AE Adams Resources & Energy Inc. featured news, full reports, and detailed charts
Adams Resources & Energy Inc. (AE) Wrap Up:
Adams Resources & Energy, Inc., together with its subsidiaries, engages in the marketing of crude oil, natural gas, and petroleum products. It purchases crude oil and natural gas, and arranges sales and deliveries to refiners and other customers in Texas and Louisiana with additional operations in Michigan. The company also operates as a wholesale purchaser, distributor, and marketer of natural gas, as well as markets branded and unbranded refined petroleum products, including motor fuels and lubricants. In addition, it transports liquid chemicals on a ‘for hire’ basis in the continental United States and Canada. Further, Adams Resources & Energy engages in the exploration and development of...www.adamsresources.com
806 Employees
Founded in 1973
Adams Resources & Energy Inc. (AE:AMEX)
LAST $23.01 USD
CHANGE TODAY -0.09 -0.39%
VOLUME 2.7K
As of 3:26 PM 11/20/09 All times are local (Market data by Reuters is delayed by at least 15 minutes).
Snapshot of Adams Resources & Energy Inc. (AE)
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OPEN
$23.10
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PREVIOUS CLOSE
$23.10
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DAY HIGH
$23.10
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DAY LOW
$22.82
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52 WEEK HIGH
11/11/09 - $25.18
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52 WEEK LOW
03/11/09 - $12.66
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MARKET CAP
97.1M
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AVERAGE VOLUME 3 mo
5.6K
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DILUTED EPS TTM
$-0.25
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SHARES OUTSTANDING
4.2M
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EX-DATE
11/27/09
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P/E TTM
NM
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DIVIDEND
$0.50
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DIVIDEND YIELD
2.17%
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AE Top Compensated Officers
Mr. K. S. Adams Jr.
Chairman of the Board and Chief Executive Off...
Age: 86
Total Annual Compensation: $336.3K
Mr. Frank T. Webster
President, Chief Operating Officer and Direct...
Age: 60
Total Annual Compensation: $485.0K
Mr. Richard B. Abshire
Chief Financial Officer and Vice President
Age: 56
Total Annual Compensation: $331.0K
Executives, Board Directors
Compensation as of Fiscal Year 2008.
Key developments for Adams Resources & Energy Inc. (AE)
Adams Resources & Energy Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2009 ; Declares an Annual Cash Dividend Payable on December 15, 2009
11/13/2009
Adams Resources & Energy Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, the company reported net earnings of $639,000 or $0.15 per basic and diluted share compared to net loss of $6,276,000 or $1.49 per basic and diluted share for the same period a year ago. Revenues for the quarter totaled $576,299,000 compared to $1,288,322,000 reported a year ago. Operating earnings were 1,146,000 compared to operating loss of $10,044,000 reported a year ago. For the nine months, net earnings were $5,243,000 or $1.24 per share on revenues totaling $1,431,510,000 compared to net earnings of $760,000 or $0.18 per basic and diluted share on revenues of $3,534,662,000 for the same period a year ago. Net cash provided by operating activities was $26,979,000 for the nine-month period ended September 30, 2009. The company also announced its board of directors has declared an annual cash dividend in the amount of $0.50 per common share, payable on December 15, 2009 to shareholders of record as of December 1, 2009. The cash dividend is unchanged from the prior year.
Adams Resources & Energy Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2009
08/12/2009
Adams Resources & Energy Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2009. For the quarter, the company reported net earnings of $2,734,000 or $0.65 per basic and diluted share. Current earnings compare to unaudited second quarter 2008 net earnings of $4,825,000 or $1.15 per basic and diluted share. Revenues for the quarter totaled $515,070,000 against $1,280,352,000 a year ago. For the six months ended June 30, 2009, net earnings were $4,604,000 or $1.09 per basic and diluted share on revenues of $855,211,000 against net earnings of $7,036,000 or $1.67 per basic and diluted share on revenues of $2,246,340,000 a year ago.
Adams Resources & Energy Inc. Promotes Sharon Davis to Chief Accounting Officer and Treasurer, Effective May 28, 2009
05/28/2009
Effective May 28, 2009, Adams Resources & Energy Inc. promoted Sharon Davis to the position of Chief Accounting Officer and Treasurer. Her new duties include the oversight of accounting and information technology, as well as additional finance and administrative responsibilities. Most recently, Sharon has served as the public company's Corporate Compliance Officer with emphasis on Sarbanes-Oxley Act requirements. In addition, she is a Certified Public Accountant.
AE Competitors
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Industry Analysis
| Valuation | AE | Industry Range |
| Price/Earnings | NM | Not Meaningful |
| Price/Sales | 0.0x |
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| Price/Book | 1.1x |
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| Price/Cash Flow | 9.1x |
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| TEV/Sales | 0.0x |
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More Recent News About Adams Resources & Energy Inc.
