Blue Dolphin Reports Third Quarter 2025 Financial Results
Blue Dolphin Energy Company (OTCQX:BDCO) reported results for the three and nine months ended September 30, 2025.
Key figures: Q3 2025 net loss $4.7M (loss per share $0.31); nine-month net loss $4.2M (loss per share $0.28). Gross profit was $0.03M in Q3 2025 and $6.7M for the nine months. Consolidated EBITDA was $(4.4)M in Q3 and $0.8M for the nine months. Refinery operations EBITDA was $(1.5)M in Q3 and $2.5M for the nine months.
Liquidity: cash and restricted cash totaled $3.3M at September 30, 2025 (up $2.2M from Dec 31, 2024), and working capital deficit widened to $23.1M.
Blue Dolphin Energy Company (OTCQX:BDCO) ha riportato i risultati per i tre e nove mesi terminati il 30 settembre 2025.
Vincoli chiave: perdita netta Q3 2025 $4,7 milioni (perdita per azione $0,31); perdita netta nei nove mesi $4,2 milioni (perdita per azione $0,28). Utile lordo è stato $0,03 milioni nel Q3 2025 e $6,7 milioni per i nove mesi. EBITDA consolidato è stato $(4,4) milioni nel Q3 e $0,8 milioni nei nove mesi. EBITDA delle operazioni di raffinazione è stato $(1,5) milioni nel Q3 e $2,5 milioni per i nove mesi.
Liquidità: contanti e contanti ristretti ammontavano a $3,3 milioni al 30 settembre 2025 (in aumento di $2,2 milioni rispetto al 31 dicembre 2024), e il deficit di capitale circolare si è ampliato a $23,1 milioni.
Blue Dolphin Energy Company (OTCQX:BDCO) informó resultados para los tres y nueve meses terminados el 30 de septiembre de 2025.
Cifras clave: pérdida neta del 3T 2025 de 4,7 M$ (pérdida por acción 0,31$); pérdida neta de los nueve meses 4,2 M$ (pérdida por acción 0,28$). Beneficio bruto fue de 0,03 M$ en el 3T 2025 y 6,7 M$ para los nueve meses. EBITDA consolidado fue de (4,4) M$ en el 3T y 0,8 M$ en los nueve meses. EBITDA de operaciones de refinación fue de (1,5) M$ en el 3T y 2,5 M$ para los nueve meses.
Liquidez: efectivo y efectivo restringido totalizaron $3,3 M al 30 de septiembre de 2025 (un aumento de 2,2 M$ desde el 31 de diciembre de 2024), y el déficit de capital de trabajo se amplió a $23,1 M.
Blue Dolphin Energy Company (OTCQX:BDCO)는 2025년 9월 30일 종료된 3개월 및 9개월 실적을 발표했습니다.
주요 수치: 2025년 3분기 순손실 470만 달러 (주당손실 0.31달러); 9개월 순손실 420만 달러 (주당손실 0.28달러). 매출총이익은 2025년 3분기에 0.03백만 달러였고 9개월 동안 670만 달러였습니다. 통합 EBITDA는 3분기 -440만 달러였고 9개월 동안 80만 달러였습니다. 정제사업 EBITDA는 3분기에 -150만 달러였고 9개월 동안 250만 달러였습니다.
유동성: 현금 및 제한 현금은 2025년 9월 30일 기준 330만 달러였고 (2024년 12월 31일 대비 220만 달러 증가), 운전자본 적자는 2310만 달러로 확대되었습니다.
Blue Dolphin Energy Company (OTCQX:BDCO) a publié les résultats pour les trois et neuf mois clos le 30 septembre 2025.
Chiffres clés : perte nette T3 2025 4,7 M$ (perte par action 0,31$); perte nette sur neuf mois 4,2 M$ (perte par action 0,28$). Bénéfice brut a été de 0,03 M$ au T3 2025 et de 6,7 M$ pour les neuf mois. EBITDA consolidé a été de (4,4) M$ au T3 et de 0,8 M$ pour les neuf mois. EBITDA des opérations de raffinage a été de (1,5) M$ au T3 et de 2,5 M$ pour les neuf mois.
Liquidité : la trésorerie et les liquidités restreintes s'élevaient à 3,3 M$ au 30 septembre 2025 (en hausse de 2,2 M$ par rapport au 31 décembre 2024), et le déficit de fonds de roulement s'est élargi à 23,1 M$.
Blue Dolphin Energy Company (OTCQX:BDCO) meldete Ergebnisse für die drei- und neunzehn Monate zum 30. September 2025.
