Adams Resources & Energy, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 10, 2022 at 09:05 pm
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Adams Resources & Energy, Inc. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported revenue was USD 852.9 million compared to USD 568.18 million a year ago. Net income was USD 2.19 million compared to USD 1.55 million a year ago. Basic earnings per share from continuing operations was USD 0.5 compared to USD 0.36 a year ago. Diluted earnings per share from continuing operations was USD 0.5 compared to USD 0.36 a year ago.
For the nine months, revenue was USD 2,619.2 million compared to USD 1,380.42 million a year ago. Net income was USD 10.76 million compared to USD 9.06 million a year ago. Basic earnings per share from continuing operations was USD 2.46 compared to USD 2.13 a year ago. Diluted earnings per share from continuing operations was USD 2.44 compared to USD 2.12 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.