The pandemic affected different companies in the lubricants industry differently. Which ones emerged triumphant, and which ones took a few hits?
(Editor’s note: For purposes of comparison, all financial results covered in this article are given in U.S. dollars. Currency conversions, where needed, were calculated in mid-April at then-current rates. All results are for the 2020 calendar year, even for companies operating on different fiscal years. For companies with significant operations in other sectors, results shown are for units focused on lubricants or base stocks.)
The COVID-19 pandemic caused generational upheaval to economies and industries around the world, the lubricants industry included, destroying demand, disrupting supply chains and creating stiff new challenges to operations and employee safety. When the crisis began, analysts forecast that 2020 would be a dark year for many companies.