Quarterly ResultMay 8, 2026, 04:23 PM
Darling Ingredients Q1 Net Income $134.3M; Sales $1.55B; JV & Acquisitions
AI Summary
Darling Ingredients Inc. reported a strong financial turnaround for the first quarter of 2026, with net income attributable to Darling reaching $134.3 million, a significant improvement from a loss in the prior year. Total net sales also saw a healthy increase to $1.55 billion. The company's investment in Diamond Green Diesel (DGD) contributed substantially to net income, reversing a previous loss. Additionally, Darling Ingredients announced several strategic initiatives, including a joint venture with Tessenderlo Group NV, the acquisition of UPI Bovinos NewCo in Brazil, and the divestment of a portion of its U.S. grease trap environmental services business.
Key Highlights
- Net income attributable to Darling was $134.3 million for Q1 2026, a significant turnaround from a $26.2 million loss in Q1 2025.
- Total net sales increased to $1.55 billion in Q1 2026, up from $1.38 billion in Q1 2025.
- Basic income per share was $0.85 in Q1 2026, compared to a loss of $0.16 per share in Q1 2025.
- Equity in net income of Diamond Green Diesel (DGD) was $107.4 million in Q1 2026, reversing a $30.5 million loss in Q1 2025.
- Company entered a definitive agreement to form a joint venture with Tessenderlo Group NV for collagen and gelatin businesses.
- Acquired UPI Bovinos NewCo for approximately $119.5 million, adding three rendering plants in Brazil.
- Agreed to sell a substantial portion of its U.S. grease trap environmental services business for approximately $90.0 million.
- Net cash provided by operating activities decreased to $153.0 million in Q1 2026 from $249.0 million in Q1 2025.