Calumet Specialty Products Partners and independent lubricant blender Fuchs Petrolub each posted increases in net income and sales for the second quarter, compared to the year earlier quarter.
Calumet reported $65.7 million net income for the quarter ending June 30, compared to a $7.7 million net loss in 2011s second quarter.
Sales for Indianapolis-headquartered Calumet reached nearly $1.1 billion, up 48 percent from $733.8 million in the year earlier period.
Our quarterly results were driven by strength in both our specialty and fuel products segments, said Calumet CEO Bill Grube.
Second quarter specialty products sales volumes reached 38,352 barrels per day, up 24.7 percent from 2011s second quarter. Calumets second quarter specialty products segment sales volumes included 15,524 b/d of lubricating oils, 10,189 b/d of solvents and 1,234 b/d of waxes.
Fuchs Petrolub Group reported net profit of 50.4 million (U.S. $61.3 million) for the second quarter, up 13.3 percent from 44.5 million during 2011s second quarter.
Overall, Fuchs posted a record 461.6 million in sales revenues for the second quarter, up 11.3 percent from 2011s second quarter. The company attributed the increase to quantity, price and currency effects.
Mannheim, Germany-based Fuchs regions grew in revenue during the second quarter, compared to the same period last year. During 2012s second quarter, revenue increased 7.7 percent to 277.5 million in Europe, grew 19.3 percent to 121.6 million in Asia-Pacific and Africa, and grew 17.9 percent to 81.6 million in North and South America.
In the regions, the companies in North America, China, Australia, South Africa, Russia, Great Britain and Germany in particular recorded appreciable increases in sales revenues, Fuchs said.
Raw material costs, which rose considerably at the end of 2011 and the start of 2012, remain at a high level with the exception of base oil prices, the company noted.