PBF Energy Shares Near Record Highs After $1.4 Billion Debt Reduction

Key Facts

1PBF Energy reduced net term debt by more than $1.40 billion in Q2 2026.

2The company targets more than $350.00 million in annualized cost improvements by the end of 2026.

3PBF Energy lowered its 2026 capital spending guidance to $825M-$875M after deferring maintenance.

PBF Energy reduced net term debt by more than $1.40 billion during the second quarter of 2026. Financial Modeling Prep reported that the company repaid borrowings under its asset-backed lending facility and refinanced approximately $802.00 million in notes due in 2028, significantly strengthening its balance sheet.

PBF closed at $80.78 on October 2, 2026, with shares trading near record levels driven by improved refining margins. The company is targeting more than $350.00 million in annualized cost improvements by the end of 2026 and has lowered its full-year capital spending guidance to a range of $825 million to $875 million following the deferral of refinery maintenance.