Adams Resources & Energy (AE) Reports Q2 Loss, Tops Revenue Estimates

Earnings Performance - Adams Resources & Energy (AE) reported a quarterly loss of $0.87 per share, significantly worse than the Zacks Consensus Estimate of a loss of$ 0.21 and a year-ago loss of $0.23 per share [1] - The company delivered an earnings surprise of -314.29% this quarter, compared to a positive surprise of 13.64% in the previous quarter [1] - Over the last four quarters, the company has surpassed consensus EPS estimates only once [1] Revenue Performance - Adams Resources posted revenues of$ 718.49 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 11.53% and exceeding year-ago revenues of $624.77 million [1] - The company has topped consensus revenue estimates four times over the last four quarters [1] Stock Performance - Adams Resources shares have lost about 6.4% since the beginning of the year, underperforming the S&P 500's gain of 9.9% [2] Earnings Outlook - The current consensus EPS estimate is -$ 0.17 on $650.89 million in revenues for the coming quarter and -$ 0.53 on $2.66 billion in revenues for the current fiscal year [4] - The estimate revisions trend for Adams Resources is mixed, resulting in a Zacks Rank 3 (Hold) for the stock [4] Industry Outlook - The Zacks Industry Rank places Oil and Gas - Refining and Marketing in the bottom 11% of the 250 plus Zacks industries [5] - Research indicates that the top 50% of Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1 [5] Peer Comparison - Tellurian Inc (TELL), another company in the same industry, is expected to post a quarterly loss of$ 0.04 per share, representing a year-over-year improvement of +63.6% [5] - Tellurian Inc's revenues are expected to be $22.43 million, down 29.9% from the year-ago quarter [5]