Valvoline, Ashland's Consumer Markets segment, last Tuesday reported strong results versus the year ago period, with higher earnings driven by lower raw-material costs and a 13-percent volume increase within the international business.

While overall sales increased 1 percent, to $481 million, earnings (EBITDA) rose 34 percent, to $75 million. EBITDA as a percent of sales was 15.6 percent, an increase of 380 basis points versus the year ago quarter.

For the quarter, which is the first quarter of Ashland’s fiscal year, Valvoline's lubricant sales volume was 37.1 million gallons, up slightly from 36.7 million gallons in the same quarter in 2011.

Parent company, Ashland Inc. reported preliminary operating income of $176 million for the quarter ended December 31, 2012 compared to $144 million for the quarter ended December 31, 2011, on revenues of $1.9 billion.