Description

Darling Ingredients Faces Commodity Volatility Despite $406.8 Million EBITDA Recovery; What’s Next?

Darling Ingredients Inc. reported first quarter 2026 results that indicate a notably improved operating environment compared to prior years marked by policy uncertainty and commodity market volatility. The company achieved combined adjusted EBITDA of $406.8 million, significantly up from $196 million in the same quarter a year earlier and $336 million in the preceding quarter. This improvement was driven by steady volumes and margin expansion in its core ingredients business, along with stronger performance from its renewable diesel joint venture, Diamond Green Diesel (DGD). In the Feed Ingredients segment, volumes remained stable, supported by robust global poultry production offsetting a stagnant North American cattle herd. Operational improvements such as enhanced throughput, cost reductions, and higher product quality helped expand margins—gross margins improved to 25.3% from 20.3% a year ago.