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Adams Resources & Energy, Inc. - AE STOCK NEWS

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.

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Adams Resources & Energy (NYSE AMERICAN: AE) announced that CEO Kevin Roycraft and CFO Tracy Ohmart will present at the 14th Annual East Coast IDEAS Investor Conference on June 13, 2024, in New York. Their presentation is set for 2 PM ET at the Jay Conference Center – Bryant Park. This event will include 1x1 meetings with investors, and the presentation will be webcast, accessible through the conference host's and the company's websites.

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Adams Resources & Energy, Inc. announced its First Quarter 2024 results with total revenue of $661.1 million, a net loss improvement year over year to ($0.5) million, and EBITDA improvement to $6.0 million. The company declared a quarterly cash dividend of $0.24 per common share. Operational highlights included increased volumes and margin strength in the oil segments. GulfMark marketed 64,634 bpd of crude oil, while Service Transport traveled 6.29 million miles. The company remained solidly positioned with 329,287 barrels of crude oil inventory. Capital investments of $6.2 million were made, and dividends of $0.7 million were paid. The Board of Directors declared a quarterly cash dividend of $0.24 per common share for the first quarter of 2024.

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Adams Resources & Energy, Inc. (NYSE AMERICAN: AE) will release its first quarter 2024 financial and operational results on May 8, 2024, after the market closes. The earnings call is scheduled for May 9th at 9:00 a.m. Eastern Time. Investors can access the call via webcast or phone.

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Adams Resources & Energy, Inc. (AE) reported a year-over-year increase in cash flow from operations and total liquidity. Total revenue for the fourth quarter of 2023 was $709.8 million, with a net loss of ($0.9) million. Adjusted net earnings were $0.1 million. Cash and cash equivalents stood at $33.3 million, and liquidity was $80.3 million at December 31, 2023. For the full year 2023, net income was $0.2 million on revenues of $2.75 billion, with adjusted net loss of ($3.7) million. Net cash provided by operating activities was $30.3 million. The company highlighted operational improvements and financial strength amidst industry challenges.
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Adams Resources & Energy, Inc. (NYSE AMERICAN: AE) will release its fourth quarter and full year 2023 financial results on March 13, 2024, followed by an earnings call on March 14th. Investors can access the call via webcast or phone.
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Adams Resources & Energy, Inc. (NYSE AMERICAN: AE) declares a quarterly cash dividend of $0.24 per common share for Q4 2023, showcasing a commitment to shareholder value. The company has a strong history of dividend payments over 25 years.
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Adams Resources & Energy, Inc. (NYSE AMERICAN: AE) announced that CEO Kevin Roycraft and CFO Tracy Ohmart will present at the Southwest IDEAS Investor Conference on Nov 16, 2023. The presentation will be webcast and can be accessed through the conference website and the company's investor relations section.
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Adams Resources & Energy, Inc. (NYSE AMERICAN: AE) announced Q3 2023 operational and financial results, including $760.6 million in total revenue, $2.3 million in net earnings, and a quarterly cash dividend of $0.24 per common share. GulfMark marketed 92,556 bpd of crude oil, Service Transport traveled 6.51 million miles, and the VEX Pipeline System throughput was 8,548 bpd. The Company's liquidity was $55.9 million at September 30, 2023. The outlook indicates a gradual recovery starting late in the first half of 2024.
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Adams Resources & Energy, Inc. will report its Q3 2023 financial and operational results on November 8, 2023, after the market closes. The earnings call will take place on November 9th at 9:00 a.m. ET. The financial results will be available on the company's website.
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Adams Resources & Energy, Inc. announced that its CEO and President, Kevin Roycraft, and CFO & Treasurer, Tracy Ohmart, will participate in the 14th Annual Midwest IDEAS Conference on August 23-24, 2023 in Chicago. They will present on August 23rd at 11:20 am CT and hold meetings with investors throughout the day. The presentation will be webcast and accessible through the conference website and the company's investor relations section.
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FAQ

What does Adams Resources & Energy Inc. specialize in?

Adams Resources & Energy Inc. specializes in crude oil marketing, tank truck transportation of liquid chemicals and dry bulk, pipeline and storage, and logistics and repurposing of petroleum products.

Where is Adams Resources & Energy Inc. headquartered?

Adams Resources & Energy Inc. is headquartered in Humble, Texas.

What are the main subsidiaries of Adams Resources & Energy Inc.?

The main subsidiaries include GulfMark Energy, Inc., Service Transport Company, Victoria Express Pipeline, LLC, GulfMark Terminals, LLC, Firebird Bulk Carriers, Inc., and Phoenix Oil, Inc.

How does Adams Resources & Energy Inc. contribute to environmental sustainability?

Adams Resources & Energy Inc. contributes to environmental sustainability through its logistics and repurposing segment, which focuses on recycling and repurposing off-specification fuels, lubricants, crude oil, and other chemicals.

What recent project has Phoenix Oil undertaken?

Phoenix Oil has recently acquired 11 acres at the Gulf Inland Logistics Park to expand its operations, providing logistical advantages due to its proximity to the Port of Houston and major roadways.

How has Adams Resources & Energy Inc. performed financially in recent quarters?

Adams Resources & Energy Inc. has shown financial resilience, reporting increases in net earnings and maintaining a solid cash position. The company's liquidity reached $83.6 million by the end of the first quarter of 2024.

Does Adams Resources & Energy Inc. pay dividends?

Yes, Adams Resources & Energy Inc. consistently pays quarterly dividends, showcasing its commitment to delivering long-term value to its shareholders.

What is the significance of GulfMark Energy, Inc. in Adams Resources' operations?

GulfMark Energy, Inc. is a key subsidiary involved in the marketing of crude oil, significantly contributing to Adams Resources' revenue and operational capabilities.

What sectors does Adams Resources & Energy Inc. serve?

Adams Resources & Energy Inc. serves various sectors including oil and gas exploration, transportation of liquid chemicals and dry bulk, and petroleum product logistics.

How does Adams Resources & Energy Inc. ensure operational efficiency?

Adams Resources & Energy Inc. ensures operational efficiency through its diversified segments, strategic acquisitions, and investment in infrastructure like the Gulf Inland Logistics Park.

Adams Resources & Energy, Inc.

NYSE:AE

AE Rankings

AE Stock Data

71.37M
2.57M
7.73%
57.16%
0.42%
Petroleum and Petroleum Products Merchant Wholesalers (except Bulk Stations and Terminals)
Wholesale Trade
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United States of America
HOUSTON