Darling Ingredients Inc. reported financial results for the third quarter ended October 3, 2026. The company reported net income attributable to Darling of $267.0 million, or $1.67 per GAAP diluted share. This compares to net income of $19.4 million, or $0.12 per GAAP diluted share, for the same period in 2025. Total net sales for the third quarter of 2026 were $1.8 billion, an increase from $1.6 billion in the prior year's third quarter.
For the nine months ended October 3, 2026, net income attributable to Darling was $788.6 million, or $4.91 per GAAP diluted share, compared to $5.9 million, or $0.04 per GAAP diluted share, for the same period in 2025. Net sales for the first nine months of 2026 totaled $5.1 billion, up from $4.4 billion in the prior year.
Darling Ingredients received $171.0 million in cash distributions from its joint venture, Diamond Green Diesel (DGD). The company also received approximately $33.4 million in dividends and approximately $137.6 million from Production Tax Credit sales from DGD during the quarter. DGD sold and shipped 314.9 million gallons of renewable fuels in the three months ended September 30, 2026, and 936.1 million gallons year-to-date.
Regarding its balance sheet, Darling Ingredients reduced net debt by approximately $420 million during the quarter. The company repurchased $75.9 million of its common stock in the third quarter, bringing total repurchases through the quarter to $149.4 million. As of October 3, 2026, the company had $121.7 million in cash and cash equivalents and $1.7 billion available under its committed revolving credit agreement. Total debt outstanding was $3.5 billion, with a preliminary leverage ratio of 1.7X.
Capital expenditures for the first nine months of 2026 were approximately $343.5 million. The company estimates capital expenditures for fiscal year 2026 to be approximately $450.0 million. Darling Ingredients anticipates ending fiscal year 2026 with net debt at or below $3.0 billion and a leverage ratio below 1.5X. The company reaffirmed its fiscal year 2026 Combined Adjusted EBITDA guidance of $2.2 billion to $2.3 billion.
