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DAR · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is Darling Ingredients Inc. (DAR) stock moving?
Darling's Q3 2026 results showed strong earnings growth: combined adjusted EBITDA reached $514.3M versus $244.9M a year earlier, net debt was cut by $420M, and the FY26 combined adjusted EBITDA outlook of $2.20B to $2.30B was reaffirmed. However, Q3 EPS of $1.67 missed the $1.73 estimate and sales of $1.791B were slightly below the $1.797B estimate, which likely drove the selling that followed. The stock closed at $57.16 on Oct 26, slid to a $50.19 close on Nov 6 on elevated volume (about 4.0M shares on Oct 29 and Nov 4 versus roughly 2M to 3M on typical days), and bounced to $52.53 on Nov 9 before closing at $51.57 on Nov 10. The 30-day intraday range runs from $49.78 to $58.27. The shares remain below their late-October levels despite the reaffirmed guidance. The Oct 22 and Oct 28 SEC filings and the Nov 10 10-Q add no further detail on the Diamond Green Diesel joint venture or the 10-Q contents in the data provided. A DATRON AG item in the news feed was excluded because it concerns an unrelated company.
News behind the analysis
- Darling Ingredients Reports Q3 2026 Financial ResultsQ3 2026 adjusted EBITDA of $514 million and a $420 million reduction in net debt were reported. The company also reaffirmed its full-year outlook.
- Darling Ingredients Q3 2026 Earnings Call TranscriptManagement discussed the third-quarter 2026 results on the earnings call held on October 29. The full transcript is available from Benzinga.
- Darling Ingredients Reaffirms FY26 Combined Adj. EBITDA Outlook $2.20B–$2.30B; Q3 Combined Adj. EBITDA $514.30M vs $244.90M Y/YThe FY26 combined adjusted EBITDA outlook of $2.20B to $2.30B was reaffirmed. Q3 combined adjusted EBITDA more than doubled from $244.90M a year earlier.
- Darling Ingredients Q3 EPS $1.67 Misses $1.73 Estimate, Sales $1.791B Miss $1.797B EstimateQ3 earnings per share of $1.67 fell short of the $1.73 estimate. Sales of $1.791B were slightly below the $1.797B estimate.
- Darling Ingredients Named to 2026 TxN 20 ListDarling was recognized as a 2026 TxN 20 honoree by Texan by Nature for its conservation and sustainability commitment. The recognition is non-financial.
- Form 8-K: Results of Operations, Regulation FD Disclosure, Exhibits (Oct 28, 2026)The company furnished its Q3 2026 earnings press release and slide presentation for the quarter ended October 3, 2026. Non-GAAP reconciliations were provided with the release.
- Form 8-K: Results of Operations, Exhibits (Oct 22, 2026)The company issued a press release with comments on its third-quarter 2026 earnings, including its 50/50 joint venture Diamond Green Diesel (DGD).
- Form 10-Q: Quarterly ReportA quarterly report on Form 10-Q was filed on November 10, 2026. Its detailed contents were not included in the provided data.
About DARLING INGREDIENTS INC.
Darling Ingredients, based in Irving, Texas, collects animal by-products, used cooking oil and food waste and turns them into fats, proteins, collagen and other ingredients for animal feed, pet food, food, pharma and fuel. What sets it apart is its 50% stake in Diamond Green Diesel (DGD), a joint venture with Valero and one of the largest makers of renewable diesel and sustainable aviation fuel in North America.
How it makes money
The company sells its products through three segments. Feed Ingredients (rendered fats, protein meals and used cooking oil) is the largest and brings in roughly two-thirds of sales. Food Ingredients, mainly collagen and gelatin sold under brands like Rousselot and Nextida, is roughly a quarter. Fuel Ingredients, including bioenergy in Europe, makes up the rest. Total net sales were about $6.1 billion in fiscal 2025. Darling's share of DGD's profits shows up as equity income rather than as sales, and DGD pays cash distributions back to Darling. The company also earns cash by selling clean-fuel production tax credits.
What usually moves DAR
- Renewable diesel margins at Diamond Green Diesel
- US biofuel mandates (RFS/RINs) and clean-fuel tax credits
- Prices for fats, oils and protein meals, which move with soybean oil and corn
- Collagen and gelatin demand
- Debt reduction and share buybacks