Welcome to our dedicated page for Blue Dolphin news (Ticker: BDCO), a resource for investors and traders seeking the latest updates and insights on Blue Dolphin stock.
Blue Dolphin Energy Company (BDCO) provides comprehensive energy solutions through petroleum refining, storage operations, and pipeline transportation across the Gulf Coast region. This news hub offers investors and industry professionals direct access to verified corporate developments and market-moving information.
Track all official announcements including earnings reports, operational updates, and strategic initiatives. Our curated collection features press releases covering refinery operations, storage capacity changes, pipeline expansions, and exploration activities – essential for understanding this integrated energy company's market position.
Key updates include crude processing volumes, terminal utilization rates, transportation infrastructure developments, and regulatory compliance matters. Bookmark this page for timely access to BDCO's financial disclosures, leadership announcements, and energy sector partnerships that impact Gulf Coast energy markets.
Blue Dolphin Energy Company (OTCQX:BDCO) reported a significant financial downturn for FY2024. The company posted a net loss of $8.6 million ($0.58 per share), compared to net income of $31.0 million ($2.08 per share) in 2023. Total revenue decreased to $317.5 million from $396.0 million in 2023.
Refining EBITDA dropped substantially to $2.3 million ($0.61 per barrel) from $38.6 million ($9.37 per barrel) in 2023, impacted by less favorable refining margins, lower sales volume, maintenance costs, and an $8.3 million inventory impairment. Tolling and terminaling EBITDA declined to $2.1 million from $4.3 million.
The company's liquidity position weakened with cash and equivalents falling to $1.1 million from $18.7 million, while working capital deficit increased to $19.1 million from $6.1 million. During 2024, Blue Dolphin prioritized debt reduction, paying down $7.5 million in principal and accrued interest on term loans.
Blue Dolphin Energy Company (OTCQX:BDCO) reported financial results for Q3 2024, showing an adjusted refinery operations segment deficit of $4.0 million compared to a $9.7 million margin in Q3 2023. The company's working capital improved to a positive $9.9 million, a $16.0 million increase from December 2023. Total revenue decreased to $82.1 million from $102.6 million year-over-year. Performance was negatively impacted by less favorable refining margins, lower sales volume, and a $1.9 million inventory impairment. Cash and equivalents stood at $1.7 million, down from $18.7 million at the end of 2023.
Blue Dolphin Energy Company (OTCQX:BDCO) reported its Q2 2024 financial results. Despite a challenging quarter with a total gross deficit of $4.1 million and a net loss of $6.4 million, the company showed improvement in its financial position. Key highlights include:
- Positive working capital of $18.8 million as of June 30, 2024, a $24.9 million improvement from December 31, 2023.
- For the six months ended June 30, 2024: total gross profit of $7.8 million, net income of $0.3 million, and adjusted EBITDA of $4.6 million.
- Q2 results were impacted by a $5.5 million inventory impairment and $1.2 million in maintenance turnaround expenses.
The company completed a maintenance turnaround of the Nixon facility and significantly decreased current debt in Q2 2024.
Blue Dolphin Energy Company (OTCQX:BDCO) reported its financial results for Q1 2024, highlighting a total gross profit of $11.8 million, adjusted EBITDA of $10.5 million, and net income of $6.6 million or $0.44 per share. Revenue from operations was $91 million, down from $116.7 million in the same period in 2023. The company’s cash and cash equivalents decreased to $11.1 million. However, working capital improved from a deficit of $6.1 million to a surplus of $0.3 million.
Blue Dolphin Energy Company (OTCQX:BDCO) reported strong financial results for 2022, achieving a gross profit of $46.1 million, a remarkable increase of 4940% from $0.9 million in 2021. Net income surged to $32.9 million or $2.34 per share, up from a net loss of $12.8 million in the previous year. The refining operations segment contributed $41.2 million in margin, a significant turnaround from a $3.4 million deficit in 2021. Executive Jonathan P. Carroll noted the record-setting performance, highlighting a favorable outlook if refining margins remain positive.
