Darling Ingredients Inc. reported net income of $101.9 million, or $0.63 per diluted share, for the fourth quarter of 2024, an increase from $84.5 million, or $0.52 per diluted share, in Q4 2023. Total net sales for the quarter were $1.4 billion, compared to $1.6 billion in the prior year period.
For the full fiscal year 2024, net sales were $5.7 billion, down from $6.8 billion in 2023, and net income was $278.9 million, or $1.73 per diluted share, a decrease from $647.7 million, or $3.99 per diluted share, in 2023. Combined Adjusted EBITDA for fiscal year 2024 totaled $1.08 billion, compared to $1.61 billion in 2023.
The company provided guidance for fiscal year 2025, projecting Combined Adjusted EBITDA of $1.25 billion to $1.30 billion. Management anticipates 2025 to be stronger than 2024, with momentum building throughout the year as Diamond Green Diesel (DGD) turnarounds are completed and sustainable aviation fuel (SAF) sales increase.
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