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Darling Ingredients (DAR)
NYSE:DAR
Earnings Data
Report Date
May 12, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.55Last Year’s EPS
-0.16Same Quarter Last Year
Strong Buy
Based on 9 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call communicated clear operational and commercial progress across Darling's core ingredients (Feed and Food) with meaningful year-over-year EBITDA, sales and margin improvements, improved leverage and liquidity, and strategic actions (Brazil asset bid and Food JV). Offsetting these positives were substantial headwinds in the Fuel segment for the year, DGD-related accounting/cash volatility, restructuring charges, and continued policy uncertainty (RVO/LCFS) that materially influence future fuel economics. Management is optimistic about 2026 if policy clarity emerges and expects DGD margins and production to improve, while prioritizing debt reduction and selected bolt-on opportunities.Company Guidance
Quarterly and Yearly EBITDA Momentum
Combined adjusted EBITDA for Q4 was $336.1M versus $289.0M in Q4 2024 (+16.3%) and $245.0M last quarter; core ingredients EBITDA for Q4 was $278.2M versus $230.0M in Q4 2024 (+21.0%). For fiscal year 2025, core ingredients EBITDA was $922M versus $790M in 2024 (+16.7%).
Revenue, Volumes and Margin Expansion
Total net sales in Q4 were $1.7B versus $1.4B in Q4 2024 (+21.4%). Raw material volume in Q4 rose to 4.1M metric tons from 3.8M (+7.9%), and quarterly gross margin improved to 25.1% from 23.5% a year ago (+1.6 percentage points).
Feed and Food Segment Strength
Feed segment Q4 EBITDA rose to $193M from $150M in Q4 2024 (+28.7%), with sales of $1.13B versus $924M (+22.3%) and margin up to 24.6% from 22.6% (+2.0 pp). Food segment Q4 sales increased to $429M from $362M (+18.5%) and EBITDA to $82M from $64M (+28.1%), with gross margin 27.2% vs 25.7% (+1.5 pp).
Operational Execution and Product Momentum
Management highlighted four consecutive quarters of margin expansion in Feed, best-in-class operational performance at DGD in Q4 (DGD EBITDA of ~$57.9M or $0.41/gal in Q4), increasing global collagen/gelatin demand, and early commercial traction for higher-value NexData product launches (GLP-1 alternative and upcoming Brain Health product).
Balance Sheet and Liquidity Improvements
Net debt (debt net of cash) improved to ~$3.8B from ~$4.0B (≈$200M reduction, ~5%); preliminary bank covenant leverage ratio improved to 2.9x from 3.9x a year ago (-1.0x). Revolver availability ~ $1.3B and FY capex was $380M with Q4 capex $156M.
Strategic M&A and Portfolio Actions
Darling was the stalking horse bidder for three Potense Group rendering assets in Brazil; expected purchase price around $120M to be funded from Q1 cash flows. Management is advancing a joint venture with PB Leiner and Tessenderlo (regulatory reviews underway) and signaling deliberate portfolio rationalization and possible targeted asset sales.
DAR Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
DAR Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 11, 2026 | $49.62 | $50.31 | +1.39% |
Oct 23, 2025 | $31.12 | $34.67 | +11.41% |
Jul 24, 2025 | $36.86 | $35.19 | -4.53% |
Apr 24, 2025 | $30.35 | $30.45 | +0.33% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Darling Ingredients (DAR) report earnings?
Darling Ingredients (DAR) is schdueled to report earning on May 12, 2026, After Close (Confirmed).
What is Darling Ingredients (DAR) earnings time?
Darling Ingredients (DAR) earnings time is at May 12, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is DAR EPS forecast?
DAR EPS forecast for the fiscal quarter 2026 (Q1) is 0.55.