Q3 2025 Darling Ingredients Inc Earnings Call Transcript
Key Points
- Darling Ingredients Inc (DAR) reported its strongest core ingredients business performance in a year and a half, driven by robust global demand and exceptional execution.
- The company's global ingredients business achieved a strong EBITDA of $248 million, indicating solid operational performance.
- The feed segment showed significant improvement with global rendering volumes and margins up both sequentially and year-over-year.
- The food segment maintained steady performance, with promising early studies on new product formulations and repeat orders for existing products.
- Darling Ingredients Inc (DAR) has a strong financial position with approximately $1.17 billion available on its revolving credit facility.
- The renewables market faced challenges, with the renewables business posting only $3 million in EBITDA due to higher feedstock costs and lower pricing.
- Uncertainty and delays in the final Renewable Volume Obligation (RVO) ruling negatively impacted the biofuel environment in the US.
- The fuel segment experienced headwinds, including higher feedstock costs and a scheduled turnaround at DGD 3, leading to reduced volumes.
- The company had to make significant contributions to DGD due to lower biofuel margins and timing related to production tax credit payments.
- The food segment experienced a slight dip in sales due to ongoing tariff volatility, impacting customer demand.
Good morning and welcome to the Darlings Ingredients Inc conference call to discuss the company's third quarter 2025 fiscal results.
After the speaker's prepared remarks, there will be a question-and-answer period, and instructions to ask a question will be given at that time.
Today's call is being recorded. I would now like to turn the call over to Ms. Suann Guthrie, Senior Vice President of Investor Relations. Please go ahead.
Thank you and thank you for joining the Darling Ingredients 3rd quarter 2025 earnings call. Here with me today are Mr. Randall C. Stey, Chairman and Chief Executive Officer, and Mr. Bob Day, Chief Financial Officer.
Our 3rd quarter, 2025 earnings, news release and slide presentation are available on the investor page of our corporate website, and it will be joined by a transcript of this call once it is available.
During this call, we will be making forward-looking statements which are
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