Blue Dolphin Q1 net income $6.6M ($0.44/share); revenue down 22% YoY

BLUE DOLPHIN ENERGY CO

2024-Q1 EPS reported $0.44 revenue$91,022,000

Revenue $91.0M, down from $116.7M in Q1 2023; gross profit $11.8M vs $20.5M.
Net income $6.6M ($0.44 diluted EPS) vs $16.8M ($1.12) a year ago; adjusted EBITDA $10.5M.
Cash and equivalents $11.1M at March 31, 2024, down from $18.7M at Dec 31, 2023.
Working capital improved to $0.3M (from deficit of $6.1M), excluding debt $40.9M.
CEO Carroll cites strong start but notes earnings depend primarily on refining margins.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

BLUE DOLPHIN ENERGY CO reported the three months ended March 31, 2024 results: net income $6.6 million, or $0.44 per share, EPS $0.44 per share.

Period: the three months ended March 31, 2024
Net income: $6.6 million, or $0.44 per share
EPS: $0.44 per share
Result: reported results

Exact text from the filing

Blue Dolphin reported total gross profit of $11.8 million, adjusted earnings before interest and other expense, taxes, depreciation, and amortization (adjusted EBITDA) of $10.5 million, and net income of $6.6 million, or $0.44 per share, for the first quarter of 2024.

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Source: SEC EDGAR

accession 0001437749-24-017287

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