Blue Dolphin Reports Second Quarter 2025 Financial Results
Blue Dolphin Energy (OTCQX:BDCO), an independent refiner in the Eagle Ford Shale region, reported mixed Q2 2025 financial results. The company posted a net loss of $1.7 million ($0.12 per share) for Q2 2025, compared to a loss of $6.4 million ($0.43 per share) in Q2 2024. However, for H1 2025, Blue Dolphin achieved net income of $0.5 million ($0.03 per share).
Q2 2025 highlights include total gross profit of $0.6 million and consolidated EBITDA of $0.1 million. The company's working capital deficit improved to $16.8 million as of June 30, 2025, a $2.3 million improvement from December 31, 2024. Cash and cash equivalents increased to $1.8 million, up from $1.1 million at year-end 2024.
Blue Dolphin Energy (OTCQX:BDCO), raffineria indipendente nell'area dello Eagle Ford Shale, ha comunicato risultati finanziari contrastanti per il secondo trimestre 2025. La societ脿 ha registrato una perdita netta di 1,7 milioni di dollari (0,12 $ per azione) nel Q2 2025, rispetto a una perdita di 6,4 milioni di dollari (0,43 $ per azione) nel Q2 2024. Nei primi sei mesi del 2025, invece, Blue Dolphin ha riportato un utile netto di 0,5 milioni di dollari (0,03 $ per azione).
Tra i dati salienti del Q2 2025: un utile lordo totale di 0,6 milioni di dollari e un EBITDA consolidato di 0,1 milioni. Il deficit di capitale circolante si 猫 ridotto a 16,8 milioni di dollari al 30 giugno 2025, con un miglioramento di 2,3 milioni rispetto al 31 dicembre 2024. La liquidit脿 (cash e equivalenti) 猫 salita a 1,8 milioni di dollari, rispetto a 1,1 milioni alla fine del 2024.
Blue Dolphin Energy (OTCQX:BDCO), una refiner铆a independiente en la regi贸n Eagle Ford Shale, present贸 resultados financieros mixtos en el segundo trimestre de 2025. La compa帽铆a registr贸 una p茅rdida neta de 1,7 millones de d贸lares (0,12 $ por acci贸n) en el Q2 2025, frente a una p茅rdida de 6,4 millones (0,43 $ por acci贸n) en el Q2 2024. Sin embargo, en el primer semestre de 2025 Blue Dolphin obtuvo un beneficio neto de 0,5 millones de d贸lares (0,03 $ por acci贸n).
Entre los puntos destacados del Q2 2025: un beneficio bruto total de 0,6 millones de d贸lares y un EBITDA consolidado de 0,1 millones. El d茅ficit de capital de trabajo mejor贸 hasta 16,8 millones de d贸lares al 30 de junio de 2025, una mejora de 2,3 millones respecto al 31 de diciembre de 2024. El efectivo y equivalentes aumentaron a 1,8 millones de d贸lares, desde 1,1 millones a finales de 2024.
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Blue Dolphin Energy (OTCQX:BDCO), raffineur ind茅pendant dans la r茅gion Eagle Ford Shale, a publi茅 des r茅sultats financiers mixtes pour le deuxi猫me trimestre 2025. La soci茅t茅 a enregistr茅 une perte nette de 1,7 million de dollars (0,12 $ par action) au T2 2025, contre une perte de 6,4 millions (0,43 $ par action) au T2 2024. Pour le premier semestre 2025, Blue Dolphin affiche toutefois un b茅n茅fice net de 0,5 million de dollars (0,03 $ par action).
Parmi les points marquants du T2 2025 : un b茅n茅fice brut total de 0,6 million de dollars et un EBITDA consolid茅 de 0,1 million. Le d茅ficit de fonds de roulement s'est r茅duit 脿 16,8 millions de dollars au 30 juin 2025, soit une am茅lioration de 2,3 millions par rapport au 31 d茅cembre 2024. Les liquidit茅s et 茅quivalents de tr茅sorerie sont pass茅s 脿 1,8 million de dollars, contre 1,1 million 脿 la fin 2024.
Blue Dolphin Energy (OTCQX:BDCO), ein unabh盲ngiger Raffineriebetreiber im Eagle Ford Shale, meldete gemischte Finanzergebnisse f眉r das zweite Quartal 2025. Das Unternehmen verzeichnete im Q2 2025 einen Nettoverlust von 1,7 Mio. USD (0,12 USD je Aktie), gegen眉ber einem Verlust von 6,4 Mio. USD (0,43 USD je Aktie) im Q2 2024. F眉r das erste Halbjahr 2025 erzielte Blue Dolphin jedoch einen Nettoertrag von 0,5 Mio. USD (0,03 USD je Aktie).
Zu den Highlights des Q2 2025 z盲hlen ein Bruttogewinn von 0,6 Mio. USD und ein konsolidiertes EBITDA von 0,1 Mio. USD. Der Working-Capital-Defizit verbesserte sich zum 30. Juni 2025 auf 16,8 Mio. USD, eine Verbesserung um 2,3 Mio. gegen眉ber dem 31. Dezember 2024. Zahlungsmittel und Zahlungsmittel盲quivalente stiegen auf 1,8 Mio. USD, nach 1,1 Mio. zum Jahresende 2024.
- None.
- None.
Total gross profit of
$0.6 million for the three months ended June 30, 2025 and$6.6 million for the six months ended June 30, 2025.Net loss of
$1.7 million , or a loss of$0.12 per share for the three months ended June 30, 2025 and net income of$0.5 million , or$0.03 per share for the six months ended June 30, 2025.Consolidated earnings before interest, income taxes, depreciation, and amortization ("EBITDA") of
$0.1 million for the three months ended June 30, 2025 and$5.1 million for the six months ended June 30, 2025.
