Filing Flows › Blue Dolphin Energy (BDCO) › Q2 2026 › vs Q2 2025
Blue Dolphin Energy (BDCO) Q2 2026 vs Q2 2025 (year over year)
Blue Dolphin Energy's revenue rose $87.7M (+155%) from $56.6M in Q2 2025 to $144M in Q2 2026. The biggest changes: Refinery Operations +$87.7M (+157%); Tolling and Terminaling −$23K (-3%). Operating margin 16.4% against -1.1% (+17.6 pts).
Blue Dolphin Energy, Q2 2026: revenue $144M (+155% year over year), operating margin 16.4%, net earnings $17.7M, operating cash flow $38.2M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 16.4% | -1.1% | +17.6 pts |
| Net margin | 12.3% | -3.0% | +15.3 pts |
| Free cash flow margin | 26.4% | -2.9% | +29.3 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Refinery Operations | $143M | $55.8M | $87.7M | +157% |
| Tolling and Terminaling | $765K | $788K | −$23K | -3% |
| Revenue | $144M | $56.6M | $87.7M | +155% |
| Operating profit | $23.7M | −$629K | $24.4M | — |
| Costs & expenses | $121M | $57.2M | $63.3M | +111% |
| Pre-tax earnings | $22.6M | −$2.2M | $24.8M | — |
| Other expense, net | $1.1M | $1.6M | −$429K | -28% |
| Cost of revenue | $119M | $56.0M | $63.1M | +113% |
| General & admin | $885K | $704K | $181K | +26% |
| Other operating costs | $489K | $475K | $14K | +3% |
| Net earnings | $17.7M | −$1.7M | $19.5M | — |
| Income tax | $4.9M | −$459K | $5.3M | — |
| Depreciation & amortization | $720K | $717K | $3K | +0.4% |
| Working capital & other | $19.7M | −$617K | $20.4M | — |
| Operating cash flow | $38.2M | −$1.6M | $39.8M | — |
| Free cash flow (OCF − capex) | $38.1M | −$1.7M | $39.7M | — |
| Capital expenditures | $121K | $29K | $92K | +317% |
Questions
How much did Blue Dolphin Energy's revenue grow year over year in Q2 2026?
Blue Dolphin Energy's revenue rose $87.7M (+155%) from $56.6M in Q2 2025 to $144M in Q2 2026.
What drove Blue Dolphin Energy's revenue change in Q2 2026?
Refinery Operations +$87.7M (+157%); Tolling and Terminaling −$23K (-3%).