Darling Ingredients Inc. Reports Earnings Results for the Second Quarter and Six Months Ended July 01, 2023
August 09, 2023 at 02:59 am IST
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Darling Ingredients Inc. reported earnings results for the second quarter and six months ended July 01, 2023. For the second quarter, the company reported sales was USD 1,757.62 million compared to USD 1,650.19 million a year ago. Net income was USD 252.38 million compared to USD 202 million a year ago. Basic earnings per share from continuing operations was USD 1.58 compared to USD 1.25 a year ago. Diluted earnings per share from continuing operations was USD 1.55 compared to USD 1.23 a year ago.
For the six months, sales was USD 3,548.79 million compared to USD 3,016.52 million a year ago. Net income was USD 438.18 million compared to USD 390.05 million a year ago. Basic earnings per share from continuing operations was USD 2.74 compared to USD 2.41 a year ago. Diluted earnings per share from continuing operations was USD 2.69 compared to USD 2.37 a year ago.
Darling Ingredients Inc. develops and produces sustainable natural ingredients from edible and inedible bio-nutrients, creating a range of ingredients and customized specialty solutions for customers in the pharmaceutical, food, pet food, animal feed, industrial, fuel, bioenergy and fertilizer industries. Its segments include Feed Ingredients, Food Ingredients and Fuel Ingredients. Feed Ingredients operating segment includes its global activities related to the collection and processing of beef, poultry and pork animal by-products in North America, Europe and South America into non-food grade oils and protein meals, and others. Food Ingredients operating segment includes its global activities related to the purchase and processing of beef and pork bone chips, beef hides, pig skins, and fish skins into collagen, and others. Fuel Ingredients operating segment includes its global activities related to the conversion of organic sludge and food waste into biogas in Europe, and others.