HOUSTON, TX / / August 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 six months ended June 30, 2025.
Results of Operations
Three Month Periods
Blue Dolphin reported total gross profit of
For the three months ended June 30, 2025, refinery operations loss before income taxes totaled
Six Month Periods
Blue Dolphin reported total gross profit of
For the six months ended June 30, 2025, refinery operations income before income taxes totaled
"In the first half of the year Blue Dolphin focused on completing maintenance and turnaround activities to maximize operational efficiencies," said Jonathan P. Carroll, Chief Executive Officer of Blue Dolphin Energy Company."As margin and pricing pressure continues due to policy uncertainty and geopolitical tensions, we will continue to streamline and simplify our organization to enhance our cost structure and improve profitability."
Liquidity and Working Capital
As of June 30, 2025, Blue Dolphin had
For more information regarding Blue Dolphin's financial results for the three and six months ended June 30, 2025, see Blue Dolphin's Quarterly Report on Form 10-Q as filed with the Securities and Exchange Commission on August 14, 2025.
Blue Dolphin Energy Company and Subsidiaries
Earnings Release Tables
Condensed Consolidated Statements of Income (Unaudited)
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
2025 | 2024 | 2025 | 2024 | |||||||||||||
(in thousands, except per-share amounts) | (in thousands, except per-share amounts) | |||||||||||||||
Total revenue from operations | $ | 56,583 | $ | 69,659 | $ | 140,275 | $ | 160,681 | ||||||||
Total cost of goods sold | 56,033 | 74,358 | 133,652 | 154,193 | ||||||||||||
Gross profit (loss) | 550 | (4,699 | ) | 6,623 | 6,488 | |||||||||||
LEH operating fee, related party | 276 | 254 | 458 | 426 | ||||||||||||
Other operating expenses | 125 | 140 | 244 | 280 | ||||||||||||
General and administrative expenses | 704 | 1,471 | 2,059 | 2,454 | ||||||||||||
Depreciation and amortization | 74 | 62 | 148 | 123 | ||||||||||||
Interest, net | 1,552 | 1,440 | 3,016 | 2,806 | ||||||||||||
Total cost and expenses | 2,731 | 3,367 | 5,925 | 6,089 | ||||||||||||
Income (loss) before income taxes | (2,181 | ) | (8,066 | ) | 698 | 399 | ||||||||||
Income tax benefit (expense) | 459 | 1,716 | (176 | ) | (125 | ) | ||||||||||
Net income (loss) | $ | (1,722 | ) | $ | (6,350 | ) | $ | 522 | $ | 274 | ||||||
Income (loss) per common share | ||||||||||||||||
Basic | $ | (0.12 | ) | $ | (0.43 | ) | $ | 0.03 | $ | 0.02 | ||||||
Diluted | $ | (0.12 | ) | $ | (0.43 | ) | $ | 0.03 | $ | 0.02 | ||||||
Reconciliation of Certain Non-U.S. GAAP Measures (Unaudited)
Three Months Ended June 30, | ||||||||||||||||||||||||||||||||
2025 | 2024 | |||||||||||||||||||||||||||||||
Refinery Operations | Tolling & Terminaling | Corporate & Other | Total | Refinery Operations | Tolling & Terminaling | Corporate & Other | Total | |||||||||||||||||||||||||
(in thousands) | ||||||||||||||||||||||||||||||||
Income (loss) before income taxes | $ | (2,113 | ) | $ | 363 | $ | (431 | ) | $ | (2,181 | ) | $ | (7,082 | ) | $ | 366 | $ | (1,350 | ) | $ | (8,066 | ) | ||||||||||
Add: depreciation and amortization | 301 | 342 | 74 | 717 | 301 | 342 | 62 | 705 | ||||||||||||||||||||||||
Add: interest, net | 928 | 444 | 180 | 1,552 | 806 | 497 | 137 | 1,440 | ||||||||||||||||||||||||
EBITDA | $ | (884 | ) | $ | 1,149 | $ | (177 | ) | $ | 88 | $ | (5,975 | ) | $ | 1,205 | $ | (1,151 | ) | $ | (5,921 | ) | |||||||||||
Six Months Ended June 30, | ||||||||||||||||||||||||||||||||
2025 | 2024 | |||||||||||||||||||||||||||||||
Refinery Operations | Tolling & Terminaling | Corporate & Other | Total | Refinery Operations | Tolling & Terminaling | Corporate & Other | Total | |||||||||||||||||||||||||
(in thousands) | ||||||||||||||||||||||||||||||||
Income (loss) before income taxes | $ | 1,676 | $ | 725 | $ | (1,703 | ) | $ | 698 | $ | 2,104 | $ | 705 | $ | (2,410 | ) | $ | 399 | ||||||||||||||
Add: depreciation and amortization | 599 | 684 | 148 | 1,431 | 602 | 684 | 123 | 1,409 | ||||||||||||||||||||||||
Add: interest, net | 1,764 | 921 | 331 | 3,016 | 1,540 | 993 | 273 | 2,806 | ||||||||||||||||||||||||
EBITDA | $ | 4,039 | $ | 2,330 | $ | (1,224 | ) | $ | 5,145 | $ | 4,246 | $ | 2,382 | $ | (2,014 | ) | $ | 4,614 | ||||||||||||||
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.
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SOURCE: Blue Dolphin Energy Company
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