Darling reported FY 2025 results (fiscal year ended Jan. 3, 2026), posting total net sales of USD 6.1 billion and net income attributable to shareholders of USD 62.8 million. Adjusted EBITDA (non-GAAP) was USD 922.6 million, while Combined Adjusted EBITDA (non-GAAP) was USD 1.0 billion. Segment operating income totaled USD 273.4 million, down 41.6%, with Feed Ingredients at USD 215.2 million (+5.5%), Food Ingredients at USD 151.8 million (+4.9%), Fuel Ingredients at USD 3.4 million (down 98.3%), and Corporate at a loss of USD 96.9 million. In Feed Ingredients, Darling processed 12.68 million metric tons of raw material (+1.7%) and delivered a gross margin of 23.2%. Food Ingredients processed 1.32 million metric tons (+7.0%) with a gross margin of 27.7%. Fuel Ingredients processed 1.45 million metric tons (-3.3%) with a gross margin of 20.2% (excluding the equity contribution from Diamond Green Diesel). Darling highlighted that the renewable fuel market faced a major regulatory shift from the blenders tax credit to the producers tax credit and tariffs on imported feedstocks, contributing to weaker incentives and margins at Diamond Green Diesel (DGD). DGD also saw lower volumes due to three catalyst turnarounds and the idling of its smallest unit after a turnaround in a low-margin environment. Darling recorded equity in net loss of DGD of USD 48.8 million in FY 2025, and said DGD remained its largest finished product customer with net sales to DGD of USD 1.2 billion. For cash flow and capital allocation, net cash provided by operating activities was USD 1.1 billion. Capital expenditures were USD 380.5 million, and Darling expects approximately USD 450 million of capex in FY 2026. The company repurchased USD 34.7 million of shares in FY 2025 and had USD 460.3 million remaining under its USD 500.0 million buyback program as of Jan. 3, 2026.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Darling Ingredients Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0000916540-26-000008), on March 03, 2026, and is solely responsible for the information contained therein.
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