Several lubricant and additive companies this week reported year-end financial results that, while lackluster, hint at the beginnings of a rebound for the industry.
Pennzoil-Quaker State Co. ended 2001 in the red but showed improved results for continuing operations and projected further improvement in 2002. Lubrizol Corp. reported record revenue but lower profits and an uncertain outlook. Ethyl Corp. lost money but progressed on its consolidation plan while also improving continuing operations. Petro-Canada and Crompton also reported improvements in lubricants and related activities.