<PAGE>   1

                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                                    FORM 10-Q


(Mark One)


[X]   Quarterly report pursuant to Section 13 or 15 (d) of the Securities
                              Exchange Act of 1934

                 For the quarterly period ended June 30, 1999 or

[ ]   Transition report pursuant to Section 13 or 15 (d) of the Securities
                              Exchange Act of 1934

              For the transition period from          to
                                             --------    ---------

                          Commission File Number 1-7908
                                                --------

                         ADAMS RESOURCES & ENERGY, INC.
                         ------------------------------
             (Exact name of Registrant as specified in its charter)

                    Delaware                            74-1753147
           ------------------------------             -----------------
          (State or other jurisdiction of            (I.R.S. Employer
          incorporation or organization)             Identification No.)


                      5 Post Oak Park, Houston, Texas 77027
                ------------------------------------------------
               (Address of principal executive office & Zip Code)


        Registrant's telephone number, including area code (713) 881-3600

     Indicate by check mark whether the Registrant (1) has filed all reports
required to be filed by Section 13 or 15 (d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days.

                                                Yes   X    No
                                                     ---      ---

The number of shares of Common Stock of the Registrant, par value $.10 per
share, outstanding at August 5, 1999 was 4,217,596.


<PAGE>   2



                 ADAMS RESOURCES & ENERGY, INC. AND SUBSIDIARIES
                 UNAUDITED CONSOLIDATED STATEMENT OF OPERATIONS
                      (IN THOUSANDS, EXCEPT PER SHARE DATA)

<TABLE>
<CAPTION>
                                                          Six Months Ended                 Three Months Ended
                                                              June 30,                           June 30,
                                                    ----------------------------      ----------------------------
                                                        1999             1998             1999             1998
                                                    -----------      -----------      -----------      -----------
<S>                                                 <C>              <C>              <C>              <C>
Revenues:
  Marketing ...................................     $ 1,271,829      $   860,706      $   756,563      $   454,329
  Transportation ..............................          16,925           16,992            9,074            8,329
  Oil and Gas .................................           1,716            3,516              863            1,920
                                                    -----------      -----------      -----------      -----------
                                                      1,290,470          881,214          766,500          464,578
                                                    -----------      -----------      -----------      -----------

Costs and expenses:
  Operating
   Marketing ..................................       1,265,914          856,572          752,553          452,099
   Transportation .............................          15,229           14,890            7,996            7,356
   Oil and gas ................................           1,052            1,939              343            1,637
  Corporate general and administrative ........           1,427            1,157              703              614
  Depreciation, depletion and amortization ....           3,295            4,252            1,509            2,059
                                                    -----------      -----------      -----------      -----------
                                                      1,286,917          878,810          763,104          463,765
                                                    -----------      -----------      -----------      -----------

Operating earnings ............................           3,553            2,404            3,396              813

Other income (expense)
  Property sales and other ....................             705              108               39               --
  Interest ....................................             (43)            (146)             (13)             (81)
                                                    -----------      -----------      -----------      -----------
                                                            662              (38)              26              (81)
                                                    -----------      -----------      -----------      -----------

Earnings before income taxes ..................           4,215            2,366            3,422              732
Income tax provision
  Current .....................................             234              702              189              208
  Deferred ....................................             900              200              771              100
                                                    -----------      -----------      -----------      -----------
                                                          1,134              902              960              308
                                                    -----------      -----------      -----------      -----------

Net earnings ..................................     $     3,081      $     1,464      $     2,462      $       424
                                                    ===========      ===========      ===========      ===========
Basic and diluted net earnings
  per common share ............................     $       .73      $       .35      $       .58      $       .10
                                                    ===========      ===========      ===========      ===========
Dividends per common share ....................     $        --      $        --      $        --      $        --
                                                    ===========      ===========      ===========      ===========
</TABLE>

   The accompanying notes are an integral part of these financial statements.

