Q1 net income falls to $81M ($0.50/sh) on weak fat prices and lower DGD earnings

DARLING INGREDIENTS INC.

2024-Q1 EPS reported $0.50 revenue$1,420,299,000

Net sales $1.4B, down 22% YoY from $1.8B; net income $81.2M vs $185.8M.
Combined adjusted EBITDA $280.1M, down 33% from $418.4M; includes $25M inventory adjustment in Food.
DGD sold 331.5M gallons of renewable diesel at $0.69/gallon EBITDA; $21.6M LCM adjustment recorded.
FY2024 combined adjusted EBITDA guidance reaffirmed at $1.3-$1.4B; leverage ratio 3.71x.

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 0.95

DARLING INGREDIENTS INC. reported first quarter ended March 30, 2024 results: revenue $1.4 billion, net income $81.2 million, EPS $0.50 per GAAP diluted share. Guidance reaffirmed.

Period: first quarter ended March 30, 2024
Revenue: $1.4 billion
Net income: $81.2 million
EPS: $0.50 per GAAP diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

The company also reported net sales of $1.4 billion for the first quarter of 2024

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Source: SEC EDGAR

accession 0000916540-24-000012

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