Stock Monitor: Industrial Services of America Post Earnings Reporting
LONDON, UK / ACCESSWIRE / April 11, 2018 / Active-Investors.com has just released a free earnings report on Darling Ingredients Inc. (DAR). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=DAR. The Company reported its fourth quarter fiscal 2017 operating and financial results on February 27, 2018. The producer of natural ingredients from edible and inedible bio-nutrients exceeded revenues and earnings estimates. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Darling Ingredients most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Earnings Highlights and Summary
For the fourth quarter of the fiscal year 2017, Darling Ingredients reported net sales of $952.5 million, up 8% compared to $885.8 million in Q4 2016. The Company's revenue numbers beat analysts' estimates of $896.9 million.
For the full fiscal year 2017, Darling Ingredients recorded net sales of $3.66 billion, up 8% compared to $3.39 billion in FY16.
During Q4 2017, Darling Ingredients' gross margin was 21.7% compared to 22.3% in Q4 2016. The gross margin compression during the reported quarter was driven by a weaker protein pricing in FY17 compared to FY16, in addition to the absence of the blenders tax credit (BTC).
Darling Ingredients' net income attributable to common shareholders was $105.7 million, or $0.63 per diluted share, in Q4 2017 compared to $40.5 million, or $0.25 per diluted share, in Q4 2016. The increase in net income was due to the reversal of deferred tax liabilities due to the US Tax Cuts and Jobs Act 2017 (TCJA), benefits from the European tax reform, along with improved raw material volumes and pricing across the segments. The Company's earnings numbers topped Wall Street's estimates of $0.09 per share.
Darling Ingredients' net income attributable to common shareholders was $128.5 million, or $0.77 per diluted share, in FY17 compared to $102.3 million, or $0.62 per diluted share, in FY16. The increase in net income was due to the reversal of deferred tax liabilities due to the TCJA, along with benefits from the European tax reform.
During FY17, Darling Ingredients' Feed Ingredients segment's revenues grew 7.2% to $2.24 billion on a y-o-y basis. The segment's gross margin advanced 6.5% to $494.7 million, while its earnings before interest, tax, depreciation, and amortization (EBITDA) advanced 6.6% to $313.9 million. The segment saw a strong global raw material tonnage, with North American volumes exceeding FY16 levels by 3.4%, while its international tonnage grew 2% on a y-o-y basis on strong slaughter volumes.
For FY17, Darling Ingredients' Food Ingredients segment's revenues advanced 9.6% to $1.16 billion on a y-o-y basis. The segment's gross margin gained 3.9% to $236.4 million, while its EBITDA of $131.4 million remained flat on a y-o-y basis. The segment's raw material processed were up 3.7% on a y-o-y basis.
Darling Ingredients' Fuel Ingredients segment's revenues gained 7.6% to $265.8 million on a y-o-y basis in Q4 2017. The segment's gross margin fell 14.4% to $55.3 million on a y-o-y basis, while its EBITDA dropped 24.6% to $44.8 million. The segment's raw material processed inched up 0.85% on a y-o-y basis.
Darling Ingredients' cash position was $107 million at the end of FY17, down from $115 million at the end of FY16. Despite spending approximately $37 million for 3 acquisitions during FY17, the Company was able to pay down $43 million in debt in the reported quarter, and exceeded its 2017 targeted pay-down of $100 million, with a total pay-down of $112.5 million. Darling Ingredients had approximately $976 million of availability under its senior revolving credit loan facility at the end of FY17.
Darling Ingredients' capital expenditure was $77.7 million in Q4 2017 compared to $47.1 million in Q4 2016. The Company ended FY17 with a capital expenditure of $274.4 million, exceeding the target of between $240 million and $250 million for FY17, due to several new plant constructions and global plant expansions to meet expanding volumes and new suppliers worldwide.
Stock Performance Snapshot
April 10, 2018 - At Tuesday's closing bell, Darling Ingredients' stock marginally climbed 0.94%, ending the trading session at $17.18.
Volume traded for the day: 849.87 thousand shares.
Stock performance in the previous six-month period – up 4.88%; and past twelve-month period – up 20.82%
After yesterday's close, Darling Ingredients' market cap was at $2.87 billion.
Price to Earnings (P/E) ratio was at 31.24.
The stock is part of the Industrial Goods sector, categorized under the Waste Management industry. This sector was up 1.8% at the end of the session.
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