Debt ManagementDAR paid down approximately $150 million of debt during the first quarter of 2025, reducing its leverage ratio to 3.33x.
Earnings GuidanceDAR maintained 2025 EBITDA guidance of $1.25-$1.30bn, viewing it as achievable based on March run rates.
Regulatory DevelopmentsIndications are 2026 RVO will include a material step-up in biomass-based diesel, acting as a significant catalyst for DAR fundamentals.