Filing Flows › Blue Dolphin Energy (BDCO) › Q1 2026
Blue Dolphin Energy (BDCO) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 15, 2026
Blue Dolphin Energy (BDCO) reported revenue of $81.5M for the first quarter 2026 (Q1 2026), -3% from a year earlier and +19% from the quarter before. Operating margin was 24.5%, net earnings $14.7M (18.1% of revenue).
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 follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $81.5M | +19% | -3% |
| Operating profit | $19.9M | — | +359% |
| Net earnings | $14.7M | — | +556% |
| Operating cash flow | $831K | -53% | — |
| Free cash flow | $820K | -61% | — |
What changed
Revenue was $81.5M in Q1 2026, down 3% year over year and up 19% from the previous quarter. Refinery Operations was the largest line at 99% of revenue. Refinery Operations lost $2.1M year over year (down 3%), 97% of the total change.
Operating profit was $19.9M, a 24.5% margin (up 19.3 points year over year). Total costs fell 22% while revenue fell 3%. Net earnings were $14.7M, up 556% year over year. The effective tax rate was 20.6%.
Operating cash flow was $831K, 6% of net earnings. Non-cash charges added back $719K of depreciation and amortization. Working capital and other items used $14.6M. Capital expenditures of $11K left free cash flow of $820K.
Questions
What was Blue Dolphin Energy's revenue in the first quarter 2026?
Blue Dolphin Energy (BDCO) reported revenue of $81.5M for the first quarter 2026 (Q1 2026), -3% from a year earlier and +19% from the quarter before.
Was Blue Dolphin Energy profitable in the first quarter 2026?
Operating profit was $19.9M (24.5% of revenue) and net earnings $14.7M.