UPDATE: Darling Ingredients Shares Surge After Q4 Results

Shares of Darling Ingredients Inc. DAR jumped more than 4% in after-hours trading after the company reported better-than-expected financial results for the fourth quarter. Net income attributable to Darling climbed to $69.9 million, or $0.42 per share in the latest quarter, up from $22.5 million, or $0.18 per share, in the year-ago quarter. Its net sales surged to $1.0 billion, from $447.9 million, in the year-ago period. However, analysts were expecting earnings of $0.21 per share on revenue of $956.93 million. Its operating income in the quarter rose to $39.7 million, versus $18.5 million. Adjusted EBITDA jumped to $108.7 million from $50.2 million. Feed Ingredients operating income rose by $1.3 million to $33.6 million in the fourth quarter, while Food Ingredients operating income came in at $13.7 million. Exclusive of the DGD Joint Venture, Fuel Ingredients operating income climbed by $10.2 million from the year-ago quarter to $10.9 million in the quarter. "Our business continued to experience headwinds in fourth quarter 2014 from globally lower prices for our finished products and a stronger U.S. dollar. The global price resetting appears to have stabilized with raw material values adjusting and prices for most proteins recovering to meet the increased demand in both the feed and pet food sectors. Fat and used cooking oil finished product prices continued their decline as a result of larger global grain supplies, lower crude oil values, and a non-defined Renewable Fuel Standard for 2014 or 2015. Diamond Green Diesel delivered a tremendous quarter, and as anticipated we benefited from the reinstatement of the biodiesel blender's tax credit," said Randall Stuewe, Darling Ingredients Inc. Chairman and Chief Executive Officer. Darling Ingredients shares rose 4.82% to $18.05 in the after-hours trading session.