Darling Q3 net income $16.9M vs $125M YoY; revenue falls to $1.42B; EBITDA guidance reaffirmed

DARLING INGREDIENTS INC.

2024-Q3 EPS reported $1.10 revenue$4,297,482,000

Net income $16.9M ($0.11 diluted EPS) vs $125.0M ($0.77) in Q3 2023, driven by lower fat prices and weaker DGD earnings.
Total net sales $1.42B, down 12.5% YoY, with declines in Feed ($927.5M) and Food ($357.3M) segments.
Combined adjusted EBITDA $236.7M vs $334.3M; DGD sold 316.6M gallons at $0.25/gallon EBITDA.
FY2024 combined adjusted EBITDA guidance set at $1.15B-$1.175B; debt reduced ~$192M in Q3 to $4.25B.
Received $111.2M cash dividends from DGD; SAF plant commissioning underway; mgmt sees improved 2025.

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