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Darling released their 2nd quarter 2016 earnings this afternoon. They reported EPS of $0.19 (analysts had guesstimated $0.18)and revenue of $877.34M, which is a +2.1% Y/Y increase.

This is the press release:

Stuewe comments:

"The results show how we can capture notable gains when market conditions improve. Our business model continues to work and our team did a nice job of executing in highly volatile markets."

"Our Feed Ingredients segment led the way this quarter, capturing margin as prices improved for global fats and proteins from the first quarter. In the Food segment, we delivered a consistent performance, although softness impacted China. Our Fuel segment saw solid results, with Canadian biodiesel leading the way. In addition, Diamond Green Diesel saw earnings recover, with EBITDA doubling from the previous quarter."

Commenting on the Company's overall strategy, Mr. Stuewe said, "We've lowered our cost structure, continued to pay down debt and created a robust global business model that is diversified and increasingly focused on premium, value-add products. In the second quarter, the optionality within several of our businesses enabled us to take full advantage of a stronger market."


Net income of $32.0 million, or $0.19 per GAAP diluted share
Revenue of $877.3 million
Adjusted EBITDA of $124.0 million, improved sequential EBITDA of 25.3%
North American Feed Segment contributed improved sequential earnings and EBITDA margin expansion
Strong demand for Global Feed and Fuel Ingredients, Consistent performance from Food Segment and DGD normalizes

The conference call is tomorrow morning.

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