darling ingredients inc (DAR) Key Developments
Darling International to Raise EUR 515 million in Private Offering of Senior Notes
May 26 15
Darling International launched a private offering to qualified buyers of EUR 515 million ($561 million) aggregate principal amount of its unsecured senior notes. The company intends to use the proceeds for debt repayments and for general corporate purposes.
Darling Ingredients Mulls Acquisitions
May 20 15
Darling Ingredients Inc. (NYSE:DAR) is seeking acquisitions. Randy Stuewe, Chief Executive Officer of Darling Ingredients, said at BMO Capital Markets farm to market conference, “And we continue to evaluate USA and global bolt-on acquisitions.”
Darling Ingredients Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended April 4, 2015; Provides CapEx Guidance for the Year 2015
May 14 15
Darling Ingredients Inc. announced unaudited consolidated earnings results for the first quarter ended April 4, 2015. For the quarter, the company announced net sales of $874,694,000 compared to $946,292,000 for the same period a year ago. The $71.6 million decrease in net sales is primarily attributable to lower finished product prices, primarily global fat markets, and the foreign exchange rate impact of a weaker euro and Canadian dollar. Operating income was $31,825,000 compared to operating loss of $564,000 for the same period a year ago. Income before income taxes was $3,939,000 compared to loss before income taxes of $69,296,000 for the same period a year ago. Net income was $1,824,000 compared to net loss of $51,006,000 for the same period a year ago. Net income attributable to the company was $109,000 compared to net loss attributable to the company of $52,803,000 for the same period a year ago. Net cash provided by operating activities was $59,240,000 compared to net cash used in operating activities of $30,504,000 for the same period a year ago. Capital expenditures were $50,838,000 compared to $51,360,000 for the same period a year ago. Adjusted EBITDA was $98,223,000 compared to $65,105,000 for the same period a year ago. Pro forma adjusted EBITDA (non-GAAP) was $103,542,000 compared to $129,984,000 for the same period a year ago. Adjusted diluted earnings per share attributable to the company were (non-GAAP) was $0.09 compared to $0.22 for the same period a year ago.
CapEx is expected to be between $150 million and $200 million for the remainder of 2015, which includes a planned investment in 5 processing plants. The company also expects the effective tax rate to decrease at the end of the year to approximately 28% for the year.
Darling Ingredients Inc. Presents at Oppenheimer 15th Annual Global Consumer Conference, Jun-24-2015 01:05 PM
Apr 30 15
Darling Ingredients Inc. Presents at Oppenheimer 15th Annual Global Consumer Conference, Jun-24-2015 01:05 PM. Venue: Four Seasons Hotel, 200 Boylston Street, Boston, Massachusetts, United States. Speakers: Randall C. Stuewe, Chairman and Chief Executive Officer.
Darling Ingredients Inc. Announces Executive Changes
Apr 13 15
Darling Ingredients Inc. announced that effective April 13, 2015, Martin W. Griffin will retire from his position as the company's Executive Vice President - Chief Operations Officer, North America due to health concerns. Rick A. Elrod, the company's current Senior Vice President - Eastern Region, will assume the role of Executive Vice President - Dar Pro U.S.A. and will report to Randall C. Stuewe, the company's Chief Executive Officer. John Bullock, the company's current Executive Vice President - Chief Strategy Officer, will assume responsibilities for the company's North American specialty businesses in addition to his current role. Mr. Elrod has extensive experience in raw material procurement and plant operations, having served the company in various managerial capacities since joining Griffin Industries in 1984. Most recently, he has served as the company's Senior Vice President - Eastern Region since 2011.