Adams Resources (AE) Reports Q2 EPS of $0.81
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Adams Resources Announces Dividend And Second Quarter 2016 Earnings
August 8, 2016 5:40 PM EDTHOUSTON, Aug. 8, 2016 /PRNewswire/ -- Adams Resources & Energy, Inc. (NYSE MKT: AE) announced second quarter 2016 unaudited net earnings of $3,404,000 or $.81 per common share. Revenues for the quarter totaled $293,163,000. Current period net earnings compare to unaudited second quarter 2015 net earnings of $4,340,000 or $1.03 per common share.
Thomas S. Smith, President and Chief Executive Officer, attributed the 2016 earnings decline to reduced volumes and unit margins within the Company's crude oil marketing business. The current commodity price for crude has suppressed drilling and production in the Company's area of interest and competition has stiffened... More