Schlüsselfiguren: Q3 2025 Nettoneuverlust 4,7 Mio. $ (Verlust pro Aktie 0,31$); Nettoverschuldung für neun Monate 4,2 Mio. $ (Verlust pro Aktie 0,28$). Bruttogewinn betrug im Q3 2025 0,03 Mio. $ und 6,7 Mio. $ für die neun Monate. Konsolidiertes EBITDA betrug im Q3 (4,4) Mio. $ und im Nine-Month Zeitraum 0,8 Mio. $. EBITDA der Raffinerieoperationen betrug im Q3 (1,5) Mio. $ und 2,5 Mio. $ für die neun Monate.
Liquidität: Barmittel und eingeschränkte Barmittel beliefen sich zum 30. September 2025 auf 3,3 Mio. $ (Anstieg um 2,2 Mio. $ gegenüber dem 31. Dezember 2024), und das Working-Capital-Defizit verschärfte sich auf 23,1 Mio. $.
Blue Dolphin Energy Company (OTCQX:BDCO) ذكرت النتائج للفترات الثلاثة و-nine أشهر المنتهية في 30 سبتمبر 2025.
الأرقام الرئيسية: صافي الخسارة للربع الثالث 2025 4.7 مليون دولار (خسارة للسهم 0.31 دولار); صافي الخسارة خلال التسعة أشهر 4.2 مليون دولار (خسارة للسهم 0.28 دولار). الربح الإجمالي بلغ 0.03 مليون دولار في الربع الثالث 2025 و6.7 مليون دولار للمدة التسعة أشهر. EBITDA الموحد كان (4.4) مليون دولار في الربع الثالث و0.8 مليون دولار للمدة التسعة أشهر. EBITDA عمليات التكرير كان (1.5) مليون دولار في الربع الثالث و2.5 مليون دولار للمدة التسعة أشهر.
السيولة: النقدية والنقد المقيد بلغا 3.3 مليون دولار في 30 سبتمبر 2025 (ارتفاع بمقدار 2.2 مليون دولار من 31 ديسمبر 2024)، وبتوسع عجز رأس المال العامل إلى 23.1 مليون دولار.
- Gross profit of $6.7M for nine months ended September 30, 2025
- Consolidated EBITDA of $0.8M for nine months ended September 30, 2025
- Refinery operations EBITDA of $2.5M for nine months ended September 30, 2025
- Cash and restricted cash improved by $2.2M to $3.3M at Sept 30, 2025
- Net loss of $4.7M in Q3 2025 (loss per share $0.31)
- Working capital deficit increased to $23.1M as of Sept 30, 2025
- Impairment of fixed assets of $3.026M recorded in Q3 2025
- Total revenue declined ~14% Q3 2025 ($70.4M) vs Q3 2024 ($82.1M)
Total gross profit of
$0.03 million for the three months ended September 30, 2025 and$6.7 million for the nine months ended September 30, 2025.Net loss of
$4.7 million , or a loss of$0.31 per share, for the three months ended September 30, 2025 and a net loss of$4.2 million , or a loss of$0.28 per share, for the nine months ended September 30, 2025.Consolidated earnings before interest, income taxes, depreciation, and amortization ("EBITDA") of
$(4.4) million for the three months ended September 30, 2025 and consolidated EBITDA of$0.8 million for the nine months ended September 30, 2025.Refinery operations EBITDA of
$(1.5) million for the three months ended September 30, 2025 and refinery operations EBITDA of$2.5 million for the nine months ended September 30, 2025.
HOUSTON, TX / ACCESS Newswire / November 14, 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 and nine months ended September 30, 2025.
Results of Operations
Three Month Periods
Blue Dolphin reported total gross profit of
For the three months ended September 30, 2025, refinery operations loss before income taxes totaled
Nine Month Periods
Blue Dolphin reported total gross profit of
For the nine months ended September 30, 2025, refinery operations loss before income taxes totaled
"Blue Dolphin continued to extract operational efficiencies where possible and manage costs," said Jonathan P. Carroll, Chief Executive Officer of Blue Dolphin Energy Company. "As a result, we achieved a gross profit of
Liquidity and Working Capital
As of September 30, 2025, Blue Dolphin had
For more information regarding Blue Dolphin's financial results for the three and nine months ended September 30, 2025, see Blue Dolphin's Quarterly Report on Form 10-Q as filed with the Securities and Exchange Commission on November 14, 2025.