                                       -2-
<PAGE>   3


               MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
                       CONDITION AND RESULTS OF OPERATIONS


     Results of Operations

              -   Marketing

              Marketing division revenues, operating earnings and significant
operating statistics were as follows (in thousands except price information):

<TABLE>
<CAPTION>
                                                   Six Months Ended              Three Months Ended
                                                      June 30,                        June 30,
                                             --------------------------    --------------------------
                                                  1999         1998            1999           1998
                                             -----------    -----------    -----------    -----------
<S>                                          <C>            <C>            <C>            <C>
               Revenues                      $1,271,829     $  860,706     $  756,563     $  454,329

               Operating earnings            $    4,269     $    2,577     $    3,195     $    1,452


               Volume/Price Information:
                  Wellhead Purchases           195 Bbls       111 Bbls       220 Bbls       105 Bbls
                     Per day (1)
                  Average Crude
                     Oil Price per Bbl       $    15.51     $    13.39     $    13.41     $    12.48
</TABLE>

          (1) Reflects the volume of crude oil purchased from third parties at
              the lease level and shipped to market.


              Second quarter 1999 marketing revenues were $756,563,000 a 66%
     increase over the comparative 1998 period. The revenue growth resulted from
     increased purchase volumes together with rising crude oil prices. While
     marketing volumes were increasing, marketing operating earnings were
     increasing at a faster rate due to improved margins. The general trend for
     crude prices caused margins to increase in the current period. During the
     second quarter of 1999, the Company was selling its crude oil inventory
     into a rising marketplace while during the second quarter of 1998,
     inventory was sold into a market experiencing declining prices.


                                       -3-
<PAGE>   4



              -   Transportation

       Transportation revenues and operating earnings were as follows (in
     thousands):

<TABLE>
<CAPTION>
                                        Six Months Ended      Increase        Three Months Ended       Increase
                                            June 30,         (Decrease)           June 30,            (Decrease)
                                      -------------------     --------      --------------------       --------
                                        1999        1998                      1999        1998
                                      -------     -------                   -------     -------
<S>                                   <C>         <C>           <C>         <C>         <C>               <C>
               Revenues               $16,925     $16,992        --         $ 9,074     $ 8,329           9%

               Operating earnings     $ 1,198     $ 1,659       (28%)       $   815     $   740          10%
</TABLE>

              During the second quarter of 1999, the Company began to experience
     an increase in the demand for its petrochemical trucking services. Trucking
     revenues improved to $9,074,000 in the current quarter versus $8,329,000 in
     the prior year period. The revenue increase caused operating earnings to
     improve by 10% to $815,000 for the second quarter of 1999. Trucking
     operations have not experienced the level of demand originally anticipated
     for 1999. In addition, higher fuel prices and driver wage scales have
     served to stymie earnings growth.


              -   Oil and Gas

              Oil and gas division revenues and operating earnings are primarily
     a function of crude oil and natural gas prices and volumes. Comparative
     amounts are as follows (in thousands except price information):

<TABLE>
<CAPTION>
                                               Six Months Ended         Three Months Ended
                                                   June 30,                  June 30,
                                               ----------------         ------------------
                                                1999      1998            1999      1998
                                               -------  -------         -------   --------
<S>                                            <C>      <C>             <C>       <C>
              Revenues                         $ 1,716  $ 3,516         $   863   $  1,920

              Operating earnings (loss)        $  (487) $  (675)        $    89   $   (765)


              Volume/Price Information:
                Crude oil
                  Volume                        21 Bbls   36 Bbls        11 Bbls   19 Bbls
                  Average price per Bbl        $  12.42 $   13.75       $  14.23  $  13.03

                  Natural gas
                    Volume                      860 Mcf  1,625 Mcf       410 Mcf   825 Mcf
                    Average price per Mcf      $   1.71 $    1.95       $   1.75  $   1.99
</TABLE>

              Oil and gas revenues totaled $863,000 for the second quarter of
     1999 as compared to


                                       -4-
<PAGE>   5
     $1,920,000 for the similar 1998 period. Reduced revenues were caused by
     normal declining natural gas production volumes which fell to 410,000 Mcf
     in the current quarter compared to 825,000 Mcf in the prior year period.
     Comparative divisional operating earnings were improved, however, to
     $89,000 against a prior period operating loss of $765,000. Last year's
     operating loss resulted from $1,044,000 of seismic geophysical costs
     incurred and expensed by the Company. Such expenditures are periodically
     necessary in an effort to locate new reserves.

