Filing Flows › Blue Dolphin Energy (BDCO) › How it makes money
How Blue Dolphin Energy (BDCO) makes money
Blue Dolphin Energy (BDCO) made $144M of revenue in the second quarter 2026 (Q2 2026), +155% from a year earlier. Refinery Operations brought in $143M (99%); Tolling and Terminaling brought in $765K (1%). Of every dollar of revenue, 16¢ was left as operating profit, 12¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q2 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Refinery Operations | $143M | 99.5% | +78% | +157% |
| Tolling and Terminaling | $765K | 0.5% | 0% | -3% |
Where each dollar of revenue goes
| Line | Q2 2026 | % of revenue |
|---|---|---|
| Revenue | $144M | 100.0% |
| Operating profit | $23.7M | 16.4% |
| Income tax | $4.9M | 3.4% |
| Net earnings | $17.7M | 12.3% |
| Operating cash flow | $38.2M | 26.5% |
| Free cash flow | $38.1M | 26.4% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q2 2026 | $144M | +155% |
| Q1 2026 | $81.5M | -3% |
| Q4 2025 | $68.8M | -8% |
| Q3 2025 | $70.4M | -14% |
| Q2 2025 | $56.6M | -19% |
| Q1 2025 | $83.7M | -8% |
| Q4 2024 | $74.7M | -31% |
From Blue Dolphin Energy's 10-Q filed Aug 14, 2026 (on EDGAR).
Questions
How does Blue Dolphin Energy make money?
Blue Dolphin Energy (BDCO) made $144M of revenue in the second quarter 2026 (Q2 2026), +155% from a year earlier. Refinery Operations brought in $143M (99%); Tolling and Terminaling brought in $765K (1%). Of every dollar of revenue, 16¢ was left as operating profit, 12¢ was left as net earnings.
What is Blue Dolphin Energy's biggest business?
Refinery Operations: $143M in the second quarter 2026, 99% of revenue, +157% from a year earlier.
What is Blue Dolphin Energy's profit margin?
Net earnings were $17.7M, 12.3% of revenue, in the second quarter 2026; the operating margin was 16.4%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.