Adams Resources & Energy Q2 2024 GAAP EPS $(0.87) Misses $(0.17) Estimate, Sales $718.493M Beat $656.413M Estimate
Portfolio Pulse from Benzinga Newsdesk
Adams Resources & Energy (AMEX:AE) reported Q2 2024 GAAP EPS of $(0.87), missing the $(0.17) estimate by 411.76%. However, sales of $718.493M beat the $656.413M estimate by 9.46%, marking a 15% increase from the same period last year.
August 07, 2024 | 9:38 pm
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NEUTRAL IMPACT
Adams Resources & Energy reported a significant EPS miss but a notable sales beat for Q2 2024. The EPS of $(0.87) missed the $(0.17) estimate by a wide margin, while sales of $718.493M exceeded expectations by 9.46% and increased 15% YoY.
The significant EPS miss is likely to negatively impact investor sentiment, but the strong sales beat and year-over-year growth may offset some of the negative impact. Overall, the stock may experience volatility but is likely to remain neutral in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100