Earnings summaries and quarterly performance for DARLING INGREDIENTS.
Executive leadership at DARLING INGREDIENTS.
Randall Stuewe
Detailed
Chief Executive Officer
CEO
Brandon Lairmore
Detailed
Executive Vice President – Darling U.S. Rendering Operations
Carlos Paz
Detailed
Executive Vice President – Global Risk Management, Ingredients
Jan van der Velden
Detailed
Executive Vice President – International Rendering and Specialties
Jeroen Colpaert
Detailed
Executive Vice President – Rousselot
John Sterling
Detailed
Executive Vice President – General Counsel and Secretary
Nick Kemphaus
Detailed
Executive Vice President – General Counsel and Secretary (effective January 4, 2026)
Patrick McNutt
Detailed
Executive Vice President – Chief Administrative Officer
Robert Day
Detailed
Chief Financial Officer
Sandra Dudley
Detailed
Executive Vice President – Renewables and Chief Strategy Officer
Board of directors at DARLING INGREDIENTS.
Research analysts who have asked questions during DARLING INGREDIENTS earnings calls.
Heather Jones
Heather Jones Research
6 questions for DAR
Also covers: ADM, BG, HRL +5 more
Manav Gupta
UBS Group
6 questions for DAR
Also covers: ADM, AMTX, BE +34 more
Matthew Blair
Tudor, Pickering, Holt & Co.
6 questions for DAR
Also covers: AMTX, CE, CLNE +19 more
Andrew Strelzik
BMO Capital Markets
4 questions for DAR
Also covers: ADM, BG, BLMN +17 more
Betty Zhang
Scotiabank
4 questions for DAR
Also covers: CLNE, OPAL, XOM
Dushyant Ailani
Jefferies
4 questions for DAR
Also covers: ADM, BE, BLDP +4 more
Jason Gabelman
TD Cowen
4 questions for DAR
Also covers: BP, CLMT, CLNE +19 more
Pooran Sharma
Stephens Inc.
4 questions for DAR
Also covers: ADM, ANDE, AVO +10 more
Thomas Palmer
Citigroup Inc.
4 questions for DAR
Also covers: ADM, BG, BRBR +14 more
Derrick Whitfield
Texas Capital
3 questions for DAR
Also covers: AMTX, ARIS, BG +21 more
Ryan Todd
Simmons Energy
3 questions for DAR
Also covers: BP, COP, CVX +9 more
Ben Kallo
Robert W. Baird & Co.
2 questions for DAR
Also covers: ALB, AMRC, BE +15 more
Ben Mayhew
BMO
2 questions for DAR
Also covers: JBS, JBSAY
Conor Fitzpatrick
Bank of America Merrill Lynch
2 questions for DAR
Also covers: CLMT, MPC, PBF
Dushyant Ajit Ailani
Jefferies LLC
2 questions for DAR
Jason Daniel Gabelman
TD Securities
2 questions for DAR
Also covers: VLO
Ryan M. Todd
Piper Sandler & Co.
2 questions for DAR
Also covers: DINO
Benjamin Kallo
Robert W. Baird & Co.
1 question for DAR
Also covers: MP, NXT, QS
Brian Sharma
Stephens Inc.
1 question for DAR
Davis Sunderland
Baird
1 question for DAR
Also covers: BE, CWT, HASI +3 more
Derrick Lee Whitfield
Texas Capital Securities
1 question for DAR
John Royall
JPMorgan Chase & Co.
1 question for DAR
Also covers: CASY, CNQ, CVE +13 more
Paul Cheng
Scotiabank
1 question for DAR
Also covers: APA, BP, CLNE +20 more
Recent press releases and 8-K filings for DAR.
Darling Ingredients Forms Collagen Gelatin Joint Venture
DAR
M&A
New Projects/Investments
- Darling Ingredients Inc. is establishing a new joint venture by combining its collagen and gelatin divisions with Tessenderlo Group's PB Leiner business, with Darling holding an 85% stake.
- The new entity is expected to generate approximately $1.5 billion in annual revenue and will operate 22 global facilities.
