Darling Ingredients

Q2 FY2026 EarningsQ2 FY26 results significantly exceeded consensus estimates across all major profitability metrics. Diluted GAAP EPS of $2.41 beat the $1.37 expectation by 75.91%, primarily driven by a surge in equity income from the Diamond Green Diesel (DGD) joint venture ($350.0M). While revenue of $1,724.1M was largely in-line with the $1,715.2M consensus (+0.52%), gross margins expanded to 29.20% (vs. 27.29% expected) due to stronger fat and protein pricing in Feed Ingredients and $18.5M in net tariff recoveries within the Food segment.