---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-24-017287"
form_type: "8-K"
ticker: "BDCO"
cik: "0000793306"
company_name: "BLUE DOLPHIN ENERGY CO"
filed_at: "2024-05-16T23:59:59+00:00"
generated_at: "2026-06-01T22:12:11.840808+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001437749-24-017287
- form_type: 8-K
- ticker: BDCO
- cik: 0000793306
- company_name: BLUE DOLPHIN ENERGY CO
- filed_at: 2024-05-16T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/793306/000143774924017287/0001437749-24-017287-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/793306/000143774924017287/bdco20240308_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-24-017287
- JSON: https://secwatch.observer/filing/0001437749-24-017287.json
- Plain text: https://secwatch.observer/filing/0001437749-24-017287.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/793306/000143774924017287/0001437749-24-017287-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.