Darling Ingredients Inc. (NYSE:DAR) reported first-quarter results on Thursday that exceeded profit expectations, although revenue came in just below forecasts.
Shares edged up 0.35% in premarket trading following the announcement.
Adjusted earnings per share were $0.83, beating the analyst consensus of $0.59 by $0.24.
Revenue totaled $1.55 billion, slightly under the $1.56 billion estimate but up 12% from $1.38 billion in the same quarter of 2025.
Combined adjusted EBITDA jumped to $406.8 million, nearly doubling from $195.8 million a year earlier, driven by stronger performance across both the company’s core operations and its Diamond Green Diesel joint venture.
“This quarter marked a clear inflection point for Darling Ingredients’ earning power across both our core business and Diamond Green Diesel,” said Chairman and Chief Executive Officer Randall C. Stuewe. “Disciplined risk management and market execution drove exceptional core results and improved DGD performance, reinforcing our resiliency and the potential of our global platform.”
Diamond Green Diesel sold 272.4 million gallons of renewable fuel during the quarter, generating an average EBITDA of $1.11 per gallon. Results also included a favorable inventory valuation adjustment of approximately $48.4 million attributable to Darling.
The company generated additional liquidity by monetizing $45.0 million in Production Tax Credit sales during the quarter, supporting ongoing deleveraging efforts.
For the second quarter of 2026, Darling expects adjusted EBITDA from its core ingredients business to range between $260 million and $275 million. The midpoint of $267.5 million reflects the outlook excluding contributions from Diamond Green Diesel.
Capital expenditures for full-year 2026 are estimated at approximately $400 million.