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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) has completed the acquisition of Gelnex, a major producer of gelatin and collagen, for approximately $1.2 billion in cash. This acquisition, announced in October 2022, enhances Darling's production capacity with the addition of six facilities across the Americas, capable of producing 46,000 metric tons of products annually. Darling anticipates that Gelnex will contribute about $75 million in EBITDA for 2023 after accounting for integration costs. The CEO emphasized that the acquisition will boost capacity to meet the increasing demand for collagen and gelatin products.
Darling Ingredients reported a strong fiscal year 2022, with net income of $737.7 million or $4.49 per diluted share, up from $650.9 million in 2021. Q4 2022 net income was $156.6 million, versus $155.8 million in Q4 2021, with net sales of $1.8 billion, a significant increase from $1.3 billion year-over-year. The company achieved a record combined adjusted EBITDA of $1.541 billion for the year. Key growth initiatives included the startup of a third renewable diesel plant, making Darling the largest renewable diesel producer in North America. Strategic acquisitions expanded its market presence, including entering the rendering business in Brazil and enhancing collagen production.
Darling Ingredients Inc. (NYSE: DAR) announced on February 21, 2023, that it has been selected by Panda Restaurant Group, Inc. to recycle used cooking oil from nearly 2,400 Panda Express locations across the United States. This partnership aims to convert waste into sustainable products, including renewable diesel, which has a lower carbon intensity compared to other feedstocks. Darling's DAR PRO Solutions will manage the collection and storage of this oil, enhancing operational efficiency for Panda Express. Darling Ingredients also continues to expand its renewable diesel production capabilities, positioning itself as a leader in the sector.
Darling Ingredients Inc. (NYSE: DAR), a leader in converting food waste into sustainable products, announced its participation in several upcoming investor conferences. CEO Randall C. Stuewe will take part in discussions at the following events:
- Bank of America Global Agriculture & Materials Conference on March 1 (Renewable Fuels Panel at 10:10 a.m. ET)
- Raymond James 44th Annual Institutional Investors Conference on March 6 (Fireside Chat at 2:50 p.m. ET)
- Scotia Bank 51st Annual Scotia Howard Weil Energy Conference on March 7 (Fireside Chat at 8:30 a.m. ET)
- Piper Sandler 23rd Annual Energy Conference on March 21
Presentations may be accessed via webcast on the company’s investor website.
Darling Ingredients Inc. (NYSE: DAR) has announced a strategic agreement with Cattlemen's Heritage Beef Company to purchase off-take from its upcoming 2,000-head per day beef-processing facility in Mills County, Iowa. This partnership aims to strengthen Darling's capacity to supply high-quality protein and increase feedstock for its renewable diesel production. Additionally, the company plans to expand its Bellevue, Nebraska, rendering plant to boost processing capacity. The Mills County facility is projected to generate approximately 800 jobs and an economic impact of up to $8 billion in Iowa over five years.
Darling Ingredients Inc. (NYSE: DAR) will report its fourth quarter and fiscal year 2022 financial results on February 27, 2023, at 4 PM CT. A live conference call will follow on February 28, 2023, at 8 AM CT, featuring insights from CEO Randall C. Stuewe and CFO Brad Phillips. Shareholders can access the financial data through a press release via PR Newswire, accompanied by supplemental information on the company’s investor website. Darling Ingredients operates over 270 plants worldwide, focusing on transforming food waste into sustainable products, reinforcing its status as a leader in renewable energy and sustainability.
Valero Energy Corporation (NYSE: VLO) and Darling Ingredients Inc. (NYSE: DAR) have finalized their investment decision for a Sustainable Aviation Fuel (SAF) project at the DGD Port Arthur plant, a joint venture between the two companies. The project, estimated to cost
On January 31, 2023, Darling Ingredients (NYSE: DAR) and Valero Energy (NYSE: VLO) announced the final investment decision for a Sustainable Aviation Fuel (SAF) project at the Diamond Green Diesel (DGD) Port Arthur plant. The project, costing approximately $315 million, aims to upgrade 50% of the plant's 470 million gallon annual capacity to SAF by 2025, establishing DGD as a leading SAF manufacturer globally. CEO Randall C. Stuewe emphasized the significance of this venture in advancing their growth in aviation fuel and enhancing renewable energy solutions.
Darling Ingredients Inc. (NYSE: DAR) announced the retirement of long-time board member Mary Korby, effective at the 2023 Annual Meeting of Stockholders. Ms. Korby will remain a director until then, having served on the board since 2014, contributing significantly to the company's growth in international law and global expansion. Additionally, Larry A. Barden has been elected as an independent director, expanding the board to 11 members. Mr. Barden brings extensive legal and executive experience, having served as Chairman of the Management Committee at Sidley Austin LLP.
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