Adams Resources & Energy, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2023
May 09, 2023 at 04:41 pm EDT
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Adams Resources & Energy, Inc. reported earnings results for the first quarter ended March 31, 2023. For the first quarter, the company reported revenue was USD 650.16 million compared to USD 774.25 million a year ago. Net loss was USD 2 million compared to net income of USD 6.09 million a year ago.
Basic loss per share from continuing operations was USD 0.79 compared to basic earnings per share from continuing operations of USD 1.4 a year ago. Diluted loss per share from continuing operations was USD 0.79 compared to diluted earnings per share from continuing operations of USD 1.39 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. 
