Fuchs Petrolub AG posted a gain in earnings for 2007s first nine months, while Calumet Specialty Products Partners LP reported a steep drop for the third quarter. Fuchs said strong growth in gross profit and slower growth in expenses helped raise its net profit for the first nine months by 21 percent compared to the same period last year. Specialty refiner Calumet pointed to lower gross profit and the rising cost of crude as underlying reasons for a 74 percent earnings decrease compared to the year-ago period.
Calumet reported net income of $9.5 million for the quarter ending Sept. 30, down from $36.1 million in the same period in 2006. Sales revenue for the quarter declined 4 percent to $428 million.