Blue Dolphin Energy Company (OTCQX:BDCO) reported its Q1 2025 financial results. The company posted net income of $2.2 million ($0.15 per share) and total gross profit of $6.1 million. Consolidated EBITDA was $5.1 million, with Refining EBITDA at $4.9 million. However, these results show a significant decline from Q1 2024, which saw net income of $6.6 million ($0.44 per share) and gross profit of $11.2 million. The company's liquidity improved with cash and cash equivalents reaching $2.3 million as of March 31, 2025, up from $1.1 million at year-end 2024. The working capital deficit improved by $4.6 million, decreasing to $14.5 million from $19.1 million in December 2024.
Blue Dolphin Energy Company (OTCQX:BDCO) ha comunicato i risultati finanziari del primo trimestre 2025. La società ha registrato un utile netto di 2,2 milioni di dollari (0,15 dollari per azione) e un utile lordo totale di 6,1 milioni di dollari. L'EBITDA consolidato è stato di 5,1 milioni di dollari, con l'EBITDA della raffinazione pari a 4,9 milioni di dollari. Tuttavia, questi risultati mostrano un calo significativo rispetto al primo trimestre 2024, che aveva registrato un utile netto di 6,6 milioni di dollari (0,44 dollari per azione) e un utile lordo di 11,2 milioni di dollari. La liquidità dell'azienda è migliorata, con disponibilità liquide e equivalenti che hanno raggiunto 2,3 milioni di dollari al 31 marzo 2025, rispetto a 1,1 milioni di dollari alla fine del 2024. Il deficit di capitale circolante è migliorato di 4,6 milioni di dollari, riducendosi a 14,5 milioni di dollari da 19,1 milioni di dollari a dicembre 2024.
Blue Dolphin Energy Company (OTCQX:BDCO) informó sus resultados financieros del primer trimestre de 2025. La compañía reportó un ingreso neto de 2,2 millones de dólares (0,15 dólares por acción) y una ganancia bruta total de 6,1 millones de dólares. El EBITDA consolidado fue de 5,1 millones de dólares, con un EBITDA de refinación de 4,9 millones de dólares. Sin embargo, estos resultados muestran un descenso significativo en comparación con el primer trimestre de 2024, cuando el ingreso neto fue de 6,6 millones de dólares (0,44 dólares por acción) y la ganancia bruta de 11,2 millones de dólares. La liquidez de la empresa mejoró, con efectivo y equivalentes de efectivo alcanzando 2,3 millones de dólares al 31 de marzo de 2025, frente a 1,1 millones al cierre de 2024. El déficit de capital de trabajo mejoró en 4,6 millones de dólares, disminuyendo a 14,5 millones desde 19,1 millones en diciembre de 2024.
Blue Dolphin Energy Company (OTCQX:BDCO)는 2025년 1분기 재무 실적을 발표했습니다. 회사는 순이익 220만 달러(주당 0.15달러)와 총 총이익 610만 달러를 기록했습니다. 연결 EBITDA는 510만 달러였으며, 정제 부문 EBITDA는 490만 달러였습니다. 그러나 이 결과는 2024년 1분기의 순이익 660만 달러(주당 0.44달러)와 총이익 1,120만 달러에 비해 크게 감소한 수치입니다. 회사의 유동성은 개선되어 2025년 3월 31일 기준 현금 및 현금성 자산이 230만 달러에 달했으며, 이는 2024년 말 110만 달러에서 증가한 수치입니다. 운전자본 적자는 460만 달러 개선되어 2024년 12월 1,910만 달러에서 1,450만 달러로 감소했습니다.
Blue Dolphin Energy Company (OTCQX:BDCO) a publié ses résultats financiers du premier trimestre 2025. La société a enregistré un bénéfice net de 2,2 millions de dollars (0,15 dollar par action) et un bénéfice brut total de 6,1 millions de dollars. L'EBITDA consolidé s'est élevé à 5,1 millions de dollars, avec un EBITDA de raffinage de 4,9 millions de dollars. Toutefois, ces résultats représentent une baisse significative par rapport au premier trimestre 2024, qui avait affiché un bénéfice net de 6,6 millions de dollars (0,44 dollar par action) et un bénéfice brut de 11,2 millions de dollars. La liquidité de l'entreprise s'est améliorée, avec une trésorerie et des équivalents de trésorerie atteignant 2,3 millions de dollars au 31 mars 2025, contre 1,1 million à la fin de l'année 2024. Le déficit de fonds de roulement s'est amélioré de 4,6 millions de dollars, passant de 19,1 millions en décembre 2024 à 14,5 millions.
