Darling Ingredients More Than Doubles Q1 EBITDA as DGD Nears Full Capacity

Overview

• Darling reported Q1 2026 adjusted EBITDA of $406.8 million, up from $196 million a year earlier, with $255.6 million from Global Ingredients and $151.2 million from Diamond Green Diesel.
• Executives credited better plant performance, lower costs, and faster sales pivots for wider margins across the feed and ingredients businesses.
• The company said higher U.S. renewable fuel targets improved renewable diesel economics and pushed up fat prices, which it expects will support feed results through 2026.
• Diamond Green Diesel guided about 320 million gallons for the second quarter, which leaders called close to maximum and said they plan to run full out.
• Management said stronger cash generation should help reduce leverage, while results will hinge on feedstock sourcing, hedging effects, and future rules for RIN credits that govern renewable fuel compliance.