Filing Flows › Darling Ingredients (DAR) › Q2 2025
Darling Ingredients (DAR) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 6, 2025
Darling Ingredients (DAR) reported revenue of $1.5B for the second quarter 2025 (Q2 2025), +2% from a year earlier and +7% from the quarter before. Operating margin was 5.1%, net earnings $12.7M (0.9% of revenue).
Darling Ingredients, Q2 2025: revenue $1.5B (+2% year over year), operating margin 5.1%, net earnings $12.7M, operating cash flow $146M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.5B | +7% | +2% |
| Gross profit | $346M | +11% | +6% |
| Operating profit | $75.9M | +167% | -49% |
| Net earnings | $12.7M | — | -84% |
| Operating cash flow | $146M | -41% | -0.5% |
| Free cash flow | $74.8M | -60% | +54% |
What changed
Revenue was $1.5B in Q2 2025, up 2% year over year and up 7% from the previous quarter. Fats was the largest line at 29% of revenue. Fats added $0.08B year over year (up 23%), 312% of the total change. Proteins declined 15%.
Gross margin was 23.3%, up 0.9 points from a year earlier. Operating profit was $0.08B, a 5.1% margin (down 5.1 points year over year). Operating profit fell $0.07B even though revenue rose $0.03B versus a year earlier, so costs grew faster than sales. Operating expenses grew 51% against revenue growth of 2%. The fastest-growing cost line was Other operating costs (+171%). Net earnings were $0.01B, down 84% year over year. The effective tax rate was 22.2%.
Operating cash flow was $0.15B (roughly flat year over year), 1022% of net income including minority interests. Non-cash charges added back $0.12B of depreciation and amortization and $4.6M of share-based compensation. Capital expenditures of $0.07B left free cash flow of $0.07B.
Questions
What was Darling Ingredients' revenue in the second quarter 2025?
Darling Ingredients (DAR) reported revenue of $1.5B for the second quarter 2025 (Q2 2025), +2% from a year earlier and +7% from the quarter before.
Was Darling Ingredients profitable in the second quarter 2025?
Operating profit was $75.9M (5.1% of revenue) and net earnings $12.7M.