Darling Ingredients(US:DAR)2024-04-25 16:23Financial Performance Overview - Net sales for Q1 2024 were $1,420.3 million, a decrease of 20.7% compared to $1,791.2 million in Q1 2023[5, 6] - Net income decreased by 56.3% from $185.8 million in Q1 2023 to $81.2 million in Q1 2024[5, 6] - Diluted EPS decreased by 56.1% from $1.14 in Q1 2023 to $0.50 in Q1 2024[5, 6] - Combined adjusted EBITDA decreased by 33.1% from $418.4 million in Q1 2023 to $280.1 million in Q1 2024[5, 6] Segment Performance - Feed Ingredients EBITDA decreased by 49.9% from $213.1 million in Q1 2023 to $106.8 million in Q1 2024[5, 6] - Food Ingredients EBITDA decreased by 15.7% from $73.2 million in Q1 2023 to $61.7 million in Q1 2024[5, 6] - Fuel Ingredients EBITDA decreased by 13.3% from $153.6 million in Q1 2023 to $133.1 million in Q1 2024[5, 6] Balance Sheet - Cash and cash equivalents increased from $126.5 million as of December 30, 2023, to $145.5 million as of March 30, 2024[7] - Total debt increased from $4,427.1 million as of December 30, 2023, to $4,465.9 million as of March 30, 2024[7]