Darling Ingredients cuts FY2023 EBITDA guidance to $1.6-$1.7B; cites DGD disruptions & hedge loss

DARLING INGREDIENTS INC.

2023-Q3 EPS reported $3.47 revenue$5,173,997,000

DGD joint venture volumes down due to 37-day outage from turnaround and minor fire at DGD 2 in St. Charles, La.
Extreme heating oil volatility caused sizeable hedge loss; D4 RIN sell-off and stagnant LCFS prices reduced DGD margins.
Darling core business Q3 slightly lower than Q2 but seasonally normal; fat prices improved late in quarter, gross margins solid.
Combined adjusted EBITDA for FY2023 expected between $1.6-$1.7 billion, reflecting Q3 headwinds.
Q4 outlook: core business to improve, DGD volumes and margins stronger; target leverage 2.5x by year-end 2024.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

DARLING INGREDIENTS INC. updated its third quarter ended September 30, 2023 guidance (reaffirmed).

Period: third quarter ended September 30, 2023
Guidance: reaffirmed
Result: preliminary results

Exact text from the filing

On October 26, 2023, Darling Ingredients Inc. (the “Company”) issued a press release on 2023 guidance and 2024 outlook.

View on SEC.gov

8 earnings releases filed in the last 30 days. Browse all earnings releases →

DARLING INGREDIENTS INC. filing history →

Source: SEC EDGAR

accession 0000916540-23-000032

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.