Last $18.43 USD
Change Today +0.09 / 0.49%
Volume 887.4K
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As of 6:40 PM 12/22/14 All times are local (Market data is delayed by at least 15 minutes).

darling ingredients inc (DAR) Key Developments

Darling Ingredients Inc. Announces Resignation of Colin Stevenson as Executive Vice President of Global Finance and Administration

On December 8, 2014, Darling Ingredients Inc. announced that, effective December 8, 2014, Colin Stevenson has resigned from his position as the company's executive vice president of global finance and administration in order to pursue other opportunities. Compensation terms relating to Mr. Stevenson's departure have not yet been finalized.

Darling Ingredients Inc. Announces Executive Changes

Darling Ingredients Inc. announced that effective immediately, John O. Muse, the company's former Chief Financial Officer and current Chief Synergy Officer, will reassume his duties as the company's Chief Financial Officer. Mr. Muse had previously served as the company's Chief Financial Officer from October 1997 until September 2012. Mr. Muse replaces Colin Stevenson, who resigned from the company in order to pursue other opportunities.

Darling International Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 27, 2014; Provides Guidance for the Fourth Quarter of 2014

Darling International Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 27, 2014. For the quarter, the company’s net sales were $955,800,000 against $425,786,000 a year ago. Operating income was $49,925,000 against $41,652,000 a year ago. Income from operations before income taxes was $27,090,000 against $45,024,000 a year ago. Net income was $14,318,000 or $0.09 diluted per share against $27,651,000 or $0.23 diluted per share a year ago. Adjusted EBITDA was $117,236,000 compared with $64,783,000 a year ago. Pro Forma Adjusted EBITDA was $122,334,000 compared with $89,461,000 a year ago. The company has strong cash generation in the third quarter of 2014 with $138.8 million of cash flow from operations or cash EPS of $0.84 per diluted share as compared to $39.5 million and cash EPS of $0.33 per diluted share in the same period in 2013. For the nine months, the company’s net sales were $2,894,194,000 against $1,294,801,000 a year ago. Operating income was $124,846,000 against $151,030,000 a year ago. Income from operations before income taxes was $7,872,000 against $140,600,000 a year ago. Net loss was $477,000 or $0.03 diluted per share against net income of $86,474,000 or $0.73 diluted per share a year ago. Adjusted EBITDA was $325,324,000 compared with $218,104,000 a year ago. Pro Forma Adjusted EBITDA $419,413,000 compared with $240,456,000 a year ago. From a CapEx perspective, the company spent $154 million during the first nine months of the year compared to $85.7 million during the year-ago comparable period. The net increase of $68.3 million is directly attributable to newly acquired businesses. The company generated $179.3 million of cash flow from operations or cash EPS of $1.09 per diluted share as compared to $168.7 million of cash flow from operations or cash EPS of $1.42 per diluted share for the 9 months ended September 28, 2013. The company anticipates a more normalized fourth quarter 2014 from its platform.

Darling Ingredients Inc. to Report Q3, 2014 Results on Nov 06, 2014

Darling Ingredients Inc. announced that they will report Q3, 2014 results at 5:00 PM, Eastern Standard Time on Nov 06, 2014

Darling Ingredients Inc., Q3 2014 Earnings Call, Nov 07, 2014

Darling Ingredients Inc., Q3 2014 Earnings Call, Nov 07, 2014

 

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