Filing Flows › Darling Ingredients (DAR) › Q2 2026 › vs Q2 2025
Darling Ingredients (DAR) Q2 2026 vs Q2 2025 (year over year)
Darling Ingredients's revenue rose $243M (+16%) from $1.5B in Q2 2025 to $1.7B in Q2 2026. The biggest changes: Fats +$103M (+24%); Used cooking oil +$78.8M (+92%); Proteins +$43.9M (+13%). Gross margin 29.2% against 23.3% (+5.8 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 Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Gross margin | 29.2% | 23.3% | +5.8 pts |
| Operating margin | 32.2% | 5.1% | +27.1 pts |
| Net margin | 22.5% | 0.9% | +21.6 pts |
| Free cash flow margin | 23.5% | 5.1% | +18.4 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Fats | $538M | $435M | $103M | +24% |
| Proteins | $371M | $327M | $43.9M | +13% |
| Food ingredients | $336M | $311M | $24.5M | +8% |
| Bioenergy | $166M | $159M | $7.2M | +5% |
| Used cooking oil | $164M | $85.3M | $78.8M | +92% |
| Other rendering | $63.0M | $70.8M | −$7.8M | -11% |
| Bakery | $47.0M | $51.6M | −$4.6M | -9% |
| Other | $39.3M | $42.1M | −$2.8M | -7% |
| Revenue | $1.7B | $1.5B | $243M | +16% |
| Gross profit | $503M | $346M | $157M | +46% |
| Cost of revenue | $1.2B | $1.1B | $85.1M | +7% |
| Operating profit | $555M | $75.9M | $479M | +632% |
| Pre-tax earnings | $500M | $18.3M | $482M | 27× |
| Other expense, net | $55.3M | $57.5M | −$2.2M | -4% |
| Net earnings | $387M | $12.7M | $375M | 31× |
| Minority interests | $2.0M | $1.6M | $353K | +22% |
| Income tax | $111M | $4.1M | $107M | 27× |
| Depreciation & amortization | $130M | $121M | $9.1M | +8% |
| Share-based compensation | $8.6M | $4.6M | $4.0M | +87% |
| Working capital & other | $7.4M | $7.5M | −$58K | -0.8% |
| Operating cash flow | $533M | $146M | $388M | +266% |
| Free cash flow (OCF − capex) | $405M | $74.8M | $330M | +441% |
| Capital expenditures | $129M | $71.0M | $57.9M | +82% |
Questions
How much did Darling Ingredients's revenue grow year over year in Q2 2026?
Darling Ingredients's revenue rose $243M (+16%) from $1.5B in Q2 2025 to $1.7B in Q2 2026.
What drove Darling Ingredients's revenue change in Q2 2026?
Fats +$103M (+24%); Used cooking oil +$78.8M (+92%); Proteins +$43.9M (+13%).