Darling Ingredients Inc. (NYSE:DAR) Q1 2022 Earnings Conference Call May 11, 2022 9:00 AM ET
Company Participants
Randall Stuewe – Chairman, Chief Executive Officer
Brad Phillips – Chief Financial Officer
John Bullock – Chief Strategy Officer
Sandra Dudley – Executive Vice President of Renewables and U.S. Specialty Operations
Suann Guthrie – Vice President, Investor Relations, Sustainability and Global Communications
Conference Call Participants
Manav Gupta – Credit Suisse
Benjamin Kallo – Baird
Adam Samuelson – Goldman Sachs
Ben Bienvenue – Stephens Inc
Thomas Palmer – J.P. Morgan
Kenneth B. Zaslow – Bank of Montreal
Matthew Blair – Tudor, Pickering, Holt & Co
Sam Margolin – Wolfe Research
Bill Baldwin – Baldwin Anthony Securities
Operator
Good morning, and welcome to the Darling Ingredients Inc. Conference Call to discuss the company's First Quarter 2022 results. After the speakers' prepared remarks, there will be a question-and-answer period, and instructions to ask a question will be given at that time. Today's call is being recorded. I would now like to turn the call over to Ms. Suann Guthrie. Please go ahead.
Suann Guthrie
Welcome to the Darling Ingredients First Quarter 2022 Earnings Call. Participants this morning are Mr. Randall Stuewe, Chairman and Chief Executive Officer, Mr. Brad Phillips, Chief Financial Officer. Mr. John Bullock, Chief Strategy Officer, and then Sandra Dudley, Executive Vice President of Renewables and U.S. Specialty Operations. There is a slide presentation available on the Investor's page under the Events and Presentations on our corporate website. During this call, we will be making forward-looking statements, which are projections or other statements about future events.
These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could materially differ because of factors discussed in today's press release and the comments made during this conference call and the risk factors section of our Form 10-K, 10-Q, and other reported filings within the Securities and Exchange Commission. We do not undertake any duty to update any forward-looking statements. Now, I would like to hand the call over to Randy.
Randall Stuewe
Hey, thanks, Suann. Good morning, everyone. Thanks for joining us for our first quarter 2022 earnings call. We kicked off the year with very strong first-quarter earnings of $330.7 million and combined adjusted EBITDA. Our Global Ingredients business had a record quarter at $244.1 million in EBITDA. Our food business earned $57.7 million in EBITDA and our fuel segment ended the quarter with $110 million in EBITDA with $86.6 coming out of Diamond Green Diesel.