Adams Resources (AE) Reports Q1 EPS of $0.34
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Adams Resources Announces Dividend And First Quarter 2016 Earnings
May 6, 2016 4:46 PM EDTHOUSTON, May 6, 2016 /PRNewswire/ -- Adams Resources & Energy, Inc., (NYSE MKT: AE), announced first quarter 2016 unaudited net earnings of $1,430,000 or $.34 per common share on revenues of $250,531,000. This compares to first quarter 2015 unaudited net earnings of $3,097,000 or $.73 per common share. Net cash utilized in operating activities totaled $2,358,000 for the three-month period ended March 31, 2016 as the Company expended cash for strategic crude oil inventory purchases in order to take advantage of the difference between current and forward month commodity futures prices.
Thomas S. Smith, President and Chief Executive Officer, attributed the current earnings... More
