Swiss to vote on preserving cash as a payment system Despite its steadily declining use in everyday transactions, cash remains popular among the Swiss population. Schweizerische Nationalbank 2016 Select your language Generated with artificial intelligence. On March 8, the Swiss will decide whether the availability of cash should be enshrined in the constitution. A popular initiative and the government’s counterproposal are both on the ballot. An explainer. 6 minutes How do ...

Core Insights - Blue Dolphin Energy Company's shares have increased by 63.4% since the first quarter of 2025 earnings report, contrasting with a 1.7% decline in the S&P 500 index during the same period [1] - The company's financial results indicate significant declines in net income, revenues, and gross profit, highlighting a challenging operating environment [2][11] Financial Performance - For Q1 2025, Blue Dolphin reported a net income of $2.2 million (15 cents per share), down 66% from $6.6 million (44 cents per share) in the previous year [2] - Revenues fell 8% to $83.7 million from $91 million year-over-year, while gross profit dropped 45.7% to $6.1 million from $11.2 million [2] - Consolidated EBITDA decreased by 52% to $5.1 million from $10.5 million in the prior-year quarter [2] Business Segments - The refining segment generated revenues of $82.9 million, down from $89.9 million in the year-ago quarter, with refining EBITDA plummeting 52% to $4.9 million [3] - The tolling and terminaling segment maintained stable EBITDA at $1.2 million compared to $1.18 million in the previous year [4] Operational Focus - CEO Jonathan P. Carroll emphasized a commitment to operational fundamentals, focusing on maintenance, refining product selection, and cost discipline to improve refining margins [5] - The decline in net income and gross profit is attributed to unfavorable refining margins and reduced throughput [6] Cost and Expenses - The cost of goods sold was $77.6 million, slightly down from $79.8 million year-over-year, but revenue drops compressed profit margins [6] - General and administrative expenses rose 37.8% year-over-year to $1.36 million from $983,000, further impacting operating income [6] Debt and Liquidity - Interest expenses increased to $1.46 million from $1.37 million a year ago, indicating ongoing debt servicing challenges [7] - Blue Dolphin improved its cash position to $2.3 million from $1.1 million at the end of 2024, with a narrowed working capital deficit of $14.5 million [8] Legal and Regulatory Matters - The company made progress in resolving legal and environmental issues, including a $1 million settlement with RLI Corp. and a $0.4 million penalty with the Texas Commission on Environmental Quality [9] - However, unresolved civil penalties from the Bureau of Safety and Environmental Enforcement pose potential risks, with an aggregate proposed liability of $2.5 million [10] Market Sentiment - Despite the stock surge post-earnings, the underlying financial results indicate a tougher operating environment characterized by margin compression and liquidity pressures [11]