Company Overview - Darling Ingredients is a global leader in producing and distributing collagens and gelatins, operating 16 factories worldwide [1] - The company has diversified its business into three branches: feed, food, and fuel, with the rendering business being the largest globally [2] - Darling's core operations involve recycling waste products from animal husbandry, agriculture, and food industries into feedstock, food products, and biofuels [3] Recent Developments - Darling has entered into a definitive agreement with Belgium-based Tessenderlo to combine their collagen and gelatin segments into a new firm named Nextida, with Darling holding an 85% stake [6] - The new venture will not require cash investment from either parent company [6] Financial Performance - In the third quarter of 2025, Darling reported a revenue of $1.6 billion, exceeding forecasts by $62 million and reflecting a 14% year-over-year increase [8] - The GAAP EPS for the same quarter was 12 cents, which was 11 cents lower than expected, while available liquid assets increased to $91.5 million from $75.9 million at the end of December 2024 [8] Market Outlook - Analysts have a positive outlook on Darling, with expectations of structural growth in sustainable fuels and pivotal regulatory catalysts on the horizon [9] - The stock is viewed as nearing a trough for fundamentals and sentiment, with expectations for a solid recovery in earnings and trading multiples into 2026 and beyond [9] Investment Ratings - Analyst Justin Jenkins has given Darling a Strong Buy rating with a price target of $60, indicating a potential gain of 53.5% [10] - The consensus rating for Darling is a Strong Buy, with a current trading price of $39.08 and an average target price suggesting a 25% gain over the next year [10]