For the quarter ended June 2023, Darling Ingredients (DAR) reported revenue of $1.76 billion, up 6.5% over the same period last year. EPS came in at $1.55, compared to $1.23 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $1.85 billion, representing a surprise of -4.98%. The company delivered an EPS surprise of -1.27%, with the consensus EPS estimate being $1.57.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Darling performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net Sales- Feed Ingredients: $1.14 billion versus the four-analyst average estimate of $1.19 billion. The reported number represents a year-over-year change of -2.5%.
- Net Sales- Fuel Ingredients: $139.87 million versus $150.51 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +26.4% change.
- Net Sales- Food Ingredients: $476.09 million versus $485.78 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +29% change.
- Segment EBITDA- Food Ingredients: $71.31 million versus $81.95 million estimated by four analysts on average.
- Segment EBITDA- Corporate: -$20.69 million compared to the -$20.42 million average estimate based on four analysts.
- Segment EBITDA- Fuel Ingredients: $22.77 million versus $25.43 million estimated by four analysts on average.
- Segment EBITDA- Feed Ingredients: $187.52 million versus $198.79 million estimated by four analysts on average.
Shares of Darling have returned +9.1% over the past month versus the Zacks S&P 500 composite's +2.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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