Adams Resources & Energy (AE) Reports Q3 Loss, Tops Revenue Estimates

Earnings Performance - Adams Resources & Energy (AE) reported a quarterly loss of $1.76 per share, significantly worse than the Zacks Consensus Estimate of a loss of$ 0.56, representing an earnings surprise of -214.29% [1] - The company's loss per share increased from $0.72 a year ago [1] - Over the last four quarters, the company has surpassed consensus EPS estimates only once [2] Revenue Performance - Adams Resources posted revenues of$ 695.16 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 7.11% [2] - This represents a decrease from year-ago revenues of $760.61 million [2] - The company has topped consensus revenue estimates four times over the last four quarters [2] Stock Performance - Adams Resources shares have added about 4.4% since the beginning of the year, underperforming the S&P 500's gain of 25.8% [3] - The stock's immediate price movement will depend on management's commentary on the earnings call [3] Earnings Outlook - The current consensus EPS estimate is$ 0.03 on $707.6 million in revenues for the coming quarter and -$ 1.59 on $2.74 billion in revenues for the current fiscal year [7] - The estimate revisions trend for Adams Resources is mixed, translating into a Zacks Rank 3 (Hold) [6] Industry Outlook - The Zacks Industry Rank places Oil and Gas - Refining and Marketing in the bottom 7% of the 250 plus Zacks industries [8] - The top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1 [8] Peer Performance - Independent Contract Drilling (ICDI) is expected to post a quarterly loss of$ 0.94 per share, representing a year-over-year change of -154.1% [9] - Revenues for Independent Contract Drilling are expected to be $36.19 million, down 18.1% from the year-ago quarter [10]