secwatch.observer — SEC 8-K summary
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Issuer:     DARLING INGREDIENTS INC. (DAR)
CIK:        0000916540
Form:       8-K
Filed at:   2025-10-23T23:59:59+00:00
Accession:  0000916540-25-000029
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Darling Q3 net income $19.4M ($0.12 EPS), sales up 10% to $1.6B; DGD EBITDA negative
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- Net income $19.4M ($0.12 diluted EPS) vs $16.9M ($0.11) YoY; total net sales $1.6B (+10% from $1.4B).
- Combined Adj. EBITDA $244.9M vs $236.7M; DGD contributed negative $2.9M of Darling's share vs positive $39.1M in Q3 2024.
- Agreed to sell $125M of 2025 production tax credits; expects another $125-175M in PTC sales by year-end 2025.
- Full-year 2025 core ingredients (ex-DGD) Adj. EBITDA guidance ~$875-900M; company stops providing DGD guidance due to policy uncertainty.
- Leverage ratio 3.65x; net debt $4.01B; YTD capex $224M; cash $91.5M, revolver availability $1.17B.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/916540/000091654025000029/0000916540-25-000029-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/916540/000091654025000029/dar-20251023.htm
  HTML page:      https://secwatch.observer/filing/0000916540-25-000029

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