Welcome to our dedicated page for Darling Ingred news (Ticker: DAR), a resource for investors and traders seeking the latest updates and insights on Darling Ingred stock.
Darling Ingredients Inc. reports developments in its global ingredients and renewable energy business, which collects animal agriculture and food-industry residuals and converts them into feed ingredients, food ingredients, collagen products, fats, fertilizers, renewable fuels, biogas and energy products.
Recurring company news includes quarterly and annual results, segment performance, updates on the Diamond Green Diesel renewable fuels joint venture, production tax credit sales, portfolio realignment, capital spending, debt and liquidity, investor-day strategy, and board governance matters.
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 $315 million, aims to upgrade 50% of the plant's 470 million gallon annual capacity to SAF by 2025. This positions DGD as one of the largest SAF producers globally, enhancing Valero's growth strategy focused on renewables and reducing carbon intensity.
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.
Darling Ingredients Inc. (NYSE: DAR) announced that Randall C. Stuewe, Chairman and CEO, will participate in a fireside chat at the Goldman Sachs Global Energy and Clean Technology Conference at 2:20 p.m. ET on January 5, 2023. The event will be webcast and accessible via the Investor Relations section of the company's website. Darling Ingredients is a leader in converting food waste into sustainable products and renewable energy, operating over 270 facilities in 17 countries, repurposing approximately 15% of the global meat industry's waste streams.
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Darling Ingredients (NYSE: DAR) announced the U.S. Patent and Trademark Office granted Patent No. 11,490,634 to its health brand Rousselot for SiMoGel™, a new gelatin technology. This innovation allows the production of nutraceutical gummies without starch-based trays, reducing setting time from 24 hours to less than 30 minutes. The nutraceutical gummy market is projected to grow at a CAGR of 15% from 2021-2023, highlighting significant demand. In November 2021, the company also secured a patent from the European Patent Office for SiMoGel.
Darling Ingredients (NYSE: DAR) announced the retirement of Jos Vervoort as Executive Vice President of Rousselot, effective June 30, 2023, after 16 years of service. Jeroen Colpaert will succeed him starting January 2, 2023. Vervoort significantly contributed to Rousselot's growth, making it a leader in collagen peptides. Colpaert, currently Managing Director of Rendering and Specialties, brings over 25 years of operational and leadership experience. He will oversee Rousselot's global expansion, including the Gelnex acquisition pending regulatory approval.
Darling Ingredients (NYSE: DAR) reported a strong Q3 2022 with a net income of $191 million, translating to $1.17 per diluted share, up from $146.8 million or $0.88 in Q3 2021. Net sales reached $1.7 billion, compared to $1.2 billion a year earlier. Adjusted EBITDA for the quarter was $394.7 million, a significant increase from $289.6 million in Q3 2021. The company repurchased $37.2 million worth of stock, contributing to a total of $103.1 million repurchased YTD. With $126.1 million in cash and significant acquisitions underway, Darling anticipates strong continued performance as it reaffirms its EBITDA forecast for 2022.