The Air Force along with the Army, Navy and Marines have been increasingly interested in the use of plant fuel and waste oils to power their fuel hungry operations. The continued instability of the Middle East has accelerated the concern that skyrocketing oil prices is a major security concern. Hence the need to begin to look at alternatives such as oil waste and plant derived fuel. A variety of alternative could be used.
“We can … Read the rest
Several analyst rating changes today. Analyst notes courtesy of Street Insider.
Upgrades
Ardour Capital upgraded Darling (DAR) from Hold to Accumulate and raised price target to $9.50. Shares up nearly 4% today but still trading below the 200 day moving average. Get a FREE Darling Intl Technical Analysis
Ardour Capital also upgraded Akeena Solar (AKNS) from Hold to Buy and has a $1.25 price target (about 50% higher than the current price) AKNS is … Read the rest
Darling Intl (DAR) reported results after the bell today that were considerably below analyst estimates. The company reported a Q4 EPS of $0.11, versus the analyst estimate of $0.17 on revenues of $149.6 million, vs the estimate of $163.18 million. That’s a big improvement on the EPS side from the year ago quarter in which the company reported a -.04/share loss, but revenues were flat. Shares are down about 8% AH on the miss.
The … Read the rest
Darling International just announced that it has completed its acquisition of Sanimax’s rendering, grease collection and trap servicing business in Ohio and Indiana, along with some of its business in Pennsylvania and Michigan. This provides an additional source of raw materials for Darling’s food by-products recycling business.
In a press release, Chairman and Chief Executive Officer Randall Stuewe commented on the acquisition, saying
“We are pleased to have the opportunity to add these businesses to … Read the rest
Darling International just announced that it is partnering with Valero Energy to form a joint venture that will manufacture renewable diesel fuel. The plant that the two companies plan to build together, which will be located near Norco, Louisiana, will be able to produce 10,0000 barrels a day or 135 million gallons per year.
The biodiesel plant will use mainly waste grease and fats supplied by Darling as feedstock. The two companies plan to seek … Read the rest
Darling International (DAR), the largest publicly traded recycler of food waste (mostly fryer grease) reported mixed earnings yesterday, reporting an EPS that was in line with estimates at .06/share but revenues that were shy of expectations at $133 million. That’s a big drop in growth over the year ago period with an EPS drop of 77% and a revenue drop of 33%, but as is always the case, no matter how bad the quarter, the … Read the rest
Darling International, a company that specializes in recycling food by-products, has acquired the assets of Boca Industries, a company that provides grease-trap services to restaurants in Georgia and nearby states. Randall Stuewe, Darling’s Chairman and CEO, described how the acquisition fits into his company’s business strategy:
"We are excited about our acquisition of Boca Industries grease trap services business. The acquisition complements our acquisition last year of a grease collection business in the same … Read the rest
Darling International (DAR), recycler extraordinaire of fryer grease for biofuels, reported strong results after the bell today but missed on EPS. They reported .28/share which was 1 cent shy of analyst estimates but still an 87% increase over the year ago quarter. Revenues came in strong as well, up 37% over the year ago quarter to 236.2 million.
CEO, Randall Stuewe, said, “We are proud of the exceptional results our team delivered for third quarter. … Read the rest
The City of San Francisco has announced a plan to partner with Darling International to build a large biodiesel plant in the city. The new plant will utilize an existing building owned by Darling International, which will be retrofitted to produce fuel from tallow, restaurant grease and other waste fats. The plant is expected to generate 7.5-10 million gallons of biodiesel each year. In all likelihood, the fuel produced will be bought by the city … Read the rest