Delaware
|
1-7908
|
74-1753147
|
(State or other jurisdiction
|
(Commission file
|
(IRS employer
|
of incorporation)
|
number)
|
Identification no.)
|
17 S. Briar Hollow Lane, Houston, Texas
|
77027
|
|
(Address of principal executive offices)
|
(Zip code)
|
[ ]
|
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
[ ]
|
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|
[ ]
|
Pre-commencement communications pursuant to Rule 14d-2 (b) under the Exchange Act
|
[ ]
|
Pre-commencement communications pursuant to Rule 13e-4 (c) under the Exchange Act
|
Item 2.02.
|
Results of Operations and Financal Condition.
|
ADAMS RESOURCES & ENERGY. INC.
|
|
November 5, 2015
|
BY: /s/ Richard B. Abshire
|
Richard B. Abshire
|
|
Chief Financial Officer
|
Third Quarter
|
||||||||
2015
|
2014
|
|||||||
Operating Earnings (Expense)
|
||||||||
Marketing
|
$ | 3,715,000 | $ | 5,041,000 | ||||
Transportation
|
918,000 | 1,464,000 | ||||||
Oil and gas
|
(2,909,000 | ) | 1,527,000 | |||||
Administrative expenses
|
(2,101,000 | ) | (2,300,000 | ) | ||||
(377,000 | ) | 5,732,000 | ||||||
Interest income, net
|
63,000 | 116,000 | ||||||
Income tax (provision) benefit
|
6,000 | (1,993,000 | ) | |||||
Net earnings (loss)
|
$ | (308,000 | ) | $ | 3,855,000 |
UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
|
||||||||||||||||
(In thousands, except per share data)
|
||||||||||||||||
Nine Months Ended
|
Three Months Ended
|
|||||||||||||||
September 30,
|
September 30,
|
|||||||||||||||
2015
|
2014
|
2015
|
2014
|
|||||||||||||
Revenues
|
$ | 1,596,024 | $ | 3,283,090 | $ | 439,893 | $ | 1,173,970 | ||||||||
Costs, expenses and other
|
(1,584,331 | ) | (3,262,667 | ) | (440,207 | ) | (1,168,122 | ) | ||||||||
Income tax (provision) benefit
|
(4,564 | ) | (7,230 | ) | 6 | (1,993 | ) | |||||||||
Net earnings (loss)
|
$ | 7,129 | $ | 13,193 | $ | (308 | ) | $ | 3,855 | |||||||
Earnings (loss) per common share:
|
||||||||||||||||
Basic and diluted net earnings
|
||||||||||||||||
(loss) per common share
|
$ | 1.69 | $ | 3.13 | $ | (.07 | ) | $ | .92 | |||||||
Dividends per common share
|
$ | .66 | $ | .66 | $ | .22 | $ | .22 |
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEET
|
||||||||
(In thousands)
|
||||||||
September 30,
|
December 31,
|
|||||||
2015
|
2014
|
|||||||
ASSETS
|
||||||||
Cash and marketable securities
|
$ | 95,235 | $ | 80,184 | ||||
Other current assets
|
117,794 | 170,761 | ||||||
Total current assets
|
213,029 | 250,945 | ||||||
Net property & equipment
|
69,866 | 84,871 | ||||||
Deposits and other assets
|
5,906 | 4,998 | ||||||
$ | 288,801 | $ | 340,814 | |||||
LIABILITIES AND EQUITY
|
||||||||
Total current liabilities
|
$ | 113,364 | $ | 168,603 | ||||
Other long-term liabilities
|
13,595 | 14,714 | ||||||
Shareholders’ equity
|
161,842 | 157,497 | ||||||
$ | 288,801 | $ | 340,814 |