Crude Oil Marketing Performance - Crude oil marketing revenues increased by $97.6 million (17%) in Q2 2024 compared to Q2 2023, driven by higher crude oil prices, which added $352.5 million, partially offset by lower volumes, which reduced revenues by $254.9 million[113][115] - Average crude oil purchase price rose to $79.56 per barrel in Q2 2024 from $70.27 per barrel in Q2 2023, primarily due to OPEC production cuts and geopolitical events[114][115] - Crude oil field level purchase volumes decreased to 67,099 barrels per day in Q2 2024 from 92,152 barrels per day in Q2 2023, largely due to the expiration of a five-year contract in the Red River area[114][116] - Operating earnings for crude oil marketing increased by $2.2 million (66%) in Q2 2024 compared to Q2 2023, driven by higher crude oil prices and lower costs, partially offset by reduced volumes[113][118] - Crude oil marketing revenues increased by $112.9 million (9%) in H1 2024 compared to H1 2023, driven by higher crude oil prices, which added $642.8 million, partially offset by lower volumes, which reduced revenues by $529.9 million[113][119] - Operating earnings for crude oil marketing increased by $7.0 million (132%) in H1 2024 compared to H1 2023, driven by inventory valuation changes, higher crude oil prices, and lower costs, partially offset by reduced volumes[113][123] - Field level operating earnings increased to $6,017 million for the three months ended June 30, 2024, compared to $4,489 million in the same period in 2023, driven by higher crude oil prices and lower operating costs[127][128] - Crude oil inventory decreased to 244,871 barrels at an average price of $79.80 per barrel as of June 30, 2024, compared to 267,731 barrels at $72.35 per barrel as of December 31, 2023[128] - Crude oil inventory increased by $0.1 million at June 30, 2024, with the price per barrel rising from $72.35 at December 31, 2023, to $79.80 at June 30, 2024, despite a decrease of 8.5% in the number of barrels held[172] Transportation and Logistics - Transportation revenues decreased by 7% to $22,756 million for the three months ended June 30, 2024, compared to $24,452 million in the same period in 2023, due to lower volumes and transportation rates[130][133] - Transportation operating earnings decreased by 40% to $637 million for the three months ended June 30, 2024, compared to $1,056 million in the same period in 2023, primarily due to lower revenues and higher fuel costs[130][136] - Pipeline and storage revenues increased by 40% to $1,256 million for the three months ended June 30, 2024, compared to $894 million in the same period in 2023, driven by higher volumes transported by GulfMark[141][143] - Pipeline and storage operating losses increased by 53% to $1,188 million for the three months ended June 30, 2024, compared to $779 million in the same period in 2023, due to lower revenues from third-party customers and higher operating costs[141][144] - Pipeline throughput increased to 13,881 barrels per day for the three months ended June 30, 2024, compared to 8,560 barrels per day in the same period in 2023[142] - Terminalling volumes increased to 16,660 barrels per day for the three months ended June 30, 2024, compared to 10,785 barrels per day in the same period in 2023[142] - Firebird revenues increased by 8% to $6.266 million in Q2 2024 compared to $5.784 million in Q2 2023, driven by higher transportation rates and volumes[147][148] - Phoenix revenues decreased by 26% to $6.626 million in Q2 2024 compared to $9.009 million in Q2 2023, primarily due to lower volumes and activity[147][148] - Total revenues decreased by 13% to $12.892 million in Q2 2024 compared to $14.793 million in Q2 2023[147] - Operating losses increased by 2,149% to $(2.991) million in Q2 2024 compared to $(133) thousand in Q2 2023, driven by lower Phoenix revenues and higher insurance costs[147][150] Cost Management and Expenses - Driver compensation decreased by $1.6 million (31%) in Q2 2024 compared to Q2 2023, primarily due to lower volumes and a reduced driver count following the Red River area contract expiration[113][117] - Insurance costs decreased by $0.7 million (41%) in Q2 2024 compared to Q2 2023, driven by fewer insurance claims and a lower driver count[113][117] - Fuel costs decreased by $0.8 million (32%) in Q2 2024 compared to Q2 2023, primarily due to reduced driver count and lower crude oil volumes[113][117] - Depreciation and amortization decreased by $0.7 million (33%) in Q2 2024 compared to Q2 2023, due to the timing of equipment purchases and retirements[113][118] - Fuel costs increased by 18% to $2,564 million for the three months ended June 30, 2024, compared to $2,174 million in the same period in 2023, due to higher fuel prices[130][135] - Insurance costs decreased by 28% to $1,613 million for the three months ended June 30, 2024, compared to $2,246 million in the same period in 2023, due to lower insurance claims and a reduced driver count[130][135] - Insurance costs increased by 270% to $2.369 million in Q2 2024 compared to $640 thousand in Q2 2023, primarily due to insurance claims[147][149] - Driver commissions increased by 20% to $2.519 million in Q2 2024 compared to $2.098 million in Q2 2023, driven by a higher driver count[147][149] - General and administrative expenses increased by $2.7 million in Q2 2024 compared to Q2 2023, primarily due to higher salaries, wages, and related personnel costs[155] Financial Position and Cash Flows - Cash and cash equivalents increased by 16% to $38.512 million as of June 30, 2024, compared to $33.256 million as of December 31, 2023[162] - The company had $15.6 million of borrowings outstanding under the Credit Agreement at a weighted average interest rate of 7.67% as of June 30, 2024[167] - No shares were sold under the ATM Agreement during the six months ended June 30, 2024, and the full $20.0 million capacity remains unsold[168] - Net cash flows from operating activities increased by $25.0 million in the six months ended June 30, 2024, compared to the same period in 2023, primarily due to changes in working capital accounts[172] - Early payments received from customers increased by approximately $12.6 million in the 2024 period, while early payments made to suppliers increased by approximately $2.2 million[172] - Net cash flows used in investing activities increased by $1.7 million in the six months ended June 30, 2024, driven by a $2.6 million increase in capital spending for property and equipment[175] - Capital spending by reporting segment totaled $8.5 million in the six months ended June 30, 2024, compared to $5.9 million in the same period in 2023[177] - Net cash used in financing activities was $10.8 million for the six months ended June 30, 2024, compared to $5.2 million in the same period in 2023, primarily due to increased repayments under the Credit Agreement[178] - Total contractual obligations at June 30, 2024, amounted to $53.3 million, including $18.6 million under the Credit Agreement, $25.3 million in finance lease obligations, and $4.5 million in purchase obligations[181] - The company made principal payments of $6.3 million on the Term Loan during the six months ended June 30, 2024, compared to $1.3 million in the same period in 2023[178] - Cash dividends paid on common shares totaled $1.3 million in both the six months ended June 30, 2024, and 2023, at a rate of $0.48 per common share[178] - The company has no off-balance sheet arrangements that are expected to have a material effect on its financial position, results of operations, or cash flows[183]

