ADAMS RESOURCES & ENERGY, INC.

adamsresources.com

No Longer Reporting

The company has not filed an annual or quarterly report since its Q3 FY2024 10-Q, filed Nov 12, 2024. Its latest SEC filing is a SCHEDULE 13G/A from May 14, 2025.

The sections below describe the company as of the FY2023 annual report.

How Did They Make Money?

FY2023 revenue by product or service revenue

Segment	Share	Revenue
Marketing	94% FY2020: 93%
Transportation	3.6% FY2020: 7.0%
Pipeline and storage	<0.1% FY2020: <0.1%
Logistics and repurposing	2.2% FY2020: 0.0%

Did Revenues Turn Into Profits?

Yes. It kept less than a cent of every revenue dollar as net income in FY2023.

Operating income, FY2023

0% of revenue

▼ −58% vs FY2022 ($5.8M, 0%)

Net income, FY2023

0% of revenue

▼ −94% vs FY2022 ($3.5M, 0%)

How Were They Changing?

Since the FY2023 annual report

Latest quarter: Q3 FY2024, the three months to Sep 30, 2024

Revenue: ▼ −9%; vs $760.6M in Q3 FY2023
Net income: ▼ Now a loss; vs $2.3M in Q3 FY2023

Marketing share of revenue vs 94.7% in Q3 FY2023

Grew. Revenue grew 52% in 4 years, from $1.8B in FY2019 to $2.7B in FY2023, about 11% a year.

Revenue over time

Marketing Transportation Pipeline and storage Logistics and repurposing

$5B$2.5B$0

FY2019 FY2020 FY2021 FY2022 FY2023

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