IRVING, Texas, Feb. 27, 2020 /PRNewswire/ -- Darling Ingredients
Inc. (NYSE: DAR, "Darling") --
Fourth Quarter 2019
- Net income of $242.6 million, or
$1.44 per GAAP diluted share
- Net Sales of $859.4 million
- Adjusted EBITDA of $385.8
million
- Adjusted EBITDA (excluding 2018 BTC) of $299.2 million
Full Year 2019
- Net income of $312.6 million, or
$1.86 per GAAP diluted share
- Net Sales of $3.4 billion
- Adjusted EBITDA of $826.3
million
- Adjusted EBITDA (excluding 2018 BTC) of $739.7 million
Darling reported net sales of $859.4
million for the fourth quarter of 2019, as compared with net
sales of $853.1 million for the same
period a year ago. Net income attributable to Darling for the
three months ended December 28, 2019
was $242.6 million, or $1.44 per diluted share, compared to a net income
of $40.6 million, or $0.24 per diluted share, for the fourth quarter
of 2018. Adjusted net income attributable to Darling for the fourth
quarter of 2019 was $156.0 million or
$0.92 per diluted share. The
adjustment for the fourth quarter is associated with the 2018
retroactive blender's tax credit ('BTC').
"Our investment in Diamond Green
Diesel continues to provide us with outstanding results and
the growth of low carbon fuel standards around the world, puts
Darling at the forefront of the green revolution," said
Randall C. Stuewe, Chairman and
Chief Executive Officer of Darling Ingredients Inc. "Our global
rendering operations continue to process higher volumes of raw
materials, positioning us to be the preferred supplier of animal
fats and oils for the biofuels industry."
"Our food segment results showed solid growth in 2019 and we
believe that the second half of 2020 will show additional strength
as we complete the expansion of three additional Peptan facilities
in the second and third quarters of this year," added Stuewe.
"Demand for collagen products continue to grow exponentially and
our growth strategy of investing in additional production
capacities enhances our sustainable portfolio of products and
specialty ingredients."
For the fiscal year ended 2019, Darling reported net sales of
$3.4 billion, as compared with net
sales of $3.4 billion for the fiscal
year ended 2018. Net Income attributable to Darling for the fiscal
year ended December 28, 2019 was
$312.6 million, or $1.86 per diluted share, as compared to a net
income of $101.5 million, or
$0.60 per diluted share, for the
fiscal year ended December 29, 2018.
Adjusted net income attributable to Darling for the fiscal year of
2019 was $226.0 million or
$1.34 per diluted share. The
adjustment for the fiscal year is associated with the 2018
retroactive BTC.
Adjusted EBITDA, which is a Non-GAAP financial measure as
outlined later in this release, was $385.8
million for the fourth quarter of 2019, which includes
$276.2 million of Darling's share of
the DGD joint venture. Fourth quarter 2019 adjusted EBITDA
excluding the 2018 BTC was $299.2
million. Adjusted EBITDA for the fiscal year of 2019 was
$826.3 million, which included
$389.4 million of Darling's share of
the DGD joint venture. Fiscal 2019 adjusted EBITDA excluding the
2018 BTC was $739.7 million.
For additional information, visit the Company's website at
http://www.darlingii.com and to review the Company's Environmental,
Social and Governance (ESG) Factsheet at
http://www.commitment.darlingii.com/metrics/esgfactsheet.
For More Information, contact:
Jim Stark, Vice President, Investor
Relations
5601 MacArthur Blvd., Irving,
Texas 75038
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