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Operating Income by Segment
Measures what each segment contributes to the company’s bottom line after operating costs, highlighting which businesses are truly profitable, where management is investing capital, and whether reported sales translate into sustainable earnings.Renewable diesel (Fuel Ingredients) has transformed Darling’s P&L into the primary earnings engine—its recent outsized jump aligns with DGD’s strong volumes/pricing and cash distributions—while Feed and Food Ingredients show a steadier recovery, signaling durable core momentum. Offsetting this, Corporate costs have grown more negative (M&A, buybacks, higher maintenance CapEx), so free‑cash conversion depends on sustaining DGD run rates and favorable RIN/tariff outcomes. Management’s guidance and debt paydown plans are credible, but policy volatility, seasonal headwinds and DGD working‑capital builds are key downside risks to watch.
Date | Corporate | Feed Ingredients | Food Ingredients | Fuel Ingredients |
|---|---|---|---|---|
Jun 30, 2026 | -$37.13M | $150.69M | $74.91M | $366.77M |
Mar 31, 2026 | -$29.05M | $77.81M | $50.83M | $127.17M |
Dec 31, 2025 | -$31.40M | $63.89M | $26.07M | $38.89M |
Sep 30, 2025 | -$29.99M | $90.41M | $41.80M | -$30.49M |
Jun 30, 2025 | -$22.46M | $39.90M | $42.55M | $15.88M |
Mar 31, 2025 | -$13.06M | $21.01M | $41.37M | -$20.92M |
Dec 31, 2024 | -$13.54M | $72.19M | $35.75M | $40.03M |
Sep 30, 2024 | -$14.41M | $30.53M | $30.29M | $13.70M |
Jun 30, 2024 | -$21.66M | $68.73M | $45.83M | $55.60M |
Mar 31, 2024 | -$27.98M | $44.49M | $32.82M | $87.84M |