More news for AE
ADAMS RESOURCES & ENERGY, INC. Files SEC form 10-Q, Quarterly Report
Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS Supplemental volume and price information is as follows: (1) Reflects the volume purchased from third parties at the oil and gas field level. Crude oil revenues were reduced for the comparative current period because of significantly lower crude oil prices as shown in the table above. While overall crude oil prices were reduced during the first quarter of 2009, the direction of change in prices initially declined but then increased during the period. The average acquisition price of crude oil moved from the $41 per barrel level at the beginning of the year to $48 per barrel for the March 2009 average price. This event produced a first quarter 2009 inventory liquidation gain of $1,325,000. A similar event occurred in the first quarter of 2008 as crude oil prices rose from the $90 per barrel range in January 2008 to the $105 per barrel range in March 2008 producing a $1,967,000 inventory liquidation gain. As of March 31, 2009 the Company held 184,045 barrels of crude oil inventory at an average price of $47.75 per barrel. Natural gas sales are reported net of underlying natural gas purchase costs and thus reflect gross margin. As shown above, such margins were increased in the first quarter of 2009 relative to 2008. Such increase reflects a return to more normal margin levels as the Company's natural gas margins were compressed due to competitive pressures existing in the marketplace. Last year's refined products segment operating loss occurred because the rate of increase in the crude oil driven supply cost of motor fuel exceeded the rate of increase in the market value of such fuels. As a result, per unit margins narrowed and did not cover fixed operating expenses. Also, the Company's supplier of biodiesel fuel failed to deliver scheduled product resulting in a direct loss to the Company of approximately $400,000. The pr...Click here to read the whole Article (external link)
ADAMS RESOURCES & ENERGY, INC. Files SEC form 8-K, Results of Operations and Financial Condition
Show all filings for ADAMS RESOURCES & ENERGY, INC. | Request a Trial to NEW EDGAR Online Pro Form 8-K for ADAMS RESOURCES & ENERGY, INC. 13-May-2009Results of Operations and Financial Condition Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for in...Click here to read the whole Article (external link)
Adams Resources Announces Haynesville Shale Activity
HOUSTON, Nov. 9 /PRNewswire-FirstCall/ -- Adams Resources & Energy, Inc. (NYSE Amex: AE) announced that during the third quarter of 2009 it participated in the drilling of three successful wells in the Haynesville Shale Play of Nacogdoches County, Texas. These wells, the Hill #1, the Pop Pop Gas Unit #1 and the Hassell Gas Unit #1, each began initial production rates from 12,000 to in excess of 15,000 mcf per day of natural gas with flowing tubing pressures in excess of 7200 psi. The Company has a 5% working interest in these wells. Based on the favorable results to date and a fourth well drilled earlier this year, the Company participated in a recent leasehold acquisition to expand its acreage position in the area. Presently, the Company holds a 5% working interest in approximately 43,000 acres, which includes the area of the four productive wells. A 2% working interest is held in approximately 24,000 additional acres. Further drilling activity is anticipated on this Haynesville opportunity with two rigs scheduled for December 2009 and additional rigs anticipated for 2010. The information in this release includes certain forward-looking statements that are based on assumptions that in the future may prove not to have been accurate. A number of factors could cause actual results or events to differ materially from those anticipated. Such factors include, among others, (a) continued drilling of successful wells in the acreage discussed herein, (b) general economic conditions, (c) fluctuations in hydrocarbon prices and margins, (d) variations between commodity contract volumes and actual delivery volumes, (e) unanticipated environmental liabilities or regulatory changes, (f) counterparty credit default, (g) inability to obtain bank and/or trade credit support, (h) availability and cost of insurance, (i) changes in tax laws, and (j) the availabi...Click here to read the whole Article (external link)
ADAMS RESOURCES & ENERGY, INC. Financials
PERIOD ENDING30-Jun-0931-Mar-0931-Dec-0830-Sep-08Total Revenue515,070 340,141 625,010 1,288,322 Cost of Revenue505,809 332,600 4,093,351 (2,169,959)Gross Profit9,261 7,541 (3,468,341)3,458,281 Operating ExpensesResearch Development - - - - Selling General and Administrative2,384 2,310 (3,460,993)3,465,240 Non Recurring - - - - Others2,549 2,431 4,216 3,085 Total Operating Expenses - - - - Operating Income or Loss4,328 2,800 (11,564)(10,044)Income from Continuing OperationsTotal Other Income/Expenses Net24 32 224 308 Earnings Before Interest And Taxes4,352 2,832 (11,340)(9,736)Interest Expense2 6 51 91 Income Before Tax4,350 2,826 (11,391)(9,827)Income Tax Expense1,616 956 (5,059)(3,551)Minority Interest - - - - Net Income From Continuing Ops2,734 1,870 (6,332)(6,276)Non-recurring EventsDiscontinued Operations - - - - Extraordinary Items - - - - Effect Of Accounting Changes - - - ...Click here to read the whole Article (external link)
