For the quarter, Darling posted net sales of $1.7 billion, up from $1.4 billion in the fourth quarter of 2024, while raw material volume rose to 4.1 million metric tons from 3.8 million. Consolidated gross margin improved to 25.1% from 23.5% a year earlier.CFO Bob Day reported combined adjusted EBITDA of $336 million for the fourth quarter, up from $289 million in the year-ago quarter and $245 million in the prior quarter. Core ingredients adjusted EBITDA was $278 million in the quarter, compared with $230 ...

Core Viewpoint - Bion Environmental Technologies is facing financial challenges but remains optimistic about its fertilizer products and potential projects, believing there is a market opportunity worth pursuing despite recent struggles [1][11]. Company Overview - Bion Environmental Technologies specializes in advanced livestock and organic waste treatment and resource recovery technology [1]. - The company has a patented Ammonia Recovery System that produces organic and low-carbon nitrogen fertilizer products from animal manure and other organic waste streams [15]. Financial Situation - The company is currently struggling to raise capital and has requested forbearance on its financial obligations, reflecting uncertainty in its financial health [11][12]. - Bion is attempting to avoid significant dilution of shares by securing funding from existing shareholders through a secured convertible note [12]. Technology and Product Development - The technology has been optimized, resulting in reduced capital and operating costs, and is expected to perform reliably under various conditions [4]. - Positive feedback has been received from fertilizer samples sent to distributors, indicating a strong market for its patent-protected fertilizer products [5]. Market Opportunities - There is a growing trend towards organic and natural products in the retail consumer market, particularly for home and garden use, which Bion aims to capitalize on [6]. - The company is focused on finding projects to meet fertilizer demand and has received a new patent that expands its coverage to industrial waste sources [7]. Business Development Efforts - Bion has engaged Mike O'Brien as Head of Business Development to identify potential projects and partners in the biogas space [8][9]. - Recent attendance at the American Biogas Council trade show indicated strong interest in ammonia control solutions, which could lead to new opportunities for the company [10]. Future Outlook - The company believes it is well-positioned to meet fertilizer demand and is actively seeking opportunities to supply it [13]. - There is an increasing focus on environmental issues related to ammonia, which aligns with Bion's expertise and market offerings [14].