Blue Dolphin Reports Second Quarter 2026 Financial Results
Rhea-AI Summary
Blue Dolphin Energy (OTCQX:BDCO) reported strong results for the quarter ended June 30, 2026, with net income of $17.7 million, or $1.19 per share, versus a net loss of $1.7 million, or $(0.12) per share, a year earlier. Quarterly gross profit rose to $25.1 million from $0.6 million, and consolidated EBITDA increased to $24.4 million from $0.1 million.
For the first half of 2026, net income was $32.5 million, or $2.18 per share, compared to $0.5 million, or $0.03 per share, in 2025. Gross profit for the period was $45.7 million versus $6.6 million, and EBITDA was $45.1 million versus $5.1 million. Total revenue from operations reached $144.3 million for the quarter and $225.7 million year-to-date, compared to $56.6 million and $140.3 million, respectively. As of June 30, 2026, cash, cash equivalents, and restricted cash were $31.7 million, up from $2.0 million at December 31, 2025.
Positive
- Q2 2026 net income $17.7 million vs. $1.7 million loss in 2025
- Q2 2026 revenue $144.3 million vs. $56.6 million in Q2 2025
- Q2 2026 EBITDA $24.4 million vs. $0.1 million in Q2 2025
- H1 2026 net income $32.5 million vs. $0.5 million in H1 2025
- H1 2026 EBITDA $45.1 million vs. $5.1 million in H1 2025
- Cash and restricted cash $31.7 million at June 30, 2026 vs. $2.0 million at December 31, 2025
Negative
- None.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Total gross profit of
$25.1 million and$45.7 million for the three and six months ended June 30, 2026, respectivelyNet income of
$17.7 million , or$1.19 per share, and$32.5 million , or$2.18 per share, for the three and six months ended June 30, 2026, respectivelyConsolidated earnings before interest, income taxes, depreciation, and amortization ("EBITDA") of
$24.4 million and$45.1 million for the three and six months ended June 30, 2026, respectively
HOUSTON, TX / ACCESS Newswire / August 17, 2026 / 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 and six months ended June 30, 2026.
Results of Operations
Blue Dolphin reported net income of
Blue Dolphin reported net income of
See the tables below for a reconciliation of consolidated EBITDA.
"Blue Dolphin's disciplined operational execution within the continuing environment of geopolitical and market volatility drove strong financial results and significant cash generation in the second quarter and first half of 2026," said Jonathan P. Carroll, Chief Executive Officer of Blue Dolphin Energy Company.
Liquidity
As of June 30, 2026 Blue Dolphin had
For more information regarding Blue Dolphin's financial results for the three and six months ended June 30, 2026, see Blue Dolphin's Quarterly Report on Form 10-Q as filed with the U.S. Securities and Exchange Commission (the "SEC") on August 14, 2026.
Blue Dolphin Energy Company and Subsidiaries
Earnings Release Tables
Consolidated Results of Operations (Unaudited)
Three Months Ended | Six Months Ended | |||||||||||||||
2026 | 2025 | 2026 | 2025 | |||||||||||||
(in thousands, except per-share amounts) | (in thousands, except per-share amounts) | |||||||||||||||
Total revenue from operations | $ | 144,255 | $ | 56,583 | $ | 225,745 | $ | 140,275 | ||||||||
Total cost of goods sold | 119,155 | 56,033 | 180,075 | 133,652 | ||||||||||||
Gross profit | 25,100 | 550 | 45,670 | 6,623 | ||||||||||||
LEH operating fee, related party | 259 | 276 | 492 | 458 | ||||||||||||
Other operating expenses | 156 | 125 | 317 | 244 | ||||||||||||
General and administrative expenses | 885 | 704 | 2,057 | 2,059 | ||||||||||||
Gain on regulatory settlement | - | - | (1,013 | ) | - | |||||||||||
Depreciation and amortization | 74 | 74 | 148 | 148 | ||||||||||||
Interest, net | 1,123 | 1,552 | 2,505 | 3,016 | ||||||||||||
Total cost and expenses | 2,497 | 2,731 | 4,506 | 5,925 | ||||||||||||
Income (loss) before income taxes | 22,603 | (2,181 | ) | 41,164 | 698 | |||||||||||
Income tax benefit (expense) | (4,867 | ) | 459 | (8,698 | ) | (176 | ) | |||||||||
Net income(loss) | $ | 17,736 | $ | (1,722 | ) | $ | 32,466 | $ | 522 | |||||||
Income (loss) per common share | ||||||||||||||||
Basic | $ | 1.19 | $ | (0.12 | ) | $ | 2.18 | $ | 0.03 | |||||||
Diluted | $ | 1.19 | $ | (0.12 | ) | $ | 2.18 | $ | 0.03 | |||||||
Three Months Ended June 30, | |||||||||||||||||||||||||
2026 | 2025 | ||||||||||||||||||||||||
Refinery Operations | Tolling & Terminaling | Corporate & Other | Total | Refinery Operations | Tolling & Terminaling | Corporate & Other | Total | ||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||
Income (loss) before income taxes | $ | 22,906 | $ | 478 | $ | (781 | ) | $ | 22,603 | $ | (2,113 | ) | $ | 363 | $ | (431 | ) | $ | (2,181 | ) | |||||
Add: depreciation and amortization | 304 | 342 | 74 | 720 | 301 | 342 | 74 | 717 | |||||||||||||||||
Add: interest, net | 621 | 397 | 105 | 1,123 | 928 | 444 | 180 | 1,552 | |||||||||||||||||
EBITDA | $ | 23,831 | $ | 1,217 | $ | (602 | ) | $ | 24,446 | $ | (884 | ) | $ | 1,149 | $ | (177 | ) | $ | 88 | ||||||
Six Months Ended June 30, | |||||||||||||||||||||||||
2026 | 2025 | ||||||||||||||||||||||||
Refinery Operations | Tolling & Terminaling | Corporate & Other | Total | Refinery Operations | Tolling & Terminaling | Corporate & Other | Total | ||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||
Income (loss) before income taxes | $ | 40,962 | $ | 875 | $ | (673 | ) | $ | 41,164 | $ | 1,676 | $ | 725 | $ | (1,703 | ) | $ | 698 | |||||||
Add: depreciation and amortization | 608 | 683 | 148 | 1,439 | 599 | 684 | 148 | 1,431 | |||||||||||||||||
Add: interest, net | 1,475 | 811 | 219 | 2,505 | 1,764 | 921 | 331 | 3,016 | |||||||||||||||||
EBITDA | $ | 43,045 | $ | 2,369 | $ | (306 | ) | $ | 45,108 | $ | 4,039 | $ | 2,330 | $ | (1,224 | ) | $ | 5,145 | |||||||
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-barrel per day crude distillation tower with over 1.25 million barrels 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 2025 Annual Report on Form 10-K as filed with the SEC on March 31, 2026 and in subsequent filings with the SEC. Other unpredictable or unknown factors not discussed in this press release could also adversely affect forward-looking statements.
SOURCE: Blue Dolphin Energy Company
View the original press release on ACCESS Newswire