- This merger requires no initial financial contribution from either company and is anticipated to close in 2026, subject to regulatory approvals.
- Following the announcement, Darling Ingredients' shares experienced a 1.94% drop in after-hours trading.
Dec 10, 2025, 11:01 PM
Darling Ingredients and Tessenderlo Group Sign Definitive Agreement for New Collagen Joint Venture
DAR
M&A
New Projects/Investments
- Darling Ingredients Inc. (DAR) and Tessenderlo Group have signed a definitive agreement to form a new company by combining their collagen and gelatin segments.
- Darling Ingredients will hold an 85% majority ownership stake in the new company, with Tessenderlo Group holding 15%.
- The new entity is expected to generate approximately $1.5 billion in initial annual revenue and possess a total gelatin and collagen capacity of about 200,000 metric tons.
- The transaction is anticipated to close in 2026, pending regulatory approvals.
Dec 10, 2025, 9:39 PM
Darling Ingredients and Tessenderlo Group Sign Definitive Agreement for New Collagen Company
DAR
M&A
New Projects/Investments
- Darling Ingredients Inc. and Tessenderlo Group have signed a definitive agreement to form a new company by combining their collagen and gelatin segments, branded as Rousselot and PB Leiner, respectively.
- The new company will be majority-owned by Darling Ingredients with an 85% stake, while Tessenderlo Group will hold the remaining 15%, with no cash or initial investment required from either party.
- This new entity is expected to have an initial annual revenue of approximately $1.5 billion and a total gelatin and collagen capacity of about 200,000 metric tons across 22 facilities.
- The transaction is anticipated to close in 2026, subject to regulatory approvals.
Dec 10, 2025, 9:35 PM
Darling Ingredients Sells Additional Production Tax Credits
DAR
- Darling Ingredients sold an additional $60 million in production tax credits generated through its Diamond Green Diesel joint venture, increasing the total production tax credit sales for 2025 to approximately $185 million.
- The proceeds from the $60 million sale are anticipated by the end of 2025, contingent upon the satisfaction of specific funding conditions.
- The Diamond Green Diesel joint venture, a significant asset for Darling, has the capacity to produce over 1.2 billion gallons annually of renewable diesel and sustainable aviation fuel.
- This strategic sale is intended to strengthen Darling's financial position, as the company maintains adequate liquidity but also carries a significant debt load.
Dec 5, 2025, 2:11 AM
Darling Ingredients Reports Q3 2025 Results with Strong Core Business Performance and Challenges in Renewables Segment
DAR
Earnings
Guidance Update
Product Launch
- Darling Ingredients reported Q3 2025 combined adjusted EBITDA of $245 million and total net sales of $1.6 billion, with the core ingredients business delivering its strongest performance in a year and a half.
- The global ingredients business (feed and food segments) performed strongly, with feed segment EBITDA improving to $174 million and food segment EBITDA rising to $72 million in Q3 2025.
- The renewables business (Diamond Green Diesel - DGD) posted a negative $3 million EBITDA for Q3 2025, impacted by a $38 million lower of cost or market expense, higher feedstock costs, lower RINs and LCFS pricing, and a scheduled turnaround at DGD-3. DGD-1 remains idled.
- The company ended Q3 2025 with net debt of $4.01 billion and a bank covenant preliminary ratio of 3.65 times, with $1.17 billion available on its revolving credit facility. Management expects total debt to decrease by year-end due to cash generation and anticipated payments from $300 million in production tax credits generated in 2025.
- Despite short-term uncertainty in the renewables market due to policy delays, management is optimistic about DGD's improvement in Q4 2025 and the outlook for 2026, anticipating a shift that will enhance DGD's earnings potential.
Oct 23, 2025, 1:00 PM
Darling Ingredients Reports Q3 2025 Results with Strong Core Business and Challenged Renewables Segment
DAR
Earnings
Guidance Update
- Darling Ingredients reported Q3 2025 combined adjusted EBITDA of $245 million and total net sales of $1.6 billion.
