Filing Flows › Darling Ingredients (DAR) › Q2 2026 › vs Q1 2026
Darling Ingredients (DAR) Q2 2026 vs Q1 2026 (quarter over quarter)
Darling Ingredients's revenue rose $173M (+11%) from $1.6B in Q1 2026 to $1.7B in Q2 2026. The biggest changes: Proteins +$329M (+795%); Bakery −$319M (-87%); Fats +$106M (+24%). Gross margin 29.2% against 26.1% (+3.1 pts).
Darling Ingredients, Q2 2026: revenue $1.7B (+16% year over year), operating margin 32.2%, net earnings $387M, operating cash flow $533M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Gross margin | 29.2% | 26.1% | +3.1 pts |
| Operating margin | 32.2% | 14.6% | +17.6 pts |
| Net margin | 22.5% | 8.7% | +13.8 pts |
| Free cash flow margin | 23.5% | 3.8% | +19.7 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Fats | $538M | $432M | $106M | +24% |
| Proteins | $371M | $41.4M | $329M | +795% |
| Food ingredients | $336M | $331M | $4.8M | +1% |
| Bioenergy | $166M | $160M | $5.8M | +4% |
| Used cooking oil | $164M | $109M | $54.5M | +50% |
| Other rendering | $63.0M | $72.2M | −$9.2M | -13% |
| Bakery | $47.0M | $366M | −$319M | -87% |
| Other | $39.3M | $38.2M | $1.1M | +3% |
| Revenue | $1.7B | $1.6B | $173M | +11% |
| Gross profit | $503M | $405M | $98.5M | +24% |
| Cost of revenue | $1.2B | $1.1B | $74.8M | +7% |
| Operating profit | $555M | $227M | $328M | +145% |
| Pre-tax earnings | $500M | $176M | $324M | +185% |
| Other expense, net | $55.3M | $51.1M | $4.2M | +8% |
| Net earnings | $387M | $134M | $253M | +188% |
| Minority interests | $2.0M | $2.7M | −$786K | -29% |
| Income tax | $111M | $38.6M | $72.0M | +186% |
| Depreciation & amortization | $130M | $131M | −$729K | -0.6% |
| Share-based compensation | $8.6M | $7.9M | $614K | +8% |
| Working capital & other | $7.4M | −$120M | $128M | — |
| Operating cash flow | $533M | $153M | $381M | +249% |
| Free cash flow (OCF − capex) | $405M | $58.2M | $346M | +595% |
| Capital expenditures | $129M | $94.8M | $34.1M | +36% |
Questions
How much did Darling Ingredients's revenue grow quarter over quarter in Q2 2026?
Darling Ingredients's revenue rose $173M (+11%) from $1.6B in Q1 2026 to $1.7B in Q2 2026.
What drove Darling Ingredients's revenue change in Q2 2026?
Proteins +$329M (+795%); Bakery −$319M (-87%); Fats +$106M (+24%).