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Darling Ingredients Inc. (NYSE: DAR) is a global leader in transforming both edible and inedible fats and proteins into a wide range of sustainable products. With over 130 years of expertise, the company serves various industries including pharmaceutical, food, pet food, feed, technical, fuel, bioenergy, and fertilizer. Headquartered in Irving, TX, Darling Ingredients operates a vast international network of more than 260 facilities spread across 17 countries, employing over 10,000 people dedicated to creating sustainable solutions for a growing global population.
The company’s core operations focus on collecting and transforming animal by-products into valuable ingredients such as gelatin, fats, proteins, fertilizers, and pet food ingredients. Additionally, Darling Ingredients recovers and converts used cooking oil and bakery remnants into feed and fuel ingredients. The company operates three primary business segments: Feed Ingredients, Food Ingredients, and Fuel Ingredients, with the majority of its revenue generated from customers in North America.
Among its notable achievements, Darling Ingredients is also a major player in the renewable energy sector through its joint venture, Diamond Green Diesel (DGD), which produces renewable diesel. In the third quarter of 2023 alone, DGD sold 266.8 million gallons of renewable diesel. For the fiscal year 2023, the company reported net sales of $6.8 billion and net income of $647.7 million.
Recent innovations include the granting of U.S. Patent No. 11795489B2 to its health brand Rousselot for StabiCaps™, a specialized gelatin that enhances the stability and release of active ingredients in soft gel capsules. This patent secures Rousselot’s intellectual property rights, further solidifying Darling Ingredients’ position as a leader in sustainable and innovative solutions.
As a publicly traded company on the NYSE, Darling Ingredients continues to demonstrate strong financial performance despite market volatility. The company actively engages in sustainable practices, repurposing approximately 15% of the world’s meat industry waste streams into value-added products. Looking forward, Darling Ingredients remains optimistic about its future, bolstered by a vertically integrated business model and a commitment to sustainability.
Darling Ingredients (NYSE: DAR) announced significant leadership changes. Brad Phillips, Executive VP and CFO, will retire after 36 years, effective June 15, 2025. Robert Day, current Executive VP and Chief Strategy Officer, will become CFO after the 2024 Form 10-K filing (expected Feb. 25, 2025). Sandra Dudley will be promoted to Executive VP, Renewables and Chief Strategy Officer. Carlos Paz will join as Executive VP, Global Risk Management, Ingredients.
Day joined in 2023 with previous experience at Ascendant Partners and Ceres Global Ag Corp. Dudley, who joined in 2015, currently oversees the Diamond Green Diesel joint venture and specialty operations. Paz comes from Ceres Global Ag Corp., bringing over 20 years of experience from Cargill in trading and merchandising.
Darling Ingredients announced that Avfuel received its first delivery of sustainable aviation fuel (SAF) produced by Diamond Green Diesel (DGD), a joint venture between Darling and Valero Energy. Naples Aviation became the first location in eastern US to offer DGD's SAF for general sale.
The SAF, produced from waste-based feedstocks like used cooking oil, animal tallow, and distiller's corn oil, can reduce greenhouse gas emissions by up to 80% compared to conventional jet fuel. DGD's Port Arthur facility made its first SAF shipment on Nov. 16, with approximately 50% of its 470 million gallon annual capacity converted to SAF production.
Darling Ingredients (NYSE: DAR) announced that Diamond Green Diesel (DGD), its 50/50 joint venture, has received Excise Tax Registration approval from the Internal Revenue Service. This registration is a key requirement for claiming the Internal Revenue Code 45Z credit. The company's CEO, Randall C. Stuewe, highlighted this as the first step toward monetizing the 45Z Producer's Tax Credit and expressed optimism about forthcoming guidance regarding 45Z.
Darling Ingredients (NYSE: DAR) has unveiled DarLinQ, an innovative technology using sonar and Bluetooth for real-time monitoring of used cooking oil (UCO) storage containers. The system enhances operational efficiency and security through continuous oil-level monitoring and automated equipment.
