8-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):  March 21, 2011

	ADAMS RESOURCES & ENERGY, INC.
	(Exact name of registrant as specified in its charter)
Delaware		1-7908	74-1753147
(State or other jurisdiction of incorporation)		(Commission file number)	(IRS employer identification no.)
4400 Post Oak Pkwy, Suite 2700, Houston, Texas			77027
(Address of principal executive offices)			(Zip code)
		(713) 881-3600
		(Registrant’s telephone number, including area code)

 Item 2.02.  Results of Operations and Financial Condition.

On March 21, 2011, Adams Resources & Energy, Inc., a Delaware corporation, issued a press release announcing financial results for the fourth quarter ended December 31, 2010.  A copy of the earnings release is furnished as Exhibit 99.1 to this report and is incorporated herein by reference.  The information in this Current Report on Form 8-K, including the exhibit, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	ADAMS RESOURCES & ENERGY, INC.
Date:  March 21, 2011	By:/s/ Richard B. Abshire
	Richard B. Abshire
	Chief Financial Officer

EX-99.1 CHARTER

Rick Abshire (713) 881-3609

FOR IMMEDIATE RELEASE

ADAMS RESOURCES ANNOUNCES FOURTH QUARTER 2010 EARNINGS

Houston (March 21, 2011) -- Adams Resources & Energy, Inc., (NYSE Amex -AE), announced  unaudited fourth quarter 2010 net earnings of $2,390,000 or $.57 per common share on revenues totaling $628,589,000.  This compares to an unaudited fourth quarter 2009 net loss of $1,094,000 or $.26 per share on revenues of $511,618,000.  For the full year of 2010, net earnings totaled $8,631,000 or $2.05 per share on revenues of $2,211,970,000.   The Company paid an annual cash dividend of $.54 per share during the fourth quarter of 2010 which represented an eight percent increase over 2009.  Net cash provided by operating activities totaled $36,928,000 for the year 2010.  The Company continues to have no bank debt or other forms of debenture obligations.  Cash balances at December 31, 2010 totaled $29,032,000.

A summary of operating results follows:

	Fourth Quarter
	2010			2009
Operating Earnings (Loss)
Marketing	$	6,011,000		$	1,388,000
Transportation		1,501,000			450,000
Oil and gas		(1,833,000	)		(1,068,000	)
Administrative expenses		(2,385,000	)		(2,643,000	)
		3,294,000			(1,873,000	)
Interest income (expense), net		77,000			(15,000	)
Income tax (expense) benefit		(981,000	)		794,000
Net earnings (loss)	$	2,390,000		$	(1,094,000	)

Chairman, K. S. “Bud” Adams, Jr., attributed the 2010 comparative fourth quarter earnings increase to both volume and operating margin improvements within the Company’s crude oil marketing and transportation businesses.  For the year 2010, the company participated in the drilling of 53 wells of which 41 wells were successful with 12 dry holes.  Oil and gas proved reserve discoveries and additions during 2010 replaced 190 percent of 2010 production on an equivalent barrel basis.

…………………………………………………

The information in this release includes certain forward-looking statements that are based on assumptions that in the future may prove not to have been accurate. A number of factors could cause actual results or events to differ materially from those anticipated.  Such factors include, among others, (a) general economic conditions, (b) fluctuations in hydrocarbon prices and margins, (c) variations between commodity contract volumes and actual delivery volumes, (d) unanticipated environmental liabilities or regulatory changes, (e) counterparty credit default, (f) inability to obtain bank and/or trade credit support, (g) availability and cost of insurance, (h) changes in tax laws, (i) the availability of capital, (j) changes in regulations, (k) results of current items of litigation, (l) uninsured items of litigation or losses, (m) uncertainty in reserve estimates and cash flows, (n) ability to replace oil and gas reserves, (o) security issues related to drivers and terminal facilities, (p) commodity price volatility, (q) demand for chemical based trucking operations, (r) successful completion of drilling activity, (s) financial soundness of customers and suppliers and (t) adverse world economic conditions.  These and other risks are described in the Company’s reports that are on file with the Securities and Exchange Commission.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)
	Year Ended						Three Months Ended
	December 31,						December 31,
	2010			2009			2010			2009
Revenues	$	2,211,970		$	1,943,128		$	628,589		$	511,618
Costs, expenses and other		(2,199,269	)		(1,936,627	)		(625,218	)		(513,506	)
Income tax benefit (provision)		(4,070	)		(2,352	)		(981	)		794
Net earnings (loss)	$	8,631		$	4,149		$	2,390		$	(1,094	)
Basic and diluted net earnings (loss)
per common share	$	2.05		$	.98		$	.57		$	(.26	)
Dividends per common share	$	.54		$	.50		$	.54		$	.50

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
	December 31,		December 31,
	2010		2009
ASSETS
Cash	$	29,032	$	16,806
Other current assets		217,944		185,757
Total current assets		246,976		202,563
Net property & equipment		47,589		42,305
Deposits and other assets		6,740		4,533
	$	301,305	$	249,401
LIABILITIES AND EQUITY
Total current liabilities	$	206,998	$	164,191
Long-term debt		-		-
Other long-term liabilities		4,152		1,409
Shareholders’ equity		90,155		83,801
	$	301,305	$	249,401