DAR FY 2013 Earnings Report — Darling Ingredients Inc. Revenue & Financial Results | Market Cap Arena

Darling Ingredients Inc.DAR

FY 2013 Earnings

Reported February 26, 2014

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2013	Prior Q	FY 2012	QoQ Change	YoY Change
Revenue	$1.8B	—	$1.7B	—	5.9%
Op. Income	$170M	—	$232M	—	-26.8%
Gross Margin	25.7%	—	23.4%	—	2.3pp
Net Margin	6.0%	—	7.7%	—	-1.6pp
EPS (Diluted)	$0.91	—	$1.11	—	-18.0%
Free Cash Flow	$90M	—	$134M	—	-32.8%

Revenue Flow

Item	Amount
REVENUE	$1.8B
Cost of Revenue	$1.3B
GROSS PROFIT	$462M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$171M
Other Expenses	$122M
Operating Expenses	$293M
Cost & Expenses	$1.6B
OPERATING INCOME	$170M
Interest Income	$0
Interest Expense	$38M
Other Income/Expenses	-$6M
INCOME BEFORE TAX	$164M
Income Tax Expense	$55M
Net Income from Continuing Ops	$109M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$109M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$109M
D&A	$99M
EBIT	$193M
EBITDA	$292M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$1.8B
Cost of Revenue	$1.3B
GROSS PROFIT	$462M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$171M
Other Expenses	$122M
Operating Expenses	$293M
Cost & Expenses	$1.6B
OPERATING INCOME	$170M
Interest Income	$0
Interest Expense	$38M
Other Income/Expenses	-$6M
INCOME BEFORE TAX	$164M
Income Tax Expense	$55M
Net Income from Continuing Ops	$109M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$109M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$109M
D&A	$99M
EBIT	$193M
EBITDA	$292M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$109M
Depreciation & Amortization	$99M
Stock-Based Compensation	$9M
Deferred Income Tax	$25M
Other Non-Cash Items	-$44M
Change in Working Capital	$13M
OPERATING CASH FLOW	$211M
Capital Expenditure	-$121M
Acquisitions (Net)	-$779M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$4M
NET CASH FROM INVESTING	-$895M
Net Debt Issuance	$632M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	-$15M
NET CASH FROM FINANCING	$1.5B
FREE CASH FLOW	$90M
Net Change in Cash	$768M

Balance Sheet

Item	Amount
Cash & Equivalents	$871M
Short-Term Investments	$0
Net Receivables	$127M
Inventory	$65M
Other Current Assets	$50M
TOTAL CURRENT ASSETS	$1.1B
PP&E (Net)	$667M
Goodwill	$702M
Intangible Assets	$589M
Long-Term Investments	$115M
Tax Assets	$17M
Other Non-Current Assets	$45M
TOTAL NON-CURRENT ASSETS	$2.1B
TOTAL ASSETS	$3.2B
Account Payables	$44M
Short-Term Debt	$20M
Deferred Revenue	$0
Other Current Liabilities	$74M
TOTAL CURRENT LIABILITIES	$177M
Long-Term Debt	$867M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$139M
Other Non-Current Liabilities	$41M
TOTAL NON-CURRENT LIABILITIES	$1.0B
TOTAL LIABILITIES	$1.2B
Common Stock	$2M
Additional Paid-In Capital	$1.5B
Retained Earnings	$608M
Treasury Stock	-$13M
Accum. Other Comp. Income	-$29M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.0B
Minority Interest	$0
TOTAL EQUITY	$2.0B
TOTAL LIABILITIES & EQUITY	$3.2B
Total Debt	$887M
Net Debt	$16M