secwatch.observer — SEC 8-K summary
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Issuer:     BLUE DOLPHIN ENERGY CO (BDCO)
CIK:        0000793306
Form:       8-K
Filed at:   2025-04-02T23:59:59+00:00
Accession:  0001437749-25-010597
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/793306/000143774925010597/0001437749-25-010597-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/793306/000143774925010597/bdco20250330_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-25-010597

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