              The Company plans to participate in the drilling of 21 wells
     during the second half of 1999. Sixteen of the wells will be development
     wells, ten of which will test "bright spot" amplitudes defined by 3-D
     seismic surveys in two producing fields. Four of the five exploratory wells
     will test "bright spot" amplitudes identified on two large 3-D shoots
     conducted last year in Willacy and Matagorda Counties of Texas. Estimated
     costs to be incurred by the Company in 1999 are approximately $2.7 million.
     Funding for these projects will come from current cash flow. In addition,
     the Company has taken an interest in a large acreage position in Fort Bend
     County, Texas where a 3-D survey had recently been completed. Coupled with
     the 1999 efforts, these prospects are expected to provide additional
     drilling opportunities into the year 2000.

       Depreciation, depletion, and amortization

              The provision for depreciation, depletion and amortization is
     reduced in the current quarter due to lower oil and gas production volumes.

              -   Other income (expense)

              Property sales and other income of $705,000 and $108,000,
     respectively, resulted primarily from gains realized on the sale of
     forty-five truck tractors in the first quarter of 1999 and from the sale of
     a former gasoline service station location during the first quarter of
     1998. Interest expense is reduced in 1999 because the Company used its
     excess cash flow to reduce its level of long-term debt.


     Liquidity and Capital Resources

              Cash flow from operations before working capital items for the
     first six months of 1999 totaled $6,660,000. The portion of cash flow
     invested in transportation operations totaled $945,000, while marketing
     equipment additions totaled $1,020,000 and $266,000 went toward oil and gas
     drilling. The remaining $4.4 million of cash flow before working capital
     items served to bolster cash reserves. As business continues to grow, the
     availability of trade credit becomes increasingly critical to the success
     of the Company's operation. Thus, management places great importance on
     maintaining a strong liquid balance sheet.

              Refer to the "Liquidity and Capital Resources" section of the
     Company's Annual Report on Form 10-K for the year ended December 31, 1998
     for additional discussion of the Company's bank relationships and other
     matters.


                                       -5-
<PAGE>   6



         Year 2000

              Many currently installed computer systems and software products
     are coded to accept only two digit entries in the date code field.
     Beginning in the year 2000, these date code fields will need to accept
     four-digit entries to distinguish 21st century dates from 20th century
     dates. As a result, computer systems and software used by many companies
     may need to be upgraded to comply with such "Year 2000" requirements.
     Significant uncertainty exists concerning the potential effects associated
     with such compliance, but systems that do not properly recognize such
     information could generate erroneous data or cause a system to fail.

         The Company has completed a review of its key computer systems and is
     in the process of implementing certain new operating systems applications
     necessary to resolve potential year 2000 compliance issues. Many of the
     Company's operating and financial systems are already compliant. The
     Company's remaining operating and financial systems are scheduled for
     compliance in phases and will be compliant by the year 2000.

         The Company has communicated with software vendors, business partners
     and others with which it conducts business to provide assurances that their
     systems will be year 2000 compliant. Adams could be adversely affected by
     the failure of these unaffiliated companies to adequately address the year
     2000 issue. Contingency planning will be included in this assessment to
     identify arrangements to mitigate the impact of disruptions from outside
     sources.

         As of June 30, 1999, the Company had incurred and expensed
     approximately $175,000 of costs to become year 2000 compliant. An
     additional $25,000 is expected to be incurred and expensed during the
     remainder of 1999 in order to complete this project.


                                       -6-
<PAGE>   7



                 ADAMS RESOURCES & ENERGY, INC. AND SUBSIDIARIES
                           CONSOLIDATED BALANCE SHEET
                                 (IN THOUSANDS)

<TABLE>
<CAPTION>
                                                                June 30,         December 31,
                                                                 1999                1998
                                                              -----------        -----------
                                                              (Unaudited)
ASSETS
<S>                                                            <C>               <C>

Current assets:
  Cash and cash equivalents ...........................        $  14,003         $    10,215
  Accounts receivable, net ............................          112,459              73,864
  Inventories .........................................           10,545               8,288
  Prepaid and other ...................................            1,478                 801
                                                               ---------         -----------

                Total current assets ..................          138,485              93,168
                                                               ---------         -----------

