PBF Energy stock surged 6% due to higher oil prices, but company reported significant net loss.
From Yahoo Finance: 2025-06-18 07:05:00
PBF Energy Inc. (NYSE:PBF) surged 6.6% on Tuesday to $24.39 per share as oil prices rose. Brent crude prices increased by 4.4%, while WTI crude oil prices went up by 0.77%. The company expects to save over $200 million in annual cost savings by the end of 2025, with a capital expenditure of $750-775 million.
In the first quarter, PBF Energy reported a net loss of $401.8 million, a significant decline from the previous year’s net income of $106.6 million. Revenues also dropped by 18% to $7.07 billion. While PBF shows investment potential, other AI stocks may offer higher returns with less risk. The company is a major beneficiary of Trump tariffs and onshoring.