Darling Ingredients (NYSE: DAR) reported Q4 EPS of $0.45, $0.04 better than the analyst estimate of $0.41. Revenue for the quarter came in at $1 billion versus the consensus estimate of $905.19 million.

Fourth Quarter 2020

• Net income of $44.7 million, or $0.27 per GAAP diluted share
• Adjusted net income of $75.3 million, or $0.45 per diluted share, excluding the $30.6 million after-tax restructuring and asset impairment charge related to the shutdown of the company's biodiesel plants in Montreal, Quebec and Butler, Kentucky
• Net Sales of $1.0 billion
• Combined adjusted EBITDA of $214.5 million
• Global Ingredients business record Q4 EBITDA of $146.3 million

"Our global ingredients business performed well in the fourth quarter of 2020 generating $146.3 million of EBITDA," said Randall C. Stuewe, Chairman and Chief Executive Officer of Darling Ingredients Inc. "We made the decision to shutdown operations of our two biodiesel plants due to unfavorable biodiesel industry economics and there are no current plans to resume biodiesel production at these facilities in the future. The closure of the facilities will create additional feedstock for growth of renewable diesel in our DGD Joint Venture."

"DGD met our expectation for 2020 selling 288 million gallons of renewable diesel at an average of $2.34 EBITDA per gallon," Stuewe added. The earnings of DGD have been consistent and steady over the last three years and based on the current environment, we believe that DGD should generate around $2.25 EBITDA per gallon for 2021. Also, we anticipate the startup of the 400 million gallon expansion in Norco, LA to commission in the fourth quarter, potentially adding some capacity to finish out the year," Stuewe added.

For earnings history and earnings-related data on Darling Ingredients (DAR) click here.