Property and equipment ................................           64,834              64,019
  Less - accumulated depreciation,
         depletion and amortization ...................          (38,759)            (36,226)
                                                               ---------         -----------
                                                                  26,075              27,793
                                                               ---------         -----------

Other assets ..........................................            1,373               1,373
                                                               ---------         -----------
                                                               $ 165,933         $   122,334
                                                               =========         ===========

LIABILITIES AND SHAREHOLDERS' EQUITY

Current liabilities:
  Accounts payable ....................................        $ 117,048         $    78,444
  Accrued and other liabilities .......................            5,508               3,869
                                                               ---------         -----------

         Total current liabilities ....................          122,556              82,313

Long-term debt, less current maturities ...............            8,500               9,100
Deferred taxes and other liabilities ..................            1,740                 865
                                                               ---------         -----------
                                                                 132,796              92,278

Shareholders' equity:
  Preferred stock - $1.00 par value, 960,000 shares
      authorized, none outstanding ....................               --                  --
  Common stock - $.10 par value, 7,500,000
      shares authorized, 4,217,596 shares
      outstanding .....................................              422                 422
  Contributed capital .................................           11,693              11,693
  Retained earnings since December 31, 1992 ...........           21,022              17,941
                                                               ---------         -----------
         Total shareholders' equity ...................           33,137              30,056
                                                               ---------         -----------
                                                               $ 165,933         $   122,334
                                                               =========         ===========
</TABLE>


              The accompanying notes are an integral part of these
                             financial statements.


                                       -7-
<PAGE>   8



                 ADAMS RESOURCES & ENERGY, INC. AND SUBSIDIARIES
                 UNAUDITED CONSOLIDATED STATEMENT OF CASH FLOWS
                                 (IN THOUSANDS)

<TABLE>
<CAPTION>
                                                                      Six Months Ended
                                                                          June 30,
                                                                  ----------------------
                                                                    1999          1998
                                                                  --------      --------
<S>                                                               <C>           <C>
CASH PROVIDED (USED) BY OPERATIONS:
  Net earnings ..............................................     $  3,081      $  1,464
  Items of income not requiring (providing) cash -
    Depreciation, depletion and amortization ................        3,295         4,252
    Deferred income tax provision ...........................          900           200
    Gain on sale of properties ..............................         (590)          (61)
    Other, net ..............................................          (26)         (376)
  Decrease (increase) in accounts receivable ................      (38,595)       22,200
  Decrease (increase) in inventories ........................       (2,257)         (955)
  Decrease (increase) in prepaid and other ..................         (677)          487
  Increase (decrease) in accounts payable ...................       38,604       (25,343)
  Increase (decrease) in accrued liabilities ................        1,639          (512)
                                                                  --------      --------

    Net cash provided (required) by operating activities ....        5,374         1,356
                                                                  --------      --------

INVESTING ACTIVITIES:
  Property and equipment additions ..........................       (2,231)       (4,462)
  Proceeds from property sales ..............................        1,245            95
                                                                  --------      --------

    Net cash provided by (used in) investing activities .....         (986)       (4,367)
                                                                  --------      --------

FINANCING ACTIVITIES:
  Repayment of debt .........................................         (600)         (235)
                                                                  --------      --------

    Net cash provided by (used in) financing activities .....         (600)         (235)
                                                                  --------      --------

Increase (decrease) in cash and cash equivalents ............        3,788        (3,246)

Cash at beginning of period .................................       10,215         6,496
                                                                  --------      --------

Cash at end of period .......................................     $ 14,003         3,250
                                                                  ========      ========

Supplemental disclosure of cash flow information:

  Interest paid during the period ...........................     $     43      $    146
                                                                  ========      ========

  Income taxes paid during the period .......................     $    141      $    513
                                                                  ========      ========
</TABLE>

              The accompanying notes are an integral part of these
                             financial statements.



