Adams Resources and Energy Sucks Customer Reviews and Feedback

From Everything.Sucks

Adams Resources and Energy, Inc. is a Fortune 1000 company engaged in the production and marketing of crude oil, natural gas and liquid chemical products. Adams was founded by K. S. "Bud" Adams Jr. in 1947, as the ADA Oil Company and went public in 1974. The Company and its subsidiaries presently have over 800 employees.

Adams or AE is primarily engaged in the business of crude oil marketing, transportation and storage and tank truck transportation of liquid chemicals and dry bulk through its two wholly-owned subsidiaries, GulfMark Energy, Inc. ( ‟GulfMark”) and Service Transport Company. Adams purchases crude oil from independent producers primarily in Texas, Louisiana, and Michigan; and arranges sales and deliveries to refiners and other customers. GulfMark purchases approximately 65,000 barrels per day at the wellhead.

For the full year 2019, the Company had net earnings of $8.2 million, or $1.94 per common share, on revenues of $1.81 billion, compared to net earnings of $2.9 million, or $0.70 per common share, on revenues of $1.75 billion for the full year 2018. On an adjusted basis, net earnings were $4.1 million, or $0.96 per common share. The official reports by the company and the real facts contradict a lot. The investors reported that the AE Company sucks and they had to face big losses.

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