Darling Ingredients: Initiation Of Coverage- How Its Recent Acquisitions Are Powering Global Expansion! 

Darling Ingredients Inc. reported its second-quarter 2025 financial results, offering a mixed picture of performance and outlook. On the positive side, the company demonstrated resilience across its core businesses amid a challenging renewable fuel environment, maintaining strong earnings and capital discipline. Darling locked in borrowing costs for the next five years, enhancing financial flexibility through a successful refinancing process. Despite regulatory pressures, the company saw favorable market conditions in its Feed Ingredients segment, with global rendering volumes steady and margin expansion both quarterly and annually. Rising fat prices, supported by favorable domestic policy, further bolstered the segment’s performance.