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Darling Ingredients (DAR) earnings and revenue breakdown

Latest: Q3 2026 · 8-K filed Oct 28, 2026

Q3 2026 Revenue up 14% year over year to $1.8B · 15¢ of every $1 of revenue kept as net profit · operating margin 18.6%

Darling Ingredients made $1.8B in Q3 2026 (+14% Y/Y). Operating margin 18.6%, net earnings $267M. See where every dollar goes — costs, profit and cash — as a Sankey from the 8-K filed Oct 28, 2026 (preliminary, from the earnings release).

Revenue$1.8B
Year over year+14%
Operating margin18.6%
Net earnings$267M
Operating cash flow—

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Darling Ingredients Q3 2026 revenue breakdown: Sankey diagram of revenue, costs, profit and cash flow
Darling Ingredients Q3 2026 revenue breakdown — free to use with credit and a link (terms). Share on X
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What changed this quarter

Revenue was $1.8B in Q3 2026, up 15% year over year and up 4% from the previous quarter.

Operating profit was $0.33B, a 18.6% margin (up 14.0 points year over year). Of the extra revenue versus Q3 2025, 115% reached operating profit, above the 5% margin then. The fastest-growing cost line was Other operating costs (+635%). Net earnings were $0.27B, up 1279% year over year. The effective tax rate was 22.3%.

Quarterly history

Darling Ingredients revenue by quarterDarling Ingredients revenue by quarter$1.4BQ1 2025$1.5BQ2 2025$1.6BQ3 2025$1.7BQ4 2025$1.6BQ1 2026$1.7BQ2 2026$1.8BQ3 2026
Darling Ingredients net earnings by quarterDarling Ingredients net earnings by quarter−$23.8MQ1 2025$12.7MQ2 2025$19.4MQ3 2025$56.9MQ4 2025$134MQ1 2026$387MQ2 2026$267MQ3 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 20268-KOct 28, 2026$1.8B+14%18.6%$267M—
Q2 202610-QAug 7, 2026$1.7B+16%32.2%$387M$533M
Q1 202610-QMay 8, 2026$1.6B+12%14.6%$134M$153M
Q4 202510-KMar 3, 2026$1.7B+21%5.7%$56.9M$441M
Q3 202510-QNov 5, 2025$1.6B+10%4.6%$19.4M$224M
Q2 202510-QAug 6, 2025$1.5B+2%5.1%$12.7M$146M
Q1 202510-QMay 7, 2025$1.4B-3%2.1%−$23.8M$249M

Charts

Darling Ingredients: revenue growth, year over year and quarter over quarterDarling Ingredients: revenue growth, year over year and quarter over quarterY/YQ/Q-3%Q1 2025+2%+7%Q2 2025+10%+6%Q3 2025+21%+9%Q4 2025+12%-9%Q1 2026+16%+11%Q2 2026+14%+4%Q3 2026
Latest (Q3 2026): Y/Y +14%, Q/Q +4%.
Darling Ingredients: where the cash came from (+) and went (−), TTM to Q2 2026Darling Ingredients: where the cash came from (+) and went (−), TTM to Q2 2026Operating cash flow$1.4BOther investing−$923MOther financing−$169MAcquisitions−$122MBuybacks−$73.4MCash drawn (+) / kept (−)−$46.1MExchange rates−$19.7MShares issued$2.7M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Darling Ingredients: profit against cash, quarter by quarterDarling Ingredients: profit against cash, quarter by quarterNet incomeOperating cash flow$19.1M$274MQ3 2024$104M$154MQ4 2024−$23.8M$249MQ1 2025$14.3M$146MQ2 2025$21.1M$224MQ3 2025$58.9M$441MQ4 2025$137M$153MQ1 2026$389M$533MQ2 2026
Latest (Q2 2026): Net income $389M, Operating cash flow $533M.
Darling Ingredients: diluted shares by fiscal yearDarling Ingredients: diluted shares by fiscal year167MFY2020167MFY2021164MFY2022162MFY2023161MFY2024160MFY2025
-4.2% since FY2020: buybacks shrank the count.
Darling Ingredients in its industry: growth against margin (4 companies, SIC 2070)Darling Ingredients in its industry: growth against margin (4 companies, SIC 2070)revenue growth, year over year →↑ operating marginmedian +14%median 10%BGADMSDSYADAR (+14%, 19%)
Fats & Oils; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

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💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Darling Ingredients

Founded by the Swift meat packing interests and the Darling family in 1882, Darling Ingredients Inc. (“Darling”, and together with its subsidiaries, the “Company” or “we,” “us” or “our”) was incorporated in Delaware in 1962 under the name “Darling-Delaware Company, Inc.” Darling changed its name from “Darling-Delaware Company, Inc.” to “Darling International Inc.” on December 28, 1993, and from “Darling International Inc.” to “Darling Ingredients Inc.” on May 6, 2014. The address of Darling's principal executive office is 5601 N MacArthur Boulevard, Irving, Texas, 75038, and its telephone number at this address is (972) 717-0300.

In its own words, from its 10-K, filed Mar 3, 2026.

Darling Ingredients against its Fats & Oils peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +14% against the peers' median +14%. Operating margin: 18.6% against the peers' median 10.4%.

CompanyQuarterRevenueY/YOp. margin
DAR Darling IngredientsQ3 2026$1.8B+14%18.6%
BG Bunge Global SAQ3 2026$23.8B+7%2.2%
ADM Archer-Daniels-MidlandQ3 2026$22.3B+10%4.5%
SDSYA South Dakota Soybean Processors LLCQ2 2026$327M+196%10.4%

Source: Darling Ingredients 8-K on SEC EDGAR · CIK 916540 · Fats & Oils

Guidance and outlook

Darling Ingredients GAAP net income: guidance against what was reportedDarling Ingredients GAAP net income: guidance against what was reportedguided rangereported (above / within / below)Q1 2026$134M
Met or beat 1 of 1 guided periods. Grey: the last range guided before the figures came out; dot: the reported figure.

13F: who owns DAR and who is buying

Largest holders of DAR (13F)Largest holders of DAR (13F)BlackRock$851MVanguard Group$554MVanguard Portfolio Management LLC$456MDimensional Fund Advisors LP$449MVanguard Capital Management LLC$393MState Street$311MEarnest Partners LLC$223MCitadel Advisors LLC$220MAQR Capital Management LLC$212MFMR LLC$205M
Funds' net buying of DAR by quarter (13F)Funds' net buying of DAR by quarter (13F)$71.8M2024-09$53.3M2024-12−$85.5M2025-03$119M2025-06$127M2025-09−$117M2025-12−$292M2026-03$183M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on DAR

History

Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results

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