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Stocks D / Darling International Inc.


Subject:  DAR Q1 2016 Results Date:  5/12/2016  9:32 PM
Author:  CMFGalapagos Number:  62 of 71

Hey Fools -

DAR released their first quarter 2016 earnings this afternoon.

They reported EPS for the quarter of $0.01 and revenue of $779.64M (-10.9% Y/Y). Both missed analysts estimates (by a dime and $30.15 million respectively)

The press release:

Darling Ingredients Inc. (NYSE: DAR), a global leader in converting edible and inedible bio-nutrient streams into a wide range of ingredients and specialty products for customers in the pharmaceutical, food, pet food, feed, industrial, fuel, bioenergy, and fertilizer industries, today announced financial results for the first quarter ended April 2, 2016.

For the first quarter of 2016, the Company reported net sales of $779.6 million, as compared with net sales of $874.7 million for the first quarter of 2015. The $95.1 million decrease in net sales is primarily attributable to weaker selling prices for fats and protein within the Feed Ingredients segment and continued FX translation impacts. Overall, global raw material volumes were stronger year over year.

The Food Segment performed well, the Fuel Segment performed "consistently", while the Feed Segment was, um, the trouble spot...

Diamond Green Diesel had some downtime (regular maintenance) but finally received the long awaited tax credit of $156 million. Both Valero and DAR received a $25 million dividend in April 2016. They also payed down $54.7 million of the debt in April 2016 (89.9 million remains)

The is more detail int he release, but I'll not spoil your fun. The call is tomorrow morning; I'll be back to comment after Ive had a chance to read/listen.

Looks like shares were off ~5% in the after hours - we'll see if that continues tomorrow.

BJRI, DAR & LUK Ticker Guide

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