PBF Energy Q1 adjusted EPS of -$0.88 missed expectations, but revenue $7.9bn beat consensus, up 12% YoY.
GAAP net income $1.65 per share driven by $313m inventory reversal and $106.5m insurance recoveries from Martinez fire.
Shares fell 7.07% as Martinez refinery restart lagged, with FCC unit expected early May and full rates thereafter.
Company guided Q2 throughput 850k‑910k bpd, expects >$350m cost savings by 2026 and declared $0.275 dividend.