This patented technology addresses the significant challenge of UCO theft, which costs up to $75 million annually in the United States according to the National Renderers Association. DarLinQ provides real-time theft alerts and prevention features, already proven successful through pilot programs. The company is rolling out this technology across its network of over 200,000 restaurant and kitchen facilities in the U.S. through its DAR PRO Solutions brand.
Darling Ingredients (NYSE: DAR) has announced its participation in the upcoming Jefferies Renewables & Clean Energy Conference on December 4, 2024. The company, which specializes in converting food waste into sustainable products and renewable energy, will engage in investor meetings during the event. Chairman and CEO Randall C. Stuewe will participate in a fireside chat scheduled for 9:30 a.m. ET. Interested parties can access webcast details and registration information through the company's website at darlingii.com/events.
Darling Ingredients (NYSE: DAR) reported Q3 2024 net income of $16.9 million, or $0.11 per diluted share, down from $125.0 million ($0.77 per share) in Q3 2023. Total net sales decreased to $1.4 billion from $1.6 billion year-over-year. The decline was primarily attributed to sharp decreases in fat prices and lower Diamond Green Diesel earnings.
Combined adjusted EBITDA was $236.7 million, compared to $334.3 million in Q3 2023. The company received $111.2 million in cash dividends from Diamond Green Diesel, which sold 316.6 million gallons of renewable diesel at $0.25 per gallon EBITDA. Darling reduced debt by approximately $192 million and expects full-year 2024 combined adjusted EBITDA between $1.15-1.175 billion.
Darling Ingredients (NYSE: DAR) has announced the publication of preclinical and clinical studies in the Wiley Journal of Food Science and Nutrition, focusing on the impact of a specific collagen peptide composition on post-meal blood glucose spikes. The studies involve Nextida GC™, the first product in Rousselot's Nextida library, which has shown significant potential in mitigating post-meal glucose spikes in healthy individuals.
In the clinical trial, participants who consumed 5- or 10-gram doses of Nextida GC 30 minutes before a meal experienced a 42% reduction in blood glucose spike on average after the meal. This research supports Darling Ingredients' commitment to developing new collagen-based products with health benefits beyond traditional ones, meeting the growing consumer demand for natural and effective health solutions.
Darling Ingredients Inc. (NYSE: DAR) has announced it will release its third quarter 2024 financial results on Thursday, October 24, 2024. The company will host a conference call at 9 a.m. Eastern Time (8 a.m. Central Time) on the same day to discuss the results and provide an update on company operations. A presentation with supplemental financial data will be available on the company's investor website.
To access the call, listeners can register for an audio-only webcast. Participants wishing to ask questions can register in advance for dial-in details or call specific numbers on the day. A replay of the call will be available online and via phone until October 31, 2024, using the reference passcode 1857635.
Darling Ingredients Inc. (NYSE: DAR) announced that its joint venture Diamond Green Diesel (DGD) will supply sustainable aviation fuel (SAF) to Chicago Midway International Airport. The two-year agreement involves Valero Marketing and Supply Company and Southwest Airlines Co. (NYSE: LUV). Southwest will purchase a minimum of 3.6 million gallons of neat SAF, with an option to buy up to 25 million gallons.
The SAF, produced from waste-based feedstocks, is expected to reduce lifecycle greenhouse gas emissions by up to 80% compared to conventional jet fuel. It will be certified by a CORSIA-approved Sustainability Certification Scheme. The DGD Port Arthur plant will be able to upgrade about 50% of its 470 million gallon annual production capacity to SAF by Q4 2024, potentially making DGD one of the world's largest SAF manufacturers.
Darling Ingredients Inc. (NYSE: DAR) has introduced Nextida™ GC, a new collagen peptide designed to reduce post-meal glucose spikes in healthy individuals. A clinical trial conducted by Darling's brand Rousselot showed that a 5-gram or 10-gram dose taken 30 minutes before a meal significantly lowered post-meal glucose spike by an average of 42%.
CEO Randall C. Stuewe stated that Darling Ingredients has discovered a way to use natural collagen for targeted health benefits through a proprietary process. Nextida GC is the first of many collagen-based solutions with targeted health benefits that the company is developing. The company continues to demonstrate how collagen can be effectively used to target common health and wellness benefits, with patents pending on their scientific work.
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