Blue Dolphin Energy Company (OTCQX:BDCO) veröffentlichte seine Finanzergebnisse für das erste Quartal 2025. Das Unternehmen erzielte einen Nettoertrag von 2,2 Millionen US-Dollar (0,15 US-Dollar pro Aktie) und einen Bruttogewinn von insgesamt 6,1 Millionen US-Dollar. Das konsolidierte EBITDA betrug 5,1 Millionen US-Dollar, wobei das Refining-EBITDA bei 4,9 Millionen US-Dollar lag. Diese Ergebnisse zeigen jedoch einen deutlichen Rückgang gegenüber dem ersten Quartal 2024, in dem ein Nettoertrag von 6,6 Millionen US-Dollar (0,44 US-Dollar pro Aktie) und ein Bruttogewinn von 11,2 Millionen US-Dollar erzielt wurden. Die Liquidität des Unternehmens verbesserte sich, wobei der Kassenbestand und Zahlungsmitteläquivalente zum 31. März 2025 auf 2,3 Millionen US-Dollar stiegen, nach 1,1 Millionen US-Dollar zum Jahresende 2024. Das Nettoumlaufvermögen verbesserte sich um 4,6 Millionen US-Dollar und verringerte sich von 19,1 Millionen US-Dollar im Dezember 2024 auf 14,5 Millionen US-Dollar.
Positive
Working capital deficit improved by $4.6 million to $14.5 million
Cash position strengthened to $2.3 million, up from $1.1 million at year-end 2024
Maintained profitability with $2.2 million net income despite challenging conditions
Negative
Net income decreased 66% year-over-year from $6.6M to $2.2M
Earnings per share declined from $0.44 to $0.15 compared to Q1 2024
Total revenue dropped from $91.0M to $83.7M year-over-year
Consolidated EBITDA decreased by 52% from $10.5M to $5.1M
● Net income of $2.2 million, or $0.15 per share.
● Total gross profit of $6.1 million.
● Consolidated earnings before interest, income taxes, depreciation, and amortization ("EBITDA") of $5.1 million.
● Refining EBITDA of $4.9 million.
HOUSTON, TX / ACCESS Newswire / May 15, 2025 / Blue Dolphin Energy Company ("Blue Dolphin") (OTCQX:BDCO), an independent refiner and marketer of petroleum products in the Eagle Ford Shale region, announced its financial results for the three months ended March 31, 2025.
Results of Operations
Blue Dolphin reported net income of $2.2 million, or $0.15 per share, and total gross profit of $6.1 million for the first quarter of 2025. Comparatively, Blue Dolphin reported net income of $6.6 million, or $0.44 per share, and total gross profit of $11.2 million for the first quarter of 2024. Consolidated EBITDA totaled $5.1 million for the three months ended March 31, 2025 compared to $10.5 million for the three months ended March 31, 2024. Refining EBITDA totaled $4.9 million for the three months ended March 31, 2025 compared to $10.2 million for the three months ended March 31, 2024.
"Blue Dolphin effectively captured positive refining margins in the first quarter of 2025," said Jonathan P. Carroll, Chief Executive Officer of Blue Dolphin Energy Company. "While the current macroeconomic environment remains cloudy and volatile, we will continue to focus on the fundamentals - optimizing operations through maintenance activities, product slate selections, and cost vigilance - to maximize refining margins."
Liquidity and Working Capital
As of March 31, 2025, Blue Dolphin had $2.3 million of cash and cash equivalents and restricted cash compared to $1.1 million at December 31, 2024, representing an increase of $1.2 million. Blue Dolphin had a working capital deficit of $14.5 million as of March 31, 2025 compared to a working capital deficit of $19.1 million as of December 31, 2024, representing an improvement of $4.6 million.
For more information regarding Blue Dolphin's financial results for the three months ended March 31, 2025, see Blue Dolphin's Quarterly Report on Form 10-Q as filed with the Securities and Exchange Commission on May 15, 2025.
