secwatch.observer — SEC 8-K summary
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Issuer:     DARLING INGREDIENTS INC. (DAR)
CIK:        0000916540
Form:       8-K
Filed at:   2024-07-25T23:59:59+00:00
Accession:  0000916540-24-000020
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Darling Q2 net income $78.9M ($0.49), down 69% YoY; combined adj. EBITDA $273.6M
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- Net income $78.9M ($0.49 diluted) vs $252.4M ($1.55) in Q2 2023; net sales $1.5B vs $1.8B, down 17%.
- Combined adjusted EBITDA $273.6M vs $508.3M; DGD JV net income fell to $88.4M from $425.9M.
- Feed segment net sales $934.1M vs $1.14B, hit by lower fat and protein prices (BFT -18.2% YoY, UCO -25.8%).
- Received $77.1M DGD dividend; repurchased $29.2M stock; board refreshed $500M buyback through Aug 2026.
- FY2024 combined adj. EBITDA guidance reaffirmed at $1.3-$1.4B; leverage ratio 4.24x as of June 29.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/916540/000091654024000020/0000916540-24-000020-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/916540/000091654024000020/dar-20240725.htm
  HTML page:      https://secwatch.observer/filing/0000916540-24-000020

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