Darling Ingredients

Darling Ingredients helps food and meat producers by collecting their leftover animal parts and used cooking oil. It turns these waste materials into useful products like animal feed, fuel, and fertilizer. These ingredients then help farmers feed livestock and fuel companies create cleaner energy.

What Darling Makes

• Feed Ingredients: Processing of animal by-products and bakery residuals into protein meals and fats for animal nutrition; represents 65% of net sales in fiscal year 2025.
• Food Ingredients: Production of collagen and natural casings for the pharmaceutical and food industries; represents 25.2% of net sales in fiscal year 2025.
• Fuel Ingredients: Conversion of organic waste into biogas and low-grade energy sources; represents 9.8% of net sales in fiscal year 2025.
• Diamond Green Diesel: Joint venture with Valero Energy Corporation that produces renewable fuels like renewable diesel and sustainable aviation fuel.

Growth and Expansion

• Completed a capital project at the DGD Port Arthur Plant in November 2024 to enable production of sustainable aviation fuel.
• Entered a definitive agreement with Tessenderlo Group NV in December 2025 to form a new collagen joint venture.
• Expanded the DGD St. Charles Plant in October 2021 to increase renewable diesel production capacity to 750 million gallons per year.
• Constructed the DGD Port Arthur Plant in November 2022 to add 470 million gallons of annual renewable diesel capacity.

What Makes Darling Different

Darling operates a massive collection network across five continents to secure raw materials from slaughterhouses and restaurants. This global footprint allows the company to serve diverse industries ranging from local pet food makers to international pharmaceutical firms.

The Recent Numbers

• Revenue reached $1.7 billion in Q4 2025, up 20.6% from Q4 2024.
• Operating cash flow was $440.6 million in Q4 2025, up 185.4% year-over-year.
• Free cash flow hit $284.2 million in Q4 2025, up 250.6% from the previous year.
• Net income was $56.9 million in Q4 2025, down 44.1% from Q4 2024.
• Operating income rose to $137.7 million in Q4 2025, up 12.5% year-over-year.

Bottom Line

Darling has transitioned from a traditional rendering company into a global provider of sustainable ingredients and renewable fuels. Its growth through joint ventures and specialized collagen products has diversified its role in the global supply chain.