Darling International Falls 2.3% On Earnings Miss (DAR)

Darling International Inc. DAR released financial results on Wednesday after the market closed that failed to meet Wall Street estimates and sent the company's stock price down. Darling International Inc announced that its 3rd quarter net income fell to $11.4 million, or 14 cents per share, down from $16.1 million, or 19 cents per share, a year earlier. The company's revenue rose to $168.7 million, up from $159.9 million a year earlier. According to a poll of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 16 cents per share, on revenue of $173 million. Chairman and chief executive officer, Randall Stuewe, said, "Third quarter performance tracked the second quarter results and our business continues to operate solidly. Persistently hot weather throughout the third quarter detrimentally affected finished product quality which substantially offset the benefits of higher raw material volumes." Darling International Inc. (DAR) finished the trading day at $12.03 per share, then fell 2.3% to $11.75 during after hours trading. The consensus price target of analysts covering the company's stock is $10.23 per share. Read more from Benzinga's Company news.