---
schema_version: "secwatch.filing_event.v1"
accession: "0001654954-23-006671"
form_type: "8-K"
ticker: "BDCO"
cik: "0000793306"
company_name: "BLUE DOLPHIN ENERGY CO"
filed_at: "2023-05-16T23:59:59+00:00"
generated_at: "2026-06-15T00:18:15.002193+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001654954-23-006671
- form_type: 8-K
- ticker: BDCO
- cik: 0000793306
- company_name: BLUE DOLPHIN ENERGY CO
- filed_at: 2023-05-16T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/793306/000165495423006671/0001654954-23-006671-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/793306/000165495423006671/bdco_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001654954-23-006671
- JSON: https://secwatch.observer/filing/0001654954-23-006671.json
- Plain text: https://secwatch.observer/filing/0001654954-23-006671.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/793306/000165495423006671/0001654954-23-006671-index.htm

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