 income from operations of $1,272.1 million as compared to income from operations of $43.0 million for the second quarter of 2025. Excluding special items, second quarter 2026 income from operations was $1,054.0 million as compared to loss from operations of $110.0 million for the second quarter of 2025.

The company reported second quarter 2026 net income of $915.0 million and net income attributable to PBF Energy Inc. of $906.4 million or $7.54 per share. This compares to net loss of $5.4 million and net loss attributable to PBF Energy Inc. of $5.2 million or $(0.05) per share for the second quarter 2025. Non-cash special items included in the second quarter 2026 results, which increased net income by a net, after-tax benefit of $159.8 million, or $1.32 per share, primarily consisted of gains on insurance recoveries associated with the February 1, 2025 fire at the Martinez refinery (the "Martinez refinery fire"), partially offset by expenses associated with the Martinez refinery fire, costs related to PBF's Refinery Business Improvement initiative ("RBI"), and loss on extinguishment of debt related to the redemption of the 6.00% senior unsecured notes due 2028. Adjusted fully-converted net income for the second quarter 2026, excluding special items, was $753.1 million, or $6.22 per share on a fully-exchanged, fully-diluted basis, as described below, compared to adjusted fully-converted net loss, excluding special items, of $118.5 million or $(1.03) per share, for the second quarter 2025.

Matt Lucey, PBF's President and CEO, said, “We are in a cyclical business with a volatile and ever-changing environment. During the second quarter, PBF delivered significant equity value through our net debt reduction of over $1.4 billion. We will continue to apply a rigorous capital allocation process including investing in our refineries to capitalize on market opportunities and strengthening our balance sheet to ensure we are maximizing value for our investors. The underlying fundamentals for refining remain incredibly strong with tight global supply and demand balances. PBF, with its coastal complexity, is ideally positioned to capture these opportunities and generate significant value for our investors.”

Mr. Lucey continued, “The Martinez refinery successfully returned to full operations in the second quarter and is once again supplying California with a full slate of much-needed, domestically-produced products. The team at Martinez worked tirelessly, conducting repairs as expeditiously as possible and, more importantly, cemented their tremendous efforts with a safe restart.” Mr. Lucey concluded, “Our primary objective, especially in the current environment, is to ensure that we remain focused on safe, reliable and responsible operations.”

PBF Energy Inc. Declares Dividend

The company announced today that it will pay a quarterly dividend of $0.275 per share of Class A common stock on August 28, 2026, to shareholders of record at the close of business on August 14, 2026.

Martinez Refinery Update

Following completion of the construction activities, the Martinez refinery returned to full operations in May 2026. Company and refinery management extend their thanks to all of the parties, internal and external, who worked for more than a year to return Martinez to full operations and, once again, to supplying Californian consumers with our full slate of products made in-state.

As previously disclosed, the company expects the fire-related cost of restoring the refinery to full operational status will largely be covered by insurance, subject to the company’s deductible and retentions totaling $30 million. Further, beyond the initial 60-day waiting period, the company expects that its business interruption insurance will significantly offset the financial loss resulting from the downtime through the restart of the refinery. This coverage commenced on April 3, 2025. In the second quarter, PBF's insurers paid a fifth, unallocated, installment of insurance proceeds of $250 million, totaling $1.25 billion of unallocated insurance reimbursements received to date, net of deductibles and retentions. The timing and amount of any agreed future payments will be dependent on the quantum of actual, covered expenditures and calculated losses. Working with our insurance group, PBF expects to fi

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pbf-202602120001534504FALSE000156601100015345042026-02-122026-02-120001534504pbf:PBFHoldingMember2026-02-122026-02-12

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of Earliest Event Reported): February 12, 2026

PBF ENERGY INC.

PBF HOLDING COMPANY LLC

(Exact Name of Registrant as Specified in its Charter) Delaware001-3576445-3763855 Delaware333-18600727-2198168 (State or other jurisdiction of incorporation or organization)(Commission File Number)(I.R.S. Employer Identification Number)

One Sylvan Way, Second Floor Parsippany, New Jersey 07054 (Address of the Principal Executive Offices) (Zip Code)

(973) 455-7500 (Registrant’s Telephone Number, including area code)

N/A (Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ⃞ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ⃞ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ⃞ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ⃞ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of The Act: Title of each classTrading SymbolName of each exchange on which registered Common Stock, par value $.001PBFNew York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12-b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter): o If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Item 2.02 - Results of Operations and Financial Condition. On February 12, 2026, PBF Energy Inc. (the “Company”) issued a press release announcing the Company's financial and operating results for the fourth quarter ended December 31, 2025, which include the operating results of its consolidated indirect subsidiary, PBF Holding Company LLC. A copy of the press release is furnished with this Current Report as Exhibit 99.1 and is incorporated herein by reference. The information in this Current Report is being “furnished” pursuant to Item 2.02 of Form 8-K, and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section. Accordingly, the information in Item 2.02 of this Current Report, including the press release (Exhibit 99.1), will not be incorporated by reference into any filing under the Securities Act of 1933, as amended, or under the Securities Exchange Act of 1934, as amended, unless specifically identified therein as being incorporated therein by reference. Item 9.01 - Financial Statements and Exhibits. (d) Exhibits Exhibit No.Description

99.1 Press release announcing fourth quarter results, dated February 12, 2026.

104Cover Page Interactive Data File (formatted as Inline XBRL).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrants have duly caused this report to be signed on their behalf by the undersigned hereunto duly authorized.

Date:February 12, 2026PBF Energy Inc. (Registrant)

By:/s/ Joseph Marino Name:Joseph Marino Title:Senior Vice President, Chief Financial Officer

Date:February 12, 2026PBF Holding Company LLC (Registrant)

By:/s/ Joseph Marino Name:Joseph Marino Title:Senior Vice President, Chief Financial Officer