Exhibit 99.1 FOR IMMEDIATE RELEASE Adams Resources & Energy, Inc. Announces Second Quarter 2024 Results and Declares Quarterly Dividend Houston, Texas (Wednesday, August 7, 2024) -- Adams Resources & Energy, Inc. (NYSE AMERICAN: AE) ("Adams" or the "Company"), a company engaged in marketing, transportation, logistics and repurposing of crude oil, refined products and dry bulk materials, today announced operational and financial results for the quarter ended June 30, 2024. The Company also declared a quarter ...

HOUSTON, Aug. 7, 2024 /PRNewswire/ -- Adams Resources & Energy, Inc. (NYSE AMERICAN: AE) ("Adams" or the "Company"), a company engaged in marketing, transportation, logistics and repurposing of crude oil, refined products and dry bulk materials, today announced operational and financial results for the quarter ended June 30, 2024.  The Company also declared a quarterly cash dividend of $0.24 per common share. Second Quarter 2024 Financial SummaryTotal revenue of $718.5 millionNet loss of ($2.2) million, or ...

HOUSTON, July 29, 2024 /PRNewswire/ -- Adams Resources & Energy, Inc. (NYSE AMERICAN: AE) ("Adams" or the "Company"), a company engaged in marketing, transportation, logistics and repurposing of crude oil, refined products and dry bulk materials, today announced that it will report second quarter 2024 financial and operational results on August 7, 2024, after the market closes.  In addition, the Company will also host its earnings call on August 8th, starting at 2:00 p.m. Eastern Time (1:00 p.m. CT). The Co ...

Low-priced stocks to buy with the potential to double within the next year or so have inherent appeal for investors. Individual shares are affordable making it relatively easy to establish a stake. In this case, I’ve chosen the arbitrary price level of $20. All of the shares discussed in this article are priced between $20 and $25. Each share is also projected to double in price over the next 12 to 18 months.Make no mistake about it, this is risky investing. However, at this price range we aren’t talking ab ...

The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find strong picks.Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of market. Value investors use tried-and-true metrics and fundamental analysis to find companies that they believe are ...

HOUSTON, June 5, 2024 /PRNewswire/ -- Adams Resources & Energy, Inc. (NYSE AMERICAN: AE) ("Adams" or the "Company") today announced that Kevin Roycraft, Chief Executive Officer, President and Board Member of the Company, and Tracy Ohmart, Executive Vice President, Chief Financial Officer & Treasurer of the Company, will present at the East Coast IDEAS Investor Conference on Thursday, June 13, 2024 at Jay Conference Center – Bryant Park in New York, NY.  Adams's presentation is scheduled to begin at 2 PM ET. ...

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. Value investors use fundamental analysis and traditional va ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D. C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___ to ___. Commission file number: 1-07908 ADAMS RESOURCES & ENERGY, INC. (Exact Name of Registrant as Specified in Its Charter) Delaware ...

Exhibit 99.1 FOR IMMEDIATE RELEASE Adams Resources & Energy, Inc. Announces First Quarter 2024 Results and Declares Quarterly Dividend Houston, Texas (Wednesday, May 8, 2024) -- Adams Resources & Energy, Inc. (NYSE AMERICAN: AE) (“Adams” or the “Company”), a company engaged in marketing, transportation, logistics and repurposing of crude oil, refined products and dry bulk materials, today announced operational and financial results for the quarter ended March 31, 2024. The Company also declared a quarterly ...