Filing Flows › Blue Dolphin Energy (BDCO) › Q1 2026 › vs Q1 2025
Blue Dolphin Energy (BDCO) Q1 2026 vs Q1 2025 (year over year)
Blue Dolphin Energy's revenue fell $2.2M (-3%) from $83.7M in Q1 2025 to $81.5M in Q1 2026. The biggest changes: Refinery Operations −$2.1M (-3%); Tolling and Terminaling −$59K (-7%). Operating margin 24.5% against 5.2% (+19.3 pts).
Blue Dolphin Energy, Q1 2026: revenue $81.5M (-3% year over year), operating margin 24.5%, net earnings $14.7M, operating cash flow $831K. The chart draws each line against Q1 2025, the increases inside each band.
Margins
| Q1 2026 | Q1 2025 | Change | |
|---|---|---|---|
| Operating margin | 24.5% | 5.2% | +19.3 pts |
| Net margin | 18.1% | 2.7% | +15.4 pts |
| Free cash flow margin | 1.0% | -2.1% | +3.1 pts |
Every line
| Line | Q1 2026 | Q1 2025 | Change | % |
|---|---|---|---|---|
| Refinery Operations | $80.7M | $82.9M | −$2.1M | -3% |
| Tolling and Terminaling | $765K | $824K | −$59K | -7% |
| Revenue | $81.5M | $83.7M | −$2.2M | -3% |
| Operating profit | $19.9M | $4.3M | $15.6M | +359% |
| Costs & expenses | $61.5M | $79.3M | −$17.8M | -22% |
| Pre-tax earnings | $18.6M | $2.9M | $15.7M | +545% |
| Other expense, net | $1.4M | $1.5M | −$82K | -6% |
| Net earnings | $14.7M | $2.2M | $12.5M | +556% |
| Income tax | $3.8M | $635K | $3.2M | +503% |
| Depreciation & amortization | $719K | $714K | $5K | +0.7% |
| Working capital & other | $14.6M | $4.7M | $9.9M | +212% |
| Operating cash flow | $831K | −$1.7M | $2.6M | — |
| Free cash flow (OCF − capex) | $820K | −$1.7M | $2.5M | — |
| Capital expenditures | $11K | $0 | $11K | — |
Questions
How much did Blue Dolphin Energy's revenue grow year over year in Q1 2026?
Blue Dolphin Energy's revenue fell $2.2M (-3%) from $83.7M in Q1 2025 to $81.5M in Q1 2026.
What drove Blue Dolphin Energy's revenue change in Q1 2026?
Refinery Operations −$2.1M (-3%); Tolling and Terminaling −$59K (-7%).