August 1, 2018
Volume 3 Issue 4
Q2 Earnings: HCC, Quaker Chemical, Milacron
Heritage-Crystal Clean’s oil business segment—which includes used oil collection activities, sales of recycled fuel oil and re-refining activities—posted $35.9 million in total revenue for the quarter ending June 16, a 14.6 percent jump from $31.3 million in the year-earlier period.
The Elgin, Illinois-based rerefiner cited in its earnings news release stronger base oil pricing and higher volumes of base oil gallons sold as reasons for the segment’s revenue increase.
The company’s oil business segment also posted an operating margin of $4.7 million, or 13 percent, a record-high for HCC. Improved catalyst utilization at its rerefinery in Indianapolis and better leveraging of labor and maintenance costs led to the record operating margin, according to the company’s release.
“During the second quarter, record breaking production at our rerefinery allowed us to generate the highest oil business segment operating margin since we began producing base oil at the rerefinery,” HCC President and CEO Brian Recatto said.
Conshohocken, Pennsylvania-based Quaker Chemical reported net sales of $222 million in the second quarter ending 2018, a 10 percent increase from $201.2 million reported in the same period last year.
Net income leaped to $19.4 million, compared to the $12.3 million net income made in the year-earlier period, for the quarter.
The fluids and chemicals producer cited increases in volume, selling price and product mix, and foreign exchange as reasons for the increases.
Milacron’s Fluid Technologies segment, which supplies metalworking and industrial fluids, reported operating earnings of $6.4 million for its second quarter ending June 30, up 16.4 percent from $5.5 million in the same period last year.
Sales for the segment totaled $33.6 million for the Cincinnati-based plastic processing company, an increase of 10.1 percent of the $30.5 million reported from the second quarter of 2017.