                                       -8-
<PAGE>   9



                 ADAMS RESOURCES & ENERGY, INC. AND SUBSIDIARIES
                               NOTES TO UNAUDITED
                        CONSOLIDATED FINANCIAL STATEMENTS


Note 1 - Basis of Presentation

         The accompanying condensed consolidated financial statements are
unaudited but, in the opinion of the Company's management, include all
adjustments (consisting of normal recurring accruals) necessary for a fair
presentation of financial position at June 30, 1999 and December 31, 1998 and
results of operations and cash flows for the six months ended and three months
ended June 30, 1999 and 1998. Certain information and note disclosures normally
included in annual financial statements prepared in accordance with generally
accepted accounting principles have been condensed or omitted pursuant to
Securities and Exchange Commission rules and regulations, although the Company
believes the disclosures made are adequate to make the information presented not
misleading. It is suggested that these condensed consolidated financial
statements be read in conjunction with the financial statements, and the notes
thereto, included in the Company's latest annual report on Form 10-K. The
interim statement of operations is not necessarily indicative of results to be
expected for a full year.

Note 2 - Segment Reporting

         The Company adopted SFAS No. 131, "Disclosures about Segments of an
Enterprise and Related Information" effective January 1, 1998. Under this new
standard, companies are required to report certain information about operating
segments in consolidated statements. Operating segments are determined based on
the method by which management organizes its business for making operating
decisions and assessing performance.


                                      -9-
<PAGE>   10



                 ADAMS RESOURCES & ENERGY, INC. AND SUBSIDIARIES
                               NOTES TO UNAUDITED
                        CONSOLIDATED FINANCIAL STATEMENTS

         The Company is primarily engaged in the business of crude oil and
petroleum products marketing, transportation, and oil and gas exploration and
production. Information concerning the Company's various business activities is
summarized as follows (in thousands):

<TABLE>
<CAPTION>
                                                                                                 Depreci-
                                                                                                  ation,
                                                                               Earnings          Depletion        Property
                                                                               (Loss)              and              and
                                                                                from              Amorti-        Equipment
                                                                Revenues      Operations          zation         Additions
                                                               ----------     ----------         ----------     ----------
<S>                                                            <C>            <C>                <C>            <C>
For the six months ended
June 30, 1999
   Marketing .............................................     $1,271,829     $    4,269         $    1,646     $    1,020
   Transportation ........................................         16,925          1,198                498            945
   Oil and gas ...........................................          1,716           (487)             1,151            266
                                                               ----------     ----------         ----------     ----------
                                                               $1,290,470     $    4,980         $    3,295     $    2,231
                                                               ==========     ==========         ==========     ==========

For the six months ended
June 30, 1998
   Marketing .............................................     $  860,706     $    2,577         $    1,556     $    1,747
   Transportation ........................................         16,992          1,659                444          1,458
   Oil and gas ...........................................          3,516           (675)(1)          2,252          1,257
                                                               ----------     ----------         ----------     ----------
                                                               $  881,214     $    3,561         $    4,252     $    4,462
                                                               ==========     ==========         ==========     ==========

For the three months ended
June 30, 1999
   Marketing .............................................     $  756,563     $    3,195         $      815     $      808
   Transportation ........................................          9,074            815                263            423
   Oil and gas ...........................................            863             89                431            134
                                                               ----------     ----------         ----------     ----------
                                                               $  766,500     $    4,099         $    1,509     $    1,365
                                                               ==========     ==========         ==========     ==========

For the three months ended
June 30, 1998
   Marketing .............................................     $  454,329     $    1,452         $      777     $      919
   Transportation ........................................          8,329            740                234          1,044
   Oil and gas ...........................................          1,920           (765)(1)          1,048            459
                                                               ----------     ----------         ----------     ----------
                                                               $  464,578     $    1,427         $    2,059     $    2,422
                                                               ==========     ==========         ==========     ==========
</TABLE>

(1)  Includes a $1,044,000 comparative earnings decrease caused by the Company
     expensing certain 3-D seismic geophysical costs.


                                      -10-
<PAGE>   11



                 ADAMS RESOURCES & ENERGY, INC. AND SUBSIDIARIES
                               NOTES TO UNAUDITED
                        CONSOLIDATED FINANCIAL STATEMENTS

         Identifiable assets by industry segment are as follows:

<TABLE>
<CAPTION>
                                      June 30,        December 31,
                                        1999             1998
                                      --------        ------------
<S>                                   <C>             <C>
Marketing ....................        $126,910        $     86,510
Transportation ...............          14,061              13,947
Oil and gas ..................           9,258              10,227
Other ........................          15,704              11,650
                                      --------        ------------
                                      $165,933        $    122,334
                                      ========        ============
</TABLE>

         Intersegment sales are insignificant. Other identifiable assets are
primarily corporate cash, accounts receivable, and properties not identified
with any specific segment of the Company's business. All sales by the Company
occurred in the United States.

