Darling Ingredients Q3 Profit, Revenue Drop

(RTTNews) - Darling Ingredients Inc. (DAR), that develops and sells sells natural ingredients from edible and inedible bio-nutrients, Thursday reported significantly lower profit for the third quarter, primarily impacted by sharp decline in fat prices and lower earnings within Diamond Green Diesel (DGD). Earnings as well as revenue missed analyst' view.

The company posted net income of $16.95 million, or $0.11 per share for the third quarter, lower than $125.03 million, or $0.77 per share in the same quarter a year ago.

Sales for the quarter declined to $1.422 billion from $1.625 billion in the previous year.

On average, 9 analysts expected the company to report earnings of $0.40 per share on revenue of $1.48 billion for the quarter. Analysts' estimates typically exclude special items.