Welcome to our dedicated page for Adams Resources & Energy news (Ticker: AE), a resource for investors and traders seeking the latest updates and insights on Adams Resources & Energy stock.
Adams Resources & Energy Inc. (NYSE American: AE) is a prominent company specializing in several key areas of the energy sector, including crude oil marketing, transportation, logistics, and repurposing of petroleum products. Headquartered in Humble, Texas, Adams Resources operates through four primary business segments: crude oil marketing, tank truck transportation, pipeline and storage, and logistics and repurposing.
The Crude Oil Marketing segment is a major revenue driver for the company, offering services that include the marketing of crude oil and related activities. The Transportation segment covers the tank truck transportation of liquid chemicals, pressurized gases, asphalt, and dry bulk materials. The Pipeline and Storage segment includes pipeline transportation, terminalling, and storage of crude oil, ensuring a seamless supply chain. Lastly, the Logistics and Repurposing segment focuses on interstate bulk transportation logistics of various petroleum products and the recycling of off-specification fuels, lubricants, and other chemicals.
Adams Resources has a range of subsidiaries, including GulfMark Energy, Inc., Service Transport Company, Victoria Express Pipeline, LLC, GulfMark Terminals, LLC, Firebird Bulk Carriers, Inc., and Phoenix Oil, Inc.. These subsidiaries help diversify the company's portfolio and enhance its ability to meet the energy needs of various industries.
Recent developments highlight the company's commitment to growth and innovation. For instance, Phoenix Oil, a subsidiary of Adams Resources, has acquired 11 acres at the Gulf Inland Logistics Park to expand its operations. This strategic move offers logistical advantages due to its proximity to the Port of Houston and major roadways, thereby boosting the company’s operational efficiency.
Financially, Adams Resources has demonstrated resilience and adaptability. As of the most recent quarterly reports, the company posted a net earnings increase and maintained a solid cash position. Liquidity has also improved, reaching $83.6 million by the end of the first quarter of 2024, reflecting strong operational cash flow management.
In addition to financial performance, Adams Resources continues to prioritize shareholder returns. The company has consistently paid quarterly dividends, showcasing its commitment to delivering long-term value to its investors.
Overall, Adams Resources & Energy Inc. stands as a robust player in the energy sector, leveraging its diversified operations to navigate market challenges and capitalize on growth opportunities.
Adams Resources & Energy reported Q4 2022 revenue of $747.7 million, up from $644.8 million year-over-year. However, the company posted a net loss of $7.3 million (loss of $2.30 per share), primarily due to $5.4 million in incremental costs linked to acquisitions and share repurchases. For 2022, total revenue reached $3.37 billion, with net earnings of $3.5 million. Cash reserves fell to $20.5 million from $97.8 million a year prior, largely due to share repurchases. The company began construction on the VEX Pipeline System, expected to enhance its operations in 2023.
Adams Resources & Energy, Inc. (AMEX: AE) announced a quarterly cash dividend of $0.24 per share for Q4 2022. The dividend is payable on March 24, 2023, to shareholders of record as of March 10, 2023. This marks over 25 years of consistent dividend payments, showcasing the company's stability and strong financial position, as stated by CEO Kevin J. Roycraft.
Adams operates in crude oil marketing, transportation, and recycling, demonstrating a comprehensive approach within the energy sector.
Adams Resources & Energy, Inc. (NYSE AMERICAN: AE) will participate in the Singular Research Best of the Uncovered Conference on December 8, 2022, at 8:30 a.m. PT. CEO Kevin Roycraft will present at the conference, which offers both in-person and virtual attendance options. A slide presentation will be made available on the company’s Investor Relations webpage. This participation highlights the company's efforts to engage with investors and provide updates on its operations in the crude oil and chemical sectors.
Adams Resources & Energy, Inc. (NYSE AMERICAN: AE) reported Q3 2022 net earnings of $2.2 million, or $0.50 per diluted common share, on revenues of $852.9 million, showing significant growth from $1.5 million and $568.2 million in Q3 2021. The company declared a quarterly cash dividend of $0.24 per share, payable on December 16, 2022. Enhanced liquidity totaled $123.3 million, with adjusted cash flow rising to $12.6 million. The acquisition of Firebird and Phoenix has positively impacted cash flow, while a share repurchase reduced outstanding shares by 44%.
On November 9, 2022, Adams Resources & Energy, Inc. (NYSE AMERICAN: AE) announced its participation in the Southwest IDEAS Investor Conference taking place on November 17, 2022, in Dallas, TX. CEO Kevin Roycraft and CFO Tracy Ohmart will present at 8:00 am CT, with a live webcast available via a dedicated link. The IDEAS conferences aim to showcase quality companies to investment professionals, supported by sponsors managing over $200 billion in assets.
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