Third Quarter 2024 Net income of $16.9 million, or $0.11 per GAAP diluted shareTotal net sales of $1.4 billionCombined adjusted EBITDA of $236.7 millionReceived $111.2 million in cash dividends from Diamond Green DieselIRVING, Texas, Oct. 24, 2024 /PRNewswire/ -- Darling Ingredients Inc. (NYSE: DAR) today reported net income of $16.9 million, or $0.11 per diluted share for the third quarter of 2024, compared to net income of $125.0 million, or $0.77 per diluted share, for the third quarter of 2023. The decr ...

IRVING, Texas, Oct. 21, 2024 /PRNewswire/ -- Darling Ingredients Inc. (NYSE: DAR) today announced the publication of preclinical and clinical studies1 in the Wiley Journal of Food Science and Nutrition, focusing on the impact of a specific collagen peptide composition on post-meal blood glucose spikes.Developed by Darling Ingredients' premier collagen and gelatin brand, Rousselot, the Nextida library features a groundbreaking collection of specific collagen peptide compositions with new targeted health bene ...

IRVING, Texas, Oct. 18, 2024 /PRNewswire/ -- Darling Ingredients Inc. (NYSE: DAR) announced today that it will host a conference call on Thursday, October 24, 2024, at 9 a.m. Eastern Time (8 a.m. Central Time) to discuss third quarter 2024 financial results, which will be released earlier that day, and provide an update on company operations. A presentation with accompanying supplemental financial data will also be available at darlingii.com/investors. To access the call as a listener, please register for t ...

Next Generation Collagen Peptide that Targets Post-Meal Glucose Spike IRVING, Texas, Oct. 7, 2024 /PRNewswire/ -- Darling Ingredients Inc. (NYSE: DAR) today announced that it has launched Nextida™ GC, a new collagen peptide that displayed a reduction in the post-meal glucose spike in healthy individuals. The clinical trial1, conducted by Darling Ingredients' premier collagen and gelatin brand Rousselot, showed that a 5-gram or 10-gram dose orally 30 minutes before a meal significantly lowered post-meal gluc ...

IRVING, Texas, Sept. 16, 2024 /PRNewswire/ -- Darling Ingredients Inc. (NYSE: DAR) today announced that it has elected Randy Hill to the board as an independent director, effective immediately. Hill will serve on the board's sustainability and audit committees. "We are pleased to welcome Randy to our board of directors," said Randall C. Stuewe, Chairman and CEO. "His vast experience in the financial services industry, coupled with his expertise in advising companies with both domestic and international oper ...

RABAT, Morocco, Sept. 13, 2024 /PRNewswire/ -- The Ritz-Carlton today announced the opening of The RitzCarlton Rabat, Dar Es Salam, debuting a palatial oasis of contemporary majesty in Morocco. Nestled within 440 hectares of forest and lush gardens, just steps away from the Royal Golf Dar Es Salam, this opulent palace promises an unparalleled experience in the heart of Morocco's capital. The Ritz-Carlton Rabat, Dar Es SalamThe Ritz-Carlton Rabat, Dar Es Salam "The debut of The Ritz-Carlton Rabat, Dar Es Sal ...

Darling Ingredients (NYSE:DAR) stock is climbing higher on Tuesday despite a lack of news from the developer and seller of edible and inedible bio-nutrients. There are no new press releases or filings with the Securities and Exchange Commission (SEC) that explain why the stock is up today. Nor is there any analyst coverage that would cause the shares to rally higher on Tuesday. What is worth noting is that DAR stock is seeing heavy trading on Tuesday. This has more than 4.2 million shares traded as of this ...

Investors: Suann Guthrie Senior VP, Investor Relations, Sustainability & Communications (469) 214-8202; [email protected] Media: Jillian Fleming Director, Global Communications (972) 541-7115; [email protected] IRVING, Texas, July 31, 2024 /PRNewswire/ -- Darling Ingredients Inc. (NYSE: DAR), the world's leading company turning food waste into sustainable products and producer of renewable energy, today announced that its 50/50 joint venture Diamond Green Diesel (DGD) will provide the first regular supply o ...

IRVING, Texas, July 29, 2024 /PRNewswire/ -- Darling Ingredients Inc. (NYSE: DAR) today announced that long-time board member Michael E. Rescoe has retired from its board. Mr. Rescoe joined the Darling Ingredients board in 2017, after previously serving on the board from 2011 to 2014. "On behalf of the board of directors, I would like to thank Mike for his many years of dedicated service," said Randall C. Stuewe, Chairman and Chief Executive Officer. "Mike's significant and meaningful contributions to Darli ...

Financial Data and Key Metrics Changes - For Q2 2024, net income totaled $78.9 million or $0.49 per diluted share, compared to $252.4 million or $1.55 per diluted share for Q2 2023 [39][152] - Net sales were $1.5 billion for Q2 2024, down from $1.8 billion in Q2 2023 [39][152] - Combined EBITDA for the quarter was $273.6 million, slightly lower sequentially, but showed improvement in the core ingredients business [13] - Operating income decreased to $285.7 million for the first six months of 2024, down from $612.5 million for the same period in 2023, primarily due to a decline in equity earnings from Diamond Green Diesel [16][152] Business Segment Data and Key Metrics Changes - The Feed Ingredients segment saw strong global raw material volumes and improved fat pricing, leading to sequential improvement in margins [9] - The Fuel segment, particularly Diamond Green Diesel, faced margin challenges due to regulatory uncertainties, but demand for products remained robust [14] - The Food segment, particularly the Rousselot business, is beginning to see signs of customer destocking slowing, indicating potential for improved demand [37] Market Data and Key Metrics Changes - Global fat pricing is on the rise, indicating increased demand for low carbon intensity feedstocks for renewable diesel [9] - The company anticipates that the implementation of the 45Z tax credit will occur by January 1, 2025, which could impact market dynamics [30][83] Company Strategy and Development Direction - The company is focused on managing capital outflows, paying down debt, and improving operational excellence to widen margins [43] - There is optimism regarding improved pricing in the second half of the year, which is expected to positively impact Q3 and Q4 earnings [43] - The Sustainable Aviation Fuel unit is on track for startup in Q4 2024, with ongoing efforts to build a strong sales book [38] Management's Comments on Operating Environment and Future Outlook - Management noted the challenges posed by a deflationary and volatile global ingredients market, but expressed confidence in the team's ability to adapt [12] - The company remains optimistic about achieving $1.3 billion to $1.4 billion of combined adjusted EBITDA for the year [43] - Management highlighted the importance of customer demand and the evolving regulatory landscape as key factors influencing future performance [90][116] Other Important Information - The company paid down $51 million of debt in Q2 2024, with total debt outstanding at $4.409 billion [18] - Capital expenditures totaled $98 million in Q2 2024, with share repurchases amounting to approximately $29.2 million [42] Q&A Session Summary Question: What is the view on supply and demand dynamics for SAF going into 2025? - Management indicated that the SAF picture is evolving with strong interest in compliance as European regulations come online in 2025 [22] Question: Can you provide insights on margin expectations for the second half? - Management expects improved margins across all segments due to recent price movements and cost management efforts [27] Question: How will the transition from BTC to 45Z impact operations? - Management believes they can manage risks better than the rest of the market, anticipating better renewable diesel margins as the year progresses [81] Question: What is the outlook for dividends from DGD? - Management is optimistic about additional distributions from DGD in the second half of the year, contributing to debt reduction efforts [93] Question: What caused the decline in EBITDA for the Food segment? - Management noted pricing pressure and destocking challenges but remains optimistic about demand recovery in the back half of the year [104]