ADAMS RESOURCES & ENERGY, INC. Files SEC form 8-K, Results of Operations and Financial Condition
Show all filings for ADAMS RESOURCES & ENERGY, INC. | Request a Trial to NEW EDGAR Online Pro Form 8-K for ADAMS RESOURCES & ENERGY, INC. 12-Aug-2009Results of Operations and Financial Condition Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for in...Click here to read the whole Article (external link)
Adams Resources Announces Third Quarter 2009 Results and Annual Dividend
HOUSTON, Nov. 13 /PRNewswire-FirstCall/ -- Adams Resources & Energy, Inc., (NYSE Amex: AE), announced today third quarter 2009 net earnings of $639,000 or $.15 per common share. Revenues for the quarter totaled $576,299,000. Current results compare to an unaudited third quarter 2008 net loss of $6,276,000 or $1.49 per common share. For the nine months ended September 30, 2009 net earnings were $5,243,000 or $1.24 per share on revenues totaling $1,431,510,000. Net cash provided by operating activities was $26,979,000 for the nine-month period ended September 30, 2009. Chairman K. S. "Bud" Adams, Jr. attributed the third quarter 2009 earnings improvement to price stability within the crude oil markets for 2009 relative to 2008. Last year, declining crude oil prices caused the Company to recognize a non-cash $11.6 million pre-tax inventory valuation loss on the market value of its crude oil inventories held during the third quarter of 2008. Such item did not recur in 2009.A summary of operating results is as follows: Third Quarter ------------- 2009 2008 ---- ---- Operating Earnings (Loss) Marketing $3,852,000 $(10,179,000) Transportation 1,244,000 1,615,000 Oil and gas (1,698,000) 558,000 Administrative expenses (2,252,000) (2,038,000) ----------- ----------- 1,146,000 (10,044,000) Interest income, net 67,000 217,000 Income tax...Click here to read the whole Article (external link)
ADAMS RESOURCES & ENERGY, INC. Files SEC form 10-Q, Quarterly Report
Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS Supplemental volume and price information is as follows: (1) Reflects the volume purchased from third parties at the oil and gas field level. Crude oil revenues were reduced for the comparative current period because of significantly lower average crude oil prices as shown in the table above. While comparative overall 2009 crude oil prices through September 30, 2009 were reduced, the direction of change in prices was generally increasing during the period. The average acquisition price of crude oil moved from the $41 per barrel level at the beginning of the year to $69 per barrel for the September 2009 average purchase price. This event produced an inventory liquidation gain of $4,912,000 for the first nine months of 2009. An opposite event occurred in 2008 as crude oil prices declined from the $90 per barrel range in January 2008 to the $77 per barrel range in September 2008 producing a $3,100,000 inventory liquidation loss. For the comparative third quarter period in 2008, crude oil prices were falling dramatically with a $11.6 million inventory valuation loss occurring in the three-month period. This compares to a $849,000 inventory liquidation gain for the three-month period ended September 30, 2009. As of September 30, 2009 the Company held 172,965 barrels of crude oil inventory at an average price of $69.62 per barrel. Natural gas sales are reported net of underlying natural gas purchase costs and thus reflect gross margins. As shown above, such margins were consistent between the periods except during the third quarter of 2009 when mild weather patterns across the nation served to suppress price volatility and hence margins. Last year, the refined products segment operating loss occurred because the rate of increase in the crude oil driven supply cost of motor fuel exceeded the rate of increase in the market ...Click here to read the whole Article (external link)
ADAMS RESOURCES & ENERGY, INC. Files SEC form 8-K, Other Events
Show all filings for ADAMS RESOURCES & ENERGY, INC. | Request a Trial to NEW EDGAR Online Pro Form 8-K for ADAMS RESOURCES & ENERGY, INC. 9-Nov-2009Other Events Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, not int...Click here to read the whole Article (external link)
ADAMS RESOURCES & ENERGY, INC. Files SEC form 8-K, Results of Operations and Financial Condition
Show all filings for ADAMS RESOURCES & ENERGY, INC. | Request a Trial to NEW EDGAR Online Pro Form 8-K for ADAMS RESOURCES & ENERGY, INC. 13-Nov-2009Results of Operations and Financial Condition Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for in...Click here to read the whole Article (external link)
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