The following is a summary of the Darling Ingredients Inc. (DAR) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Darling Ingredients reported a Q1 2024 net income of $81.2 million, a decrease from Q1 2023's report of $185.8 million.

• Net sales for Q1 2024 were $1.42 billion, a decrease when compared to Q1 2023's $1.79 billion.

• Operating income decreased to $137.2 million for Q1 2024 from the $255.8 million reported in Q1 2023. This was accompanied by a decrease in gross margin by $120.6 million.

Business Progress:

• The company has completed the acquisition of Miropasz, adding three poultry rendering plants to their portfolio.

• The reopening of the company's Ward South Carolina rendering plant is expected to provide much-needed capacity in the Eastern United States.

• They've identified a portfolio of collagen peptide profiles set to provide health and wellness benefits for new product launches.

• They are also ahead of schedule in the construction of their sustainable aviation unit, estimated to start operations in Q4 2024.

• Future strategies include potential share repurchases and possible dividends by 2025. Future investments may also include a prospective SAF 2 project slated for 2025, subject to improving margins and returns.

More details: Darling Ingredients IR

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