Adams Resources (AE) Reports Q1 EPS of $0.73
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Adams Resources Announces Dividend And First Quarter 2015 Earnings
May 7, 2015 5:11 PM EDTHOUSTON, May 7, 2015 /PRNewswire/ -- Adams Resources & Energy, Inc., (NYSE MKT - AE), announced first quarter 2015 unaudited net earnings of $3,097,000 or $.73 per common share on revenues of $555,573,000. This compares to first quarter 2014 unaudited net earnings of $5,363,000 or $1.27 per common share. Net cash provided by operating activities totaled $12,131,000 for the three-month period ended March 31, 2015.
Thomas S. Smith, President and Chief Executive Officer, attributed the earnings reduction to a sharp drop in crude oil prices for the comparative first quarter of 2015. In the first quarter 2014, crude oil prices were increasing and the Company recognized a $2,629,000 pre-tax inventory... More
