Financial results posted the past week spotlighted diverging fortunes for two of the lubricant industrys major players. Valvolines earnings for the three months ended Dec. 31 dropped 93 percent from the same period of a year earlier. Meanwhile, Afton Chemical Corp. helped the continued recovery of its parent company by recording a 44 percent earnings gain for all of 2005.
Valvoline parent company Ashland Inc. said Jan. 25 that the motor oil marketer had operating earnings of $1 million for the three months ended Dec. 31 – the first quarter of Ashlands fiscal year – down from $13 million for the same period a year ago. (The numbers for both periods reflect an accounting change in the way Ashland allocates corporate expenses to Valvoline and its other three divisions.)