IRVING, Texas (AP) — Darling Ingredients Inc. (DAR) on Wednesday reported third-quarter net income of $25.7 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Irving, Texas-based company said it had net income of 15 cents.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 18 cents per share.
The producer of natural ingredients from edible and inedible bionutrients posted revenue of $842 million in the period, beating Street forecasts. Three analysts surveyed by Zacks expected $830.5 million.
Darling shares have risen 5% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $20.25, a decrease of 2% in the last 12 months.