Darling Ingredients reports Q3 EPS 77c, consensus $1.13

Reports Q3 revenue $1.6B, consensus $1.81B. “Our core business continues to perform extremely well. We had seasonally strong performance during the third quarter and were able to return gross margins to pre-acquisition levels,” said Randall C. Stuewe, Darling Ingredients Chairman and CEO. “The company has good momentum as we close out the year and is well positioned heading into 2024.” “Extreme volatility in the global petroleum market and swift declines in RINs and LCFS prices created headwinds in our Fuel business during 3Q,” Stuewe said. “A recent decline in fat prices have shown that new renewable diesel capacity is not coming on line as soon as projected. Despite these headwinds, DGD is still performing above investment case returns.”