IRVING, Texas - Darling Ingredients Inc. (NYSE: NYSE:DAR) reported fourth-quarter earnings that missed analyst expectations, while revenue exceeded forecasts. The company posted earnings of $0.52 per share, which was $0.16 below the consensus estimate of $0.68. However, quarterly revenue reached $1.61 billion, surpassing the analyst projection of $1.69 billion.
The company's stock saw a modest increase of 0.63%, indicating a slightly positive market response. This uptick reflects investor sentiment buoyed by the revenue beat, although the earnings shortfall tempers the reaction.
Darling Ingredients' performance in the fourth quarter was marked by a decrease in net income compared to the same period last year, primarily due to a decline in its share of Diamond Green Diesel (DGD) earnings. The company's net sales for the quarter also saw a reduction from $1.8 billion in the previous year to $1.6 billion.
Randall C. Stuewe, Chairman and CEO of Darling Ingredients, commented on the company's resilience amidst commodity volatility, stating, "Our vertically integrated business continues to demonstrate that Darling Ingredients can deliver strong earnings that offsets commodity volatility." This statement underlines the company's ability to navigate the challenges of fluctuating market conditions.
Looking ahead, Darling Ingredients remains optimistic about its performance in 2024. The company's commitment to driving shareholder results and its record of consecutive growth in volumes and combined adjusted EBITDA suggest a continued focus on strategic growth and operational efficiency.
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