Blue Dolphin Energy Company and Subsidiaries
Earnings Release Tables
Condensed Consolidated Statements of Income (Unaudited)
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
2025 | 2024 | 2025 | 2024 | |||||||||||||
(in thousands, except per-share amounts) | (in thousands, except per-share amounts) | |||||||||||||||
Total revenue from operations | $ | 70,355 | $ | 82,109 | $ | 210,630 | $ | 242,790 | ||||||||
Total cost of goods sold | 70,323 | 85,426 | 203,975 | 239,619 | ||||||||||||
Gross profit (loss) | 32 | (3,317 | ) | 6,655 | 3,171 | |||||||||||
LEH operating fee, related party | 279 | 202 | 737 | 628 | ||||||||||||
Other operating expenses | 117 | 177 | 361 | 457 | ||||||||||||
General and administrative expenses | 1,633 | 1,041 | 3,692 | 3,495 | ||||||||||||
Depreciation and amortization | 74 | 61 | 222 | 184 | ||||||||||||
Impairment of fixed assets | 3,026 | - | 3,026 | - | ||||||||||||
Interest, net | 849 | 1,548 | 3,865 | 4,354 | ||||||||||||
Total cost and expenses | 5,978 | 3,029 | 11,903 | 9,118 | ||||||||||||
Loss before income taxes | (5,946 | ) | (6,346 | ) | (5,248 | ) | (5,947 | ) | ||||||||
Income tax benefit | 1,270 | 1,346 | 1,094 | 1,221 | ||||||||||||
Net loss | $ | (4,676 | ) | $ | (5,000 | ) | $ | (4,154 | ) | $ | (4,726 | ) | ||||
Loss per common share | ||||||||||||||||
Basic | $ | (0.31 | ) | $ | (0.34 | ) | $ | (0.28 | ) | $ | (0.32 | ) | ||||
Diluted | $ | (0.31 | ) | $ | (0.34 | ) | $ | (0.28 | ) | $ | (0.32 | ) | ||||
Reconciliation of Certain Non-U.S. GAAP Measures (Unaudited)
Three Months Ended September 30, | ||||||||||||||||||||||||||||||||
2025 | 2024 | |||||||||||||||||||||||||||||||
Refinery Operations | Tolling & Terminaling | Corporate & Other | Total | Refinery Operations | Tolling & Terminaling | Corporate & Other | Total | |||||||||||||||||||||||||
(in thousands) | ||||||||||||||||||||||||||||||||
Income (loss) before income taxes | $ | (2,046 | ) | $ | 514 | $ | (4,414 | ) | $ | (5,946 | ) | $ | (5,741 | ) | $ | 436 | $ | (1,041 | ) | $ | (6,346 | ) | ||||||||||
Add: depreciation and amortization | 302 | 342 | 74 | 718 | 302 | 342 | 61 | 705 | ||||||||||||||||||||||||
Add: interest, net | 249 | 437 | 163 | 849 | 900 | 512 | 136 | 1,548 | ||||||||||||||||||||||||
EBITDA | $ | (1,495 | ) | $ | 1,293 | $ | (4,177 | ) | $ | (4,379 | ) | $ | (4,539 | ) | $ | 1,290 | $ | (844 | ) | $ | (4,093 | ) | ||||||||||
Nine Months Ended September 30, | ||||||||||||||||||||||||||||||||
2025 | 2024 | |||||||||||||||||||||||||||||||
Refinery Operations | Tolling & Terminaling | Corporate & Other | Total | Refinery Operations | Tolling & Terminaling | Corporate & Other | Total | |||||||||||||||||||||||||
(in thousands) | ||||||||||||||||||||||||||||||||
Income (loss) before income taxes | $ | (370 | ) | $ | 1,239 | $ | (6,117 | ) | $ | (5,248 | ) | $ | (3,637 | ) | $ | 1,140 | $ | (3,450 | ) | $ | (5,947 | ) | ||||||||||
Add: depreciation and amortization | 901 | 1,026 | 222 | 2,149 | 904 | 1,026 | 184 | 2,114 | ||||||||||||||||||||||||
Add: interest, net | 2,013 | 1,358 | 494 | 3,865 | 2,440 | 1,506 | 408 | 4,354 | ||||||||||||||||||||||||
EBITDA | $ | 2,544 | $ | 3,623 | $ | (5,401 | ) | $ | 766 | $ | (293 | ) | $ | 3,672 | $ | (2,858 | ) | $ | 521 | |||||||||||||
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 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.
SOURCE: Blue Dolphin Energy Company
View the original press release on ACCESS Newswire
FAQ
What were Blue Dolphin (BDCO) Q3 2025 earnings per share and net loss?
How did Blue Dolphin (BDCO) perform on EBITDA for the nine months ended Sept 30, 2025?
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Did Blue Dolphin (BDCO) record any asset impairments in Q3 2025?
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