---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-25-035213"
form_type: "8-K"
ticker: "BDCO"
cik: "0000793306"
company_name: "BLUE DOLPHIN ENERGY CO"
filed_at: "2025-11-14T23:59:59+00:00"
generated_at: "2026-05-16T20:01:48.281957+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Blue Dolphin Q3 net loss $4.7M; gross profit $0.03M vs ($3.3M) YoY; cash rises to $3.3M

## Summary
- Net loss of $4.7M ($0.31 EPS) vs $5.0M ($0.34) loss in Q3 2024; nine-month loss $4.2M ($0.28) vs $4.7M ($0.32).
- Gross profit $0.03M in Q3 vs gross deficit of $3.3M a year ago; nine-month gross profit $6.7M vs $3.2M.
- Refinery EBITDA loss improved to ($1.5M) in Q3 from ($4.5M) in Q3 2024; consolidated EBITDA ($4.4M) vs ($4.1M).
- Recorded $3.0M impairment of fixed assets in Q3; cash and restricted cash $3.3M, up from $1.1M at Dec 2024.
- Working capital deficit widened to $23.1M from $19.1M at Dec 2024; CEO cites cost management and operational efficiencies.

## SEC filing metadata
- accession: 0001437749-25-035213
- form_type: 8-K
- ticker: BDCO
- cik: 0000793306
- company_name: BLUE DOLPHIN ENERGY CO
- filed_at: 2025-11-14T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/793306/000143774925035213/0001437749-25-035213-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/793306/000143774925035213/bdco20250902_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-25-035213
- JSON: https://secwatch.observer/filing/0001437749-25-035213.json
- Plain text: https://secwatch.observer/filing/0001437749-25-035213.txt

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