Darling Ingredients Inc. (NYSE: DAR) today released the following statement regarding fourth quarter and fiscal year 2023 earnings.
Fourth quarter and fiscal year 2023 earnings for Darling Ingredients' 50/50 joint venture known as Diamond Green Diesel (DGD) were released earlier today by Darling's joint venture partner.
Darling Ingredients will release its fourth quarter and fiscal year 2023 earnings on or around February 27, 2024, and expects to deliver its sixth consecutive year of record earnings for fiscal year 2023. The core ingredients business performed very well in the fourth quarter and is projected to show strong improvement quarter over quarter.
Heading into 2024, the company is making adjustments, which it believes will protect margins in the Feed segment as global finished good prices have declined, while the Food and Fuel segments are much more insulated from commodity volatility.
We remain optimistic about 2024 performance given the diversity of our integrated global platform, combined with expected contributions from recent acquisitions, successful integration efforts, improved performance at DGD and sustainable aviation fuel production on the horizon. The company will provide additional details regarding its 2024 outlook during its fiscal year 2023 earnings call.