Blue Dolphin Q1 net income $16.8M ($1.12/share) vs $3.5M; gross profit up 210% YoY

BLUE DOLPHIN ENERGY CO

2023-Q1 EPS reported $1.12 revenue$116,661,000

Net income $16.8M ($1.12 diluted EPS) vs $3.5M ($0.27) in Q1 2022, up $13.3M.
Gross profit $20.5M, +210% YoY; refining gross profit $18.3M, +223% YoY.
Cash from operations $13.8M; cash balance $12.5M vs $0.5M at Dec 2022.
Working capital deficit narrowed to $13.9M from $45.2M, a $31.3M improvement.
Management cautious on macro; focuses on balance sheet, expense management, renewable energy.

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 first quarter of 2023 results: net income $16.8 million, EPS $1.12 per share.

Period: first quarter of 2023
Net income: $16.8 million
EPS: $1.12 per share
Result: reported results

Exact text from the filing

Net income increased $13.3 million, from $3.5 million for the first quarter of 2022 to $16.8 million for the first quarter of 2023. On a per share basis, net income increased $0.85 per share, from $0.27 per share for the first quarter 2022 to $1.12 per share for the first quarter of 2023.

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Source: SEC EDGAR

accession 0001654954-23-006671

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