- The core ingredients business delivered strong performance with $248 million in EBITDA, fueled by robust global demand and exceptional execution.
- The renewables business (DGD) posted a negative $3 million EBITDA, significantly impacted by a $38 million lower of cost or market (LCM) expense, LIFO, and continued delays in the Renewable Volume Obligation (RVO) ruling.
- The company's total debt net of cash was $4.01 billion as of September 27, 2025, with a bank covenant preliminary ratio of 3.65x.
- Darling Ingredients expects to generate around $300 million in production tax credits (PTCs) in 2025, anticipating payment for approximately $200 million by year-end 2025.
Oct 23, 2025, 1:00 PM
Darling Ingredients Inc. Completes Debt Refinancing
DAR
Debt Issuance
- Darling Ingredients Inc. has completed the refinancing of its long-term debt to extend maturities.
- Darling Global Finance B.V., a wholly-owned subsidiary, closed an offering of €750 million aggregate principal amount of unsecured senior notes due 2032, which bear interest at 4.5% per annum.
- The company also entered into a Third Amended and Restated Credit Agreement, providing a $2 billion revolving loan facility and a $900.0 million farm credit term loan A facility.
- Proceeds from the new notes and credit facilities were used to redeem €515.0 million of 3.625% Senior Notes due 2026 and refinance existing senior secured credit facilities.
Jun 27, 2025, 12:00 AM
Darling Ingredients prices €750 million 4.5% senior notes due 2032
DAR
Debt Issuance
- On June 18, 2025, Darling Global Finance B.V., a wholly owned subsidiary of Darling Ingredients Inc., priced an offering of €750 million aggregate principal amount of 4.5% senior notes due 2032 at 100% of par, with settlement expected on or about June 24, 2025.
- The notes are guaranteed by Darling Ingredients and its restricted subsidiaries (excluding foreign subsidiaries, receivables entities and certain other subsidiaries).
- Proceeds will be used to redeem €515 million of 3.625% senior notes due 2026, repay portions of existing senior secured credit facilities, and cover refinancing fees and expenses.
- CEO Randall C. Stuewe noted the transaction maintains the company’s blended cost of debt and extends the term of its Euro notes by seven years.
Jun 18, 2025, 12:00 AM
Darling Ingredients Raises €750M Senior Notes Offering & Plans Credit Agreement Amendment
DAR
Debt Issuance
- Darling Ingredients launches a €750 million senior notes offering to refinance its debt and amend its credit agreement, including steps to optimize its capital structure .
- The transaction involves redeeming €515 million of 3.625% Senior Notes due 2026, repaying senior secured credit facilities, and covering related costs and fees .
- The restructuring is designed to lower interest expenses and enhance liquidity, despite potential market and refinancing risks .
- On June 16, 2025, Darling Global Finance B.V., an indirect wholly owned subsidiary, initiated the offering subject to customary market conditions .
- Analysts project a 32.59% upside with an average price target of $47.74 (high estimate $60.00) and a consensus “Outperform” rating .
Jun 16, 2025, 7:59 AM
Darling Ingredients Q1 2025 Earnings & Performance Update
DAR
Earnings
Guidance Update
Share Buyback
Dividends
- DAR reported total net sales of $1.38 billion, a net loss of $(26.2) million, and EPS of $(0.16) in Q1 2025, reflecting a challenging quarter .
- Achieved a combined adjusted EBITDA of $195.8 million across Feed, Food, and Fuel segments, underscoring solid core performance .
- Improved margins driven by rising fat prices bolstered performance despite challenges in the DGD fuel segment .
- Demonstrated active capital management by repurchasing $35 million in common stock and reducing debt by $146.2 million .
- Received $129.5 million in cash dividends from Diamond Green Diesel, aiding cash generation .
- Reaffirmed full-year guidance with combined adjusted EBITDA expected between $1.25 billion and $1.3 billion .
- The earnings call included forward-looking statements addressing market risks and uncertainties, highlighting ongoing balance sheet management .
Apr 24, 2025, 1:01 PM
Quarterly earnings call transcripts for DARLING INGREDIENTS.
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