Darling Ingredients Profit Rises On Acquired Operations, Yet Misses Estimate

(RTTNews) - Darling Ingredients Inc (DAR) Thursday reported second-quarter net earnings of $32.8 million or $0.20 per share, compared with $26.4 million or $0.22 per share last year.

Excluding items, adjusted earnings for the quarter were $0.24 per share. Analysts polled by Thomson Reuters projected earnings of $0.28 per share for the quarter. Analysts' estimates typically exclude special items.

Darling, based in Irving, Texas, produces natural ingredients from edible and inedible bio-nutrients. The company's revenue for the quarter was $1 billion, compared with $423.6 million in the prior year, helped by newly acquired operations.

Analysts projected revenue of $993 million for the quarter.

On August 3, a fire occurred at the Diamond Green Diesel facility in Norco, LA. The facility is currently shut down and expects it to be operational within 60 days, Darling said. This facility is a joint venture between Darling and Valero Energy Corp.