Financial PerformanceDAR's Q3 results missed estimates for most key metrics with management lowering 2024 guidance, reflecting continued headwinds in commodity pricing and uncertainty in the regulatory environment.
Market ConditionsLower renewable diesel pricing and mixed commodity backdrop set up a weaker Q3 performance, with yellow grease and tallow lower while UCO is higher.
Regulatory RiskUncertainty on the 45Z credit and potential regulatory changes could impact DAR's financial outlook, with a Democratic win possibly clearing some of this risk.