         Earnings from operations by segment represent revenues less operating
costs and expenses and depreciation, depletion and amortization and are
reconciled to earnings from operations before income taxes, as follows (in
thousands):

<TABLE>
<CAPTION>
                                                 Six months ended       Three months ended
                                                    June 30,                 June   30,
                                               1999         1998         1999         1998
                                             -------      -------      -------      -------
<S>                                          <C>          <C>          <C>          <C>
Earnings from operations ...............     $ 4,980      $ 3,561      $ 4,099      $ 1,427
General and administrative expenses ....      (1,427)      (1,157)        (703)        (614)
Property sales and other ...............         705          108           39           --
Interest expense .......................         (43)        (146)         (13)         (81)
                                             -------      -------      -------      -------
Earnings before income taxes ...........     $ 4,215      $ 2,366      $ 3,422      $   732
                                             =======      =======      =======      =======
</TABLE>

 Note 3 - Recent Accounting Pronouncements

         In June 1998, the Financial Accounting Standards Board issued Statement
of Financial Accounting Standards ("SFAS") No. 133, "Accounting for Derivative
Instruments and Hedging Activities." The Statement establishes accounting and
reporting standards requiring that every derivative instrument (including
certain derivative instruments embedded in other contracts) be recorded in the
balance sheet as either an asset or liability measured at its fair value. The
Statement requires that changes in the derivative's fair value be recognized
currently in earnings unless specific hedge accounting criteria are met.
Qualifying hedges allow a derivative's gains and losses to offset related
results on the hedged item in the income statement, and requires that a company
must formally document, designate, and assess the effectiveness of transactions
that

                                     - 11 -
<PAGE>   12


receive hedge accounting. SFAS No. 133 is effective for fiscal years beginning
after June 15, 2000. The standard cannot be applied retroactively but early
adoption is permitted. The Company has not yet determined the impacts of
adopting SFAS No. 133; however, this standard could increase volatility in
earnings and shareholder's equity through other comprehensive income.

         On January 1, 1999 the Company adopted the Emerging Issues Task Force's
(EITF) Issue 98-10, "Accounting for Contracts Involved in Energy Trading and
Risk Management Activities." Issue 98-10 is effective for fiscal years beginning
after December 15, 1998, and requires energy trading contracts (as defined) to
be recorded at fair value on the balance sheet, with the change in fair value
included in earnings. The effect of initial adoption on January 1, 1999 was not
significant. The accompanying statement of operations includes a net charge of
$471,000 to reflect a loss in marketing revenues for the current period relating
to such activities. The accompanying balance sheet reflects the fair value of
the trading asset or $424,000 in other current assets and the fair value of the
trading liability or $895,000 in current liabilities.


                                     - 12 -
<PAGE>   13


                           PART II. OTHER INFORMATION

Item 1. - None

Item 2. - None

Item 3. - None

Item 4. - None


Item 6.  Exhibits and Reports on Form 8K

a.       Exhibits - None.
b.       Reports on Form 8-K - None.


                                     - 13 -

<PAGE>   14


         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 thereunto duly authorized.



                                               ADAMS RESOURCES & ENERGY, INC.
                                               (Registrant)


Date:    August 5, 1999                        By  /s/ K. S. Adams, Jr.
                                                  -----------------------------
                                                   K. S. Adams, Jr.
                                                   Chief Executive Officer



                                               By  /s/ Richard B. Abshire
                                                  -----------------------------
                                                    Richard B. Abshire
                                                    Chief Financial Officer


                                     - 14 -

<PAGE>   15


                                  EXHIBIT INDEX


<TABLE>
<CAPTION>
Exhibit
Number             Description
-------            -----------
<S>                <C>
27*      -         Financial Data Schedule
</TABLE>

----------------------
*  - Filed herewith