Adams Resources (AE) Reports Q3 Loss of $0.51/Share
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Adams Resources Announces Dividend And Third Quarter 2016 Earnings
November 8, 2016 4:39 PM ESTHOUSTON, Nov. 8, 2016 /PRNewswire/ -- Adams Resources & Energy, Inc. (NYSE MKT: AE) announced a third quarter 2016 unaudited net loss of $2,153,000 or $.51 per common share. Revenues for the quarter totaled $256,877,000. The current period net loss compares to an unaudited third quarter 2015 net loss of $308,000 or $.07 per common share. For the nine months ended September 30, 2016, net earnings were $2,681,000 or $.64 per common share.
Thomas S. Smith, President and Chief Executive Officer, attributed the 2016 earnings decline to an investment impairment provision recorded in the third quarter 2016, as well as, reduced volumes and unit margins within the... More
