Q1: Fuchs, Quaker Up; Milacron Down

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Lubricant suppliers Fuchs Petrolub and Quaker Chemical reported strong earnings for the quarter ending March 31, while Milacrons Industrial Fluids segment saw a decline in earnings but an increase in sales.

Fuchs
Fuchs Petrolub AG, the worlds largest independent lubricant manufacturer, yesterday reported net profits of 32.1 million (U.S. $49.9 million) for the quarter ending March 31, up 18.9 percent from 27 million in the year-earlier period.

Sales revenues for the first quarter totaled 350.7 million, up 3.4 percent from 339.2 million in 2007s first quarter.

The sales revenue growth came predominantly from Germany, Eastern Europe, the Middle East and China, Fuchs Executive Board Chairman Stefan Fuchs said in a letter to shareholders accompanying the quarterly report.

Sales revenues for Mannheim, Germany-based Fuchs grew by 4.2 percentin Europe, and by 11 percent in the Asia-Pacific, and Africa region, compared to 2007s first quarter. In North and South America, revenue declined by 11.7 percent compared to the year earlier period.

The Fuchs quarterly report explained, the weak U.S. dollar had the effect of reducing sales revenue when converted to the Group currency of the euro. That resulted in a fall in sales revenues for the North and South American regions of 6.4 million.

Quaker Chemical
Conshohocken, Pa.-based Quaker Chemical on April 29said its net income reached$5.1 million for the first quarter, up 44 percent from $3.5 million in 2007s first quarter.

We achieved improvement in operating income as a percentage of sales to over 6 percent, despite the headwinds of rapidly escalating raw material costs, said Ronald Naples, chairman and chief executive officer of Quaker Chemical.

First-quarter sales reached $147.7 million, up 18.3 percent from $124.9 million in the year-earlier period. The company attributed the increase to volume growth, higher sales prices and foreign exchange rate translation.

Volume growth was realized in virtually all the companys regions, including higher revenue related to the companys chemical management services channel, Naples said. Selling price increases were realized, in part, as a result of an ongoing effort to offset higher raw material costs.

Milacron
Milacrons Industrial Fluids segment, which supplies metalworking and industrial fluids, yesterday reported net income of $2.9 million for the first quarter, down 12.1 percent from $3.3 million in 2007s first quarter. First-quarter sales reached $32 million, up 6.7 percent from $30 million in the year-earlier period.

This segment continues to expand its presence in emerging markets and plans on posting higher sales and operating earnings in the second quarter, Milacron said of the Industrial Fluids segment.

Overall, Cincinnati-based Milacron posted a net loss of $6.9 million, compared to a net loss of $10.8 million in 2007s first quarter. The year-earlier periods net loss included $2.4 million in restructuring charges.

Ronald Brown, Milacrons chairman, president and chief executive officer, said the company continues togrow outside the United States. Our sales to non-U.S. markets grew another 12 percent in the quarter and now account for half of our total, Brown said.

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