Blue Dolphin Energy Company and Subsidiaries Earnings Release Tables
Condensed Consolidated Statements of Income (Unaudited)
Three Months Ended March 31,
2025
2024
(in thousands, except per-share amounts)
Total revenue from operations
$
83,692
$
91,022
Total cost of goods sold
77,619
79,834
Gross profit
6,073
11,188
LEH operating fee, related party
182
172
Other operating expenses
119
140
General and administrative expenses
1,355
983
Depreciation and amortization
74
62
Interest, net
1,464
1,366
Total cost and expenses
3,194
2,723
Income before income taxes
2,879
8,465
Income tax expense
(635
)
(1,841
)
Net income
$
2,244
$
6,624
Income per common share
Basic
$
0.15
$
0.44
Diluted
$
0.15
$
0.44
Reconciliation of Certain Non-U.S. GAAP Measures (Unaudited)
Three Months Ended March 31,
2025
2024
Refinery Operations
Tolling & Terminaling
Corporate & Other
Total
Refinery Operations
Tolling & Terminaling
Corporate & Other
Total
(in thousands)
Income (loss) before income taxes
$
3,789
$
362
$
(1,272
)
$
2,879
$
9,186
$
340
$
(1,061
)
$
8,465
Add: depreciation and amortization
298
342
74
714
301
341
62
704
Add: interest, net
836
477
151
1,464
734
496
136
1,366
EBITDA
$
4,923
$
1,181
$
(1,047
)
$
5,057
$
10,221
$
1,177
$
(863
)
$
10,535
About Blue Dolphin
Blue Dolphin is an independent downstream energy company operating in the Gulf Coast region of the United States. Subsidiaries operate a light, sweet-crude, 15,000-bpd crude distillation tower with over 1.25 million bbls of petroleum storage tank capacity in Nixon, Texas. Blue Dolphin formed in 1986 as a Delaware corporation and trades on the OTCQX under the ticker symbol "BDCO." For additional information, visit Blue Dolphin's corporate website at http://www.blue-dolphin-energy.com.
Contact: Jonathan P. Carroll Chief Executive Officer and President 713-568-4725
Cautionary Statements Relevant to Forward-Looking Information for the Purpose of "Safe Harbor" Provisions of the Private Securities Litigation Reform Act of 1995. This press release contains forward-looking statements relating to Blue Dolphin's operations based on management's current expectations, estimates, and projections about the oil and gas industry. Words or phrases such as "anticipates,""expects,""intends,""plans,""targets,""advances,""commits,""drives,""aims,""forecasts,""projects,""believes,""approaches,""seeks,""schedules,""estimates,""positions,""pursue,""may,""can,""could,""should,""will,""budgets,""outlook,""trends,""guidance,""focus,""on track,""goals,""objectives,""strategies,""opportunities,""poised,""potential,""ambitions,""aspires" and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties, and other factors, many of which are beyond the company's control and are difficult to predict. Therefore, actual outcomes and results may differ materially from those expressed or forecasted in such forward-looking statements. The reader should not rely on these forward-looking statements, which speak only as of the date of this press release. Unless legally required, Blue Dolphin undertakes no obligation to update publicly any forward-looking statements, whether because of new information, future events, or otherwise.
For a discussion of risk factors that could cause actual results to differ materially from those in the forward-looking statements, please see the factors set forth under the heading "Risk Factors" in Blue Dolphin's 2024 Annual Report on Form 10-K and in subsequent filings with the U.S. Securities and Exchange Commission. Other unpredictable or unknown factors not discussed in this press release could also adversely affect forward-looking statements.
What was Blue Dolphin Energy's (BDCO) earnings per share in Q1 2025?
Blue Dolphin Energy reported earnings of $0.15 per share in Q1 2025, down from $0.44 per share in Q1 2024.
How much was Blue Dolphin's (BDCO) net income for Q1 2025?
Blue Dolphin Energy reported net income of $2.2 million for Q1 2025, compared to $6.6 million in Q1 2024.
What was BDCO's cash position as of March 31, 2025?
Blue Dolphin had $2.3 million in cash and cash equivalents and restricted cash as of March 31, 2025, an increase from $1.1 million at December 31, 2024.
How did Blue Dolphin's working capital deficit change in Q1 2025?
Blue Dolphin's working capital deficit improved by $4.6 million, decreasing to $14.5 million as of March 31, 2025, from $19.1 million as of December 31, 2024.
What was Blue Dolphin's (BDCO) EBITDA in the first quarter of 2025?
Blue Dolphin reported consolidated EBITDA of $5.1 million and Refining EBITDA of $4.9 million for Q1 2025.
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