Darling Ingredients Inc. (NYSE:DAR) Q2 2022 Earnings Conference Call August 10, 2022 9:00 AM ET Company Participants Suann Guthrie - VP, IR, Sustainability and Global Communications Randall Stuewe - Chairman and Chief Executive Officer Brad Phillips - CFO Sandra Dudley - EVP, Renewables and U.S. Specialty Operations John Bullock - CSO Conference Call Participants Adam Samuelson - Goldman Sachs Manav Gupta - Credit Suisse Ben Bienvenue - Stephens Tom Palmer - JPMorgan Ben Kallo - Baird Ken Zaslow - Bank of M ...

Financial Data and Key Metrics Changes - The company reported strong first-quarter earnings of $330.7 million and combined adjusted EBITDA [5] - Net income for Q1 2022 was $188.1 million or $1.14 per diluted share, compared to $151.8 million or $0.90 per diluted share in Q1 2021 [12] - Net sales increased by 30.5% to $1.37 billion in Q1 2022 from $1 billion in Q1 2021 [12] - Operating income rose by 16.7% to $232.9 million in Q1 2022, driven by a gross margin increase of $71.9 million or 26.2% [12][14] Business Line Data and Key Metrics Changes - The Global Ingredients business achieved a record EBITDA of $244.1 million [5] - The food segment earned $57.7 million in EBITDA, driven by the peptide business and a shift to hydrolyzed specialty collagens [6] - The fuel segment reported $110 million in EBITDA, with $86.6 million coming from Diamond Green Diesel [5] Market Data and Key Metrics Changes - Raw material volumes in the feed segment increased year-over-year, with fat prices continuing to escalate [6] - Protein prices improved sequentially during the quarter, although logistical disruptions kept prices lower year-over-year [6] - European energy prices rose by 250% year-over-year, impacting operational costs [15] Company Strategy and Development Direction - The company is focused on expanding its Green Energy business in Europe and diversifying feedstock supply for Diamond Green Diesel [15][16] - Strategic acquisitions, including Valley Proteins and FASA Group, are expected to enhance operational synergies and increase EBITDA contributions [9][10] - The company aims to process over 15 million metric tons of animal by-products globally, representing about 15% of the world's supply [9] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the business environment, citing robust rendering volumes and improved raw material availability [15] - The company is addressing rising energy costs and supply chain challenges while maintaining margin structures [6][15] - The forecast for combined adjusted EBITDA for 2022 is projected to be between $1.55 billion and $1.60 billion, excluding additional gallons from Diamond Green Diesel 3 [17] Other Important Information - Total debt at the end of Q1 2022 was $1.7 billion, up from $1.5 billion at year-end 2021, primarily due to acquisitions [14] - The company repurchased $17.2 million of common stock in Q1 2022 [14] - The effective tax rate for Q1 2022 was 12%, with projections for an 18% effective tax rate for the remainder of the year [13] Q&A Session Summary Question: Future growth prospects for Darling Ingredients - Management highlighted a four-legged growth strategy focusing on Green Electricity, Diamond Green Diesel, food segment expansion, and core ingredients business [20][24] Question: R&D efforts and innovation pipeline - The company emphasized its expertise in transforming by-products into valuable products and has a robust innovation pipeline [28][29] Question: Leverage and cash flow management - Management discussed plans to maintain sub-three leverage while balancing growth investments, share buybacks, and potential dividends [30][50] Question: DGD's economics and feedstock sourcing - Management noted that DGD is pulling feedstocks from Brazil and expects to continue sourcing globally to support renewable diesel growth [66]

Darling Ingredients Inc. (NYSE:DAR) Q4 2021 Earnings Conference Call March 1, 2022 9:00 AM ET Company Representatives Randall Stuewe - Chairman, Chief Executive Officer Brad Phillips - Chief Financial Officer John Bullock - Chief Strategy Officer Sandra Dudley - Executive Vice President of Renewables and U.S. Specialty Operations Suann Guthrie - VP, Investor Relations, Sustainability & Communications Conference Call Participants Manav Gupta - Credit Suisse Ben Bienvenue - Stephens Adam Samuelson - Goldman S ...

Darling Ingredients Inc. (NYSE:DAR) Q3 2021 Earnings Conference Call November 10, 2021 9:00 AM ET Company Participants Jim Stark - Vice President, Investor Relations Randall Stuewe - Chairman and Chief Executive Officer Brad Phillips - Chief Financial Officer John Bullock - Chief Strategy Officer Sandra Dudley - EVP, Renewables and U.S. Specialty Operations Conference Call Participants Adam Samuelson - Goldman Sachs Prashant Rao - Citigroup Tom Palmer - J.P. Morgan Manav Gupta - Credit Suisse Ben Bienvenue ...

Darling Ingredients Inc. (NYSE:DAR) Q2 2021 Earnings Conference Call August 11, 2021 9:00 AM ET Company Participants Jim Stark - VP, IR Randall Stuewe - Chairman and CEO Brad Phillips - CFO Sandra Dudley - SVP, Renewables and Strategy Conference Call Participants Ben Bienvenue - Stephens Adam Samuelson - Goldman Sachs Manav Gupta - Credit Suisse Tom Palmer - JPMorgan Craig Irwin - ROTH Capital Partners Matthew Blair - Tudor, Pickering, Holt & Co. Ken Zaslow - Bank of Montreal Sam Margolin - Wolfe Research B ...

