Adams Resources & Energy, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 09, 2023 at 04:15 pm EDT
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Adams Resources & Energy, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported revenue was USD 624.77 million compared to USD 992.05 million a year ago. Net income was USD 0.827 million compared to USD 2.48 million a year ago. Basic earnings per share from continuing operations was USD 0.33 compared to USD 0.57 a year ago. Diluted earnings per share from continuing operations was USD 0.32 compared to USD 0.56 a year ago.
For the six months, revenue was USD 1,274.93 million compared to USD 1,766.3 million a year ago. Net loss was USD 1.17 million compared to net income of USD 8.57 million a year ago. Basic loss per share from continuing operations was USD 0.46 compared to basic earnings per share from continuing operations of USD 1.96 a year ago. Diluted loss per share from continuing operations was USD 0.46 compared to diluted earnings per share from continuing operations of USD 1.95 a year ago.
Adams Resources & Energy, Inc. is engaged in crude oil marketing, truck, and pipeline transportation, terminalling and storage in various crude oil and natural gas basins in the lower 48 states of the United States. The Company also conducts tank truck transportation of liquid chemicals, pressurized gases, asphalt, and dry bulk primarily in the lower 48 states of the United States, with deliveries into Canada and Mexico, and with 17 terminals across the United States. Its segments include crude oil marketing, transportation, and storage; tank truck transportation of liquid chemicals, pressurized gases, asphalt, and dry bulk; pipeline transportation, terminalling and storage of crude oil, and interstate bulk transportation logistics of crude oil, condensate, fuels, oils and other petroleum products and recycling and repurposing of off-specification fuels, lubricants, and other chemicals. Its subsidiaries include Service Transport Company, Ada Resources, Inc., and Phoenix Oil, Inc.
ADAMS RESOURCES & ENERGY, INC. 
