DAR
Darling Ingredients Inc.35.03
-1.16-3.21%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Policy nuance, Food momentum highlighted
Q&A held firm on no full DGD guidance until RVO clarity, backing 5.25-5.61 billion gallon mandates as highly constructive while noting LCFS bank depletion as a tailwind. Food segment details emerged: destocking cleared globally, NexData gaining repeat orders, Brain Health product eyed for summer. Brazil Potense assets lauded for synergies amid booming tonnage. Analysts pressed on RVO sensitivity, DGD volumes, and asset sales; management stayed vague on sales but prioritized debt paydown. Q&A adds policy color, not drama. Momentum builds cautiously.
Key Stats
Market Cap
5.54BP/E (TTM)
52.28Basic EPS (TTM)
0.67Dividend Yield
0%Recent Filings
10-K
FY2026 results
Darling Ingredients posted FY2026 net sales of $6.1B, up 7.4% y/y, with Feed Ingredients driving $315M growth on higher fat prices (BFT +21.0%, YG +3.7%) and 1.7% raw material volume gains to 12.68M metric tons. Food Ingredients added $56M on 7.0% volume growth, while Fuel Ingredients rose 9.2% despite DGD's Q4 catalyst turnarounds and idling. Q4 fats accelerated q/q (MBM +3.8%, PM +7.1%, FM +9.2%), but YG/BFT softened; margins expanded to 24.0% overall. Feed/Food restructuring hit $58M; liquidity strong at $1.3B revolver availability. No annual guidance disclosed. Supplier concentration risks persist.
8-K
Mize retires; Aspell joins board
Darling Ingredients announced Gary Mize's retirement from the board effective at the 2026 Annual Meeting after serving since 2016 as Lead Director. The board immediately expanded to eleven members and elected independent director Robert Aspell, a 40-year Cargill veteran, to the Audit Committee. Aspell brings global agribusiness expertise in supply chains and M&A. Board gains fresh oversight.
8-K
Q4 EBITDA up, profits down
Darling Ingredients posted Q4 net income of $56.9M on $1.7B sales, down from $101.9M on $1.4B last year, hit by $58M restructuring charges in Enviroflight and CTH units. Yet combined adjusted EBITDA climbed 16% to $336.1M, fueled by feed and food gains; full-year hit $1.03B. Leverage dropped to 2.90X. Core ingredients Q1 guide: $240-250M EBITDA.
8-K
DGD Q4 profit, FY loss
Darling Ingredients disclosed its 50/50 Diamond Green Diesel JV posted Q4 2025 net income of $55 million, shipping 285.3 million gallons of renewable fuels, yet full-year net loss hit ($68) million on 1.003 billion gallons. Darling's share of DGD Adjusted EBITDA reached $58 million ($0.41/gallon) quarterly, $104 million ($0.21/gallon) annually. DGD rebounded sharply. Full results due February 11.
8-K
DAR-Tessenderlo JV signed
Darling Ingredients signed a definitive agreement on December 10, 2025, with Tessenderlo Group to form a joint venture combining their collagen and gelatin businesses into NewCo, taking an 85% stake while Tessenderlo gets 15%. No cash changes hands; the new entity starts with ~$1.5B annual revenue and 200,000 metric tons capacity across 22 facilities. Synergies loom large. Closing awaits 2026 regulatory nods.
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