Darling Ingredients Inc. income statement
In fiscal 2025, Darling Ingredients Inc. reported revenue of $6.14bn, up 7.4% on the year before, operating income of $273m (a 4.5% margin) and net income of $62.8m, or $0.39 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2009Jan 2010 | 2010Jan 2011 | 2011Dec 2011 | 2012Dec 2012 | 2013Dec 2013 | 2014Jan 2015 | 2015Jan 2016 | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Jan 2021 | 2021Jan 2022 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Jan 2026 | LTMJul 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 598 | 725 | 1,797 | 1,773 | 1,802 | 3,956 | 3,391 | 3,392 | 3,662 | 3,388 | 3,364 | 3,572 | 4,741 | 6,532 | 6,788 | 5,715 | 6,136 | 6,549 |
| Cost of revenue | 440 | 532 | 1,268 | 1,304 | 1,340 | 3,123 | 2,654 | 2,635 | 2,876 | 2,646 | 2,589 | 2,689 | 3,499 | 5,003 | 5,143 | 4,437 | 4,662 | 4,824 |
| Gross profit | 158 | 193 | 529 | 469 | 462 | 833 | 737 | 757 | 787 | 741 | 775 | 883 | 1,242 | 1,530 | 1,645 | 1,278 | 1,473 | 1,724 |
| Selling, general and administrative | 61 | 68 | 136 | 152 | 171 | 375 | 316 | 312 | 344 | 309 | 359 | 378 | 392 | 437 | 543 | 492 | 551 | 592 |
| Operating income | 71 | 82 | 314 | 232 | 170 | 165 | 143 | 155 | 169 | 255 | 476 | 431 | 884 | 1,029 | 950 | 468 | 273 | 951 |
| Interest expense | 3 | 9 | 37 | 24 | 38 | 135 | 106 | 94 | 89 | 86 | 79 | 73 | 62 | 126 | 259 | 254 | 222 | 222 |
| Income before tax | 67 | 70 | 272 | 207 | 164 | 81 | 99 | 123 | 64 | 118 | 380 | 354 | 821 | 894 | 720 | 248 | 61 | 743 |
| Income tax | 25 | 26 | 103 | 76 | 55 | 13 | 14 | 15 | −69 | 12 | 59 | 53 | 164 | 147 | 60 | −38 | −9 | 137 |
| Net income | 42 | 44 | 169 | 131 | 109 | 64 | 79 | 102 | 128 | 101 | 313 | 297 | 651 | 738 | 648 | 279 | 63 | 598 |
| Diluted EPS | $0.51 | $0.53 | $1.47 | $1.11 | $0.91 | $0.39 | $0.48 | $0.62 | $0.77 | $0.60 | $1.86 | $1.78 | $3.90 | $4.49 | $3.99 | $1.73 | $0.39 | $3.71 |
| Diluted shares (average) | 82m | 83m | 116m | 118m | 120m | 165m | 165m | 165m | 167m | 168m | 168m | 167m | 167m | 164m | 162m | 161m | 160m | 161m |
| EBITDA | 96 | 114 | 393 | 317 | 268 | 434 | 413 | 445 | 472 | 576 | 801 | 781 | 1,201 | 1,424 | 1,452 | 972 | 782 | 1,476 |
| Quarter | 2024 Q3Sept 2024 | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Jan 2026 | 2026 Q1Apr 2026 | 2026 Q2Jul 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,422 | 1,418 | 1,381 | 1,482 | 1,564 | 1,710 | 1,551 | 1,724 |
| Cost of revenue | 1,108 | 1,084 | 1,069 | 1,136 | 1,177 | 1,281 | 1,146 | 1,221 |
| Gross profit | 314 | 334 | 311 | 346 | 387 | 429 | 405 | 503 |
| Selling, general and administrative | 116 | 108 | 122 | 138 | 140 | 152 | 149 | 151 |
| Operating income | 60 | 122 | 28 | 76 | 72 | 97 | 227 | 555 |
| Interest expense | 67 | 55 | 58 | 52 | 57 | 56 | 54 | 56 |
| Income before tax | 2 | 78 | −25 | 18 | 20 | 48 | 176 | 500 |
| Income tax | −17 | −26 | −1 | 4 | −1 | −11 | 39 | 111 |
| Net income | 17 | 102 | −26 | 13 | 19 | 57 | 134 | 387 |
| Diluted EPS | $0.11 | $0.63 | −$0.16 | $0.08 | $0.12 | $0.35 | $0.83 | $2.41 |
| EBITDA | 184 | 251 | 152 | 197 | 196 | 237 | 358 | 685 |
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