Blue Dolphin posts FY 2024 net loss of $8.6M vs net income of $31.0M in 2023

BLUE DOLPHIN ENERGY CO

2025-Q1 EPS reported $0.15 revenue$83,692,000

Revenue fell to $317.5M from $396.0M; refining EBITDA dropped to $2.3M ($0.61/bbl) from $38.6M ($9.37/bbl).
Inventory impairment of $8.3M in 2024 (vs $5.2M in 2023) weighed on results; maintenance turnaround costs also impacted.
Cash and equivalents dropped to $1.1M from $18.7M; working capital deficit widened to $19.1M from $6.1M.
Paid down $7.5M in debt principal and accrued interest during the year; CEO cited balance sheet strength.
Tolling and terminaling EBITDA fell to $2.1M from $4.3M on lower revenue.

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