Darling Ingredients Inc. (NYSE:DAR) Q1 2021 Results Conference Call May 12, 2021 9:00 AM ET Â Company Participants | --- | |----------------------------------------------| | | | Jim Stark - VP, IR | | Randall C. Stuewe - Chairman and CEO | | Brad Phillips - CFO | | Sandra Dudley - SVP, Renewables and Strategy | | Conference Call Participants | | Ben Bienvenue - Stephens Incorporated | | Manav Gupta - Credit Suisse | | Tom Palmer - JP Morgan | | Sam Margolin - Wolfe Research | | Ryan Todd - Simmons Energy | ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended January 2, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | --- | --- | |-----------------------------------------------------------------------------------------|--------------------------------------------------------| | For the transition | from _______ ...

Financial Data and Key Metrics Changes - For Q3 2020, the company reported a combined adjusted EBITDA of $218.5 million, indicating resilience in its Global Ingredients platform [7] - Net income for Q3 2020 totaled $101.1 million or $0.61 per diluted share, compared to $25.7 million or $0.15 per diluted share in Q3 2019 [18] - Year-to-date net income reached $252.1 million or $1.51 per diluted share, up from $70 million or $0.42 per diluted share for the same period in 2019 [19] - Gross margin improved to 24.9% in Q3 2020 from 22.5% in Q3 2019, with net sales increasing by $8.5 million and cost of sales decreasing by $14.6 million [19] - Operating income for Q3 2020 was $127.5 million, up from $59.8 million in the prior year [20] Business Line Data and Key Metrics Changes - The Fuel segment showed significant improvement year-over-year, with Diamond Green Diesel achieving a $2.41 per gallon EBITDA margin on record sales of 80 million gallons for the quarter [12] - The Food segment experienced a recovery in hydrolyzed collagen sales, with the commissioning of a new collagen peptide production facility in Brazil [11] - The Feed segment declined from strong Q2 performance due to lower protein prices in Q3 compared to both Q2 and Q3 2019 [9] Market Data and Key Metrics Changes - The Energy market showed improvements in demand, although oil and diesel prices remained lower than the previous year, with diesel trading $0.80 a gallon under Q4 2019 [13] - The company anticipates a better pricing environment for protein and fats products in Q4 due to upward movement in the grain and oilseed complex [10] Company Strategy and Development Direction - The company aims to be the largest low-cost producer of renewable diesel in North America, focusing on building new facilities with the latest technologies [31][32] - The company is progressing with the development of Diamond Green Diesel 3 in Port Arthur, Texas, with construction expected to begin in early 2021 [30] - The acquisition of a three-plant Belgium poultry rendering processor is expected to strengthen the company's Belgian system and be immediately accretive [33] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about finishing 2020 with combined adjusted EBITDA between $800 million and $810 million, despite the challenges posed by COVID-19 [15] - The company believes it is well-positioned for a transformative year in 2021 with the expansion of Diamond Green Diesel [16] - Management highlighted the importance of the green premium for renewable diesel, which has offset downward price pressures in the current environment [13] Other Important Information - The company successfully amended and extended its $1 billion revolving credit facility, improving its financial flexibility [26] - Capital expenditures for the first nine months of 2020 totaled $184.9 million, reflecting a disciplined approach during the pandemic [25] Q&A Session Summary Question: Insights on Diamond Green Diesel Phase 3 financing - Management indicated that structured finance is a possibility for Diamond Green Diesel Phase 3 to expedite cash flow from the joint venture [35] Question: Low carbon feedstock sourcing for Phase 3 - Management emphasized their unique position in controlling a significant supply of low carbon feedstocks, ensuring adequate supply for Diamond Green Diesel [36][38] Question: Acquisition strategy and capabilities unlocked - The acquisition of rendering plants fits into the company's strategy of controlling fat and protein production, enhancing their Belgian system [40][42] Question: Dynamics supporting fuel segment growth - The fuel segment's strength was attributed to the performance of the mortality processing business in Europe and strong demand for Cat 1 fats [44] Question: Long-term fit of biodiesel within the company - Management acknowledged the superior logistics and earnings potential of renewable diesel compared to biodiesel, indicating a strategic shift towards renewable diesel [47] Question: Challenges faced by retrofitting old refineries for renewable diesel - Management expressed confidence in their competitive position, citing the difficulties faced by others attempting to retrofit older facilities [52][54] Question: Current pricing trends for fats and proteins - Management noted that prices for fats and proteins are showing positive momentum, driven by demand from China and recovery in the grain and oilseed complex [62][68] Question: Critical milestones for Diamond Green Diesel 3 - Management confirmed that they are on track for a final investment decision on Diamond Green Diesel 3 in early 2021, with all analyses proceeding positively [72] Question: Cash deployment priorities - The company remains focused on achieving an investment-grade rating while managing debt and considering future capital expenditures [76][78] Question: Demand for renewable diesel and LCFS - Management highlighted the growing demand for renewable diesel driven by carbon reduction initiatives, with confidence in the market's ability to absorb new supply [100][104]

Darling Ingredients Inc (NYSE:DAR) Q2 2020 Earnings Call August 6, 2020 9:00 AM ET Company Participants Jim Stark - Vice President of Investor Relations Randall Stuewe - Chairman and Chief Executive Officer Brad Phillips - Chief Financial Officer John Bullock - Chief Strategy Officer Conference Call Participants Heather Jones - Heather Jones Research Craig Irwin - Roth Capital Partners Adam Samuelson - Goldman Sachs Donald McLee - Berenberg Capital Markets Tom Palmer - JPMorgan Ben Kallo - Robert W. Baird & ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 28, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commission File Number 001-13323 DARLING INGREDIENTS INC. (Exact name of registrant as specified in its charter) | --- | --- | |------------------ ...