NewMarket Corp.s Afton Chemical petroleum additives segment posted an operating profit of $94.1 million for the second quarter, a 13.8 percent decline from a record second quarter operating profit of $109.1 million in 2014. The decrease was mainly due to an increase in research and development investments and changes in foreign currency exchange, partially offset by lower raw material costs, during the quarter, NewMarket stated in its earnings news release.

Sales for the petroleum additives segment were $557.4 million, down 9. 7 percent from a year earlier, which the company attributed mainly to foreign currency exchange and lower shipments. Shipments were down 2.3 percent between the periods, primarily due to lower shipments of our lubricant additives products in the North America region, NewMarket stated.

Valvoline

Ashland posted $107 million in operating income for its Valvoline segment during the three months ending June 30 (the third quarter of Ashlands fiscal year), up 18.8 percent from $90 million year to year. Valvolines sales revenue for the quarter declined 4.1 percent to $510 million, down from $532 million in the year-ago quarter. In its earnings release, the company said that Valvolines decline in total sales was primarily as a result of pass-through pricing from lower raw-material costs and currency headwinds.

Within Valvolines international channel, volume grew 8 percent and currency-adjusted sales rose 5 percent.

Valvolines overall mix continued to improve, Ashland stated, with U.S. premium-branded lubricant sales volume increasing to 40.8 percent of total sales volumes, up from 37.8 percent a year earlier.

Including all operations, Covington, Kentucky-based Ashland posted operating income of $196 million, on revenues of $1.4 billion

Fuchs

Fuchs Petrolub Group posted earnings after tax of 62 million (U.S. $67.9 million) during the second quarter, up 17.9 percent from 52.6 million in the year-earlier quarter.

Mannheim, Germany-based Fuchs sales revenue reached 515 million for the quarter, up 11.4 percent from 462.5 million. Compared to a year earlier, second quarter revenue increased 5.9 percent in Europe to 292.9 million, climbed 22.9 percent to 155.7 million in Asia-Pacific and Africa, and rose 12.7 percent to 87.8 million in North and South America.

The company said in its interim management report that a large number of its companies in Western as well as in Central and Eastern Europe contributed to organic growth in Europe. The acquisition made by our English company the previous year, and the conversion of the British pound to the euro also had a positive effect, Fuchs noted. Currency effects in Asia-Pacific and Africa helped lead to further organic growth in those regions, with positive currency translation largely attributed to Fuchs Chinese companies. In North and South America, organic growth recorded by companies in Mexico and Argentina in the quarter was not able to compensate for declines in the U.S., Canada and Brazil.

Fuchs noted that lubricant demand in the mature markets of Japan, Germany, Korea, France, Italy and Spain declined slightly in the first four months of 2015. The developing countries and emerging markets, on the other hand, enjoyed positive growth in the first half of 2015, albeit at a slightly lower level than in the same period of the previous year, the company stated. From todays perspective, we expect the global lubricant market to display moderate growth of just under 0.5 percent in 2015.

Chemtura

Philadelphia-headquartered Chemturas petroleum additives segment saw sales decline 15.8 percent to $158 million in the quarter, down from $183 million in 2014s second quarter.

Chemturas Industrial Performance Products net sales decreased 11.2 percent to $230 million, down from $259 million in 2014s second quarter. Products under the Industrial Performance Products segment include petroleum additives, and refrigeration and turbine lubricants, as well as synthetic lubricant base stocks and greases. The decline in second quarter of 2015 net sales compared with the prior year is primarily the result of lower selling prices and reduced customer demand for certain petroleum additive products coupled with the timing of customer orders and unfavorable changes in product mix within our urethanes business, the company stated in its earnings release.

The segments second quarter operating income increased 46.2 percent to a record $38 million, up from $26 million a year earlier. The segment was able to take advantage of lower raw material costs and solid manufacturing performance to drive earnings growth, despite lower revenues, Chemtura Chairman President and CEO Craig Rogerson said in the companys earnings news release.

Heritage-Crystal Clean

Heritage-Crystal Cleans oil business, including oil collection and rerefining, reported $30 million in sales for the quarter ending June 20, down 17.9 percent from $36.4 million in sales in the same quarter of last year. During the first half of fiscal 2015, oil business revenues decreased 3.8 percent to $61.1 million, compared to the first half of fiscal 2014.

The decrease in revenues was a result of lower selling prices for our oil-based products, the company said in its earnings news release. During the first half of fiscal 2015, the average spot market price for the Group II base oil we produce declined over 35 percent compared to the first half of fiscal 2014. The decrease was partially offset by sales of recycled fuel oil, as a result of our acquisition of [FCC Environmental].

Elgin, Ill.-based Heritage-Crystal Clean posted about $2 million in net income for its second fiscal quarter, on $82.9 million in sales or 9 cents per diluted share. That compares to $2 million in net income, on sales of $78.1 million or 10 cents per diluted share in 2014s second quarter. The company doesnt break out net income for its oil business segment.

The oil business figures reflect sales of base oil, intermediate products and byproducts from its Indianapolis rerefinery, which has 2,500 barrels per day of Group II capacity.

Quaker Chemical

Conshohocken, Pa.-based Quaker Chemical posted $15.4 million in net income for the second quarter, down 3.1 percent from $15.9 million a year earlier. The company reported net sales of $183.7 million, down 4 percent from $191.3 million in 2014s second quarter.

Foreign exchange headwinds continue to have the most significant impact on our earnings, while we were also challenged by global steel industry production being down by approximately 2 percent, Quaker Chairman, CEO and President Michael Barry said in the companys earnings news release. In addition, we are seeing continued weak economic conditions in several regional areas, especially in South America. Our sales have also seen some impact of price adjustments due to lower raw material costs.