PBF: revenue $7.90B, net income $198.3M. PBF Energy returns to profit as Martinez refinery restarts, but faces tariff uncertainty

Filed April 30, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 1, 2025 · ~1 min read

Key Changes

• high

  Martinez refinery fire investigation escalates with 22 Notices of Violation issued by regulators, signaling broader alleged compliance failures and potentially higher penalty exposure than previously disclosed.

  Legal Proceedings: Martinez Fire verify on EDGAR →
• high

  Q1 2026 net income of $198M ($1.65/share) reverses prior-year $402M loss, driven by Martinez restart, 56-74% higher crack spreads across regions, and $313M inventory gain reversal.

  MD&A: Financial Results verify on EDGAR →
• high

  RFS compliance costs more than doubled to $278M from $120M year-over-year due to newly finalized EPA requirements and higher RIN prices, offsetting margin gains.

  MD&A: RFS Compliance verify on EDGAR →