Darling Ingredients Q3 2026 Results Overview
Darling Ingredients Inc. (NYSE:DAR) posted third‑quarter 2026 adjusted earnings per share of $1.67, missing the analyst consensus estimate of $1.83. Revenue for the quarter was $1.79 billion, representing a 14.5% increase from $1.56 billion in the same quarter of 2025 and meeting consensus expectations.
Combined adjusted EBITDA rose to $514.3 million, more than doubling the $244.9 million recorded in the prior‑year period. The company received $171.0 million in cash distributions from its Diamond Green Diesel joint venture during the quarter and used the cash strength to repurchase $75.9 million of common stock, bringing year‑to‑date repurchases to $149.4 million. Net debt was reduced by approximately $420 million.
Diamond Green Diesel sold 314.9 million gallons of renewable fuels in the quarter, generating an adjusted EBITDA of $1.30 per gallon.
Management reaffirmed its fiscal‑year‑2026 combined adjusted EBITDA guidance of $2.2 billion to $2.3 billion, with the midpoint of $2.25 billion compared to year‑to‑date combined adjusted EBITDA of $1.66 billion through the first nine months. The company expects fiscal‑year‑2026 net debt to be at or below $3.0 billion and to maintain a leverage ratio below 1.5×. Capital expenditures for fiscal 2026 are estimated at approximately $450.0 million.
"Our core business delivered another quarter of exceptional performance, demonstrating its resilience and strong cash flow generation," said Randall C. Stuewe, Chairman and Chief Executive Officer. "This financial strength, bolstered by substantial cash from Diamond Green Diesel, enabled us to realize a $420 million reduction in net debt and return capital to our shareholders."
Shares edged lower, declining 0.9% following the earnings release.