Filing Flows › Blue Dolphin Energy (BDCO) › Q2 2026
Blue Dolphin Energy (BDCO) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 14, 2026
Blue Dolphin Energy (BDCO) reported revenue of $144M for the second quarter 2026 (Q2 2026), +155% from a year earlier and +77% from the quarter before. Operating margin was 16.4%, net earnings $17.7M (12.3% of revenue).
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 follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $144M | +77% | +155% |
| Operating profit | $23.7M | +19% | — |
| Net earnings | $17.7M | +20% | — |
| Operating cash flow | $38.2M | 46× | — |
| Free cash flow | $38.1M | 46× | — |
What changed
Revenue was $144.3M in Q2 2026, up 155% year over year and up 77% from the previous quarter. Refinery Operations was the largest line at 99% of revenue. Refinery Operations added $87.7M year over year (up 157%), 100% of the total change. Tolling and Terminaling declined 3%.
Operating profit was $23.7M, a 16.4% margin (up 17.6 points year over year). Total costs grew 111% against revenue growth of 155%. The fastest-growing cost line was Cost of revenue (+113%). Net earnings were $17.7M. The effective tax rate was 21.5%.
Operating cash flow was $38.2M, 215% of net earnings. Non-cash charges added back $720K of depreciation and amortization. Working capital and other items added $19.7M. Capital expenditures of $121K left free cash flow of $38.1M.
Questions
What was Blue Dolphin Energy's revenue in the second quarter 2026?
Blue Dolphin Energy (BDCO) reported revenue of $144M for the second quarter 2026 (Q2 2026), +155% from a year earlier and +77% from the quarter before.
Was Blue Dolphin Energy profitable in the second quarter 2026?
Operating profit was $23.7M (16.4% of revenue) and net earnings $17.7M.