secwatch.observer — SEC 8-K summary
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Issuer:     DARLING INGREDIENTS INC. (DAR)
CIK:        0000916540
Form:       8-K
Filed at:   2024-04-25T23:59:59+00:00
Accession:  0000916540-24-000012
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/916540/000091654024000012/0000916540-24-000012-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/916540/000091654024000012/dar-20240425.htm
  HTML page:      https://secwatch.observer/filing/0000916540-24-000012

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer