Randall Stuewe
Chairman & CEO

All right. We're going to get started with our next presentation. CEO, Randall Stuewe has developed and executed a strategy over more than a decade that has positioned Darling as a global leader across rendering, biofuels and food ingredients through strategic acquisitions, capacity expansions and its Diamond Green Diesel joint venture. As a perfect complement to Randy, Bob Day has reinforced Darling's strategy with his disciplined approach to capital allocation, balance sheet deleveraging and returns since becoming CFO early last year.

Darling is an exciting opportunity to demonstrate its earnings potential, leveraging improved operations against the stronger fundamental backdrop. We're pleased to have Randy and Bob with us today to expand on its outlook and strategy. We thank you both for being here.

Robert Day
Executive VP & CFO

Thank you.

Randall Stuewe
Chairman & CEO

Great to be here.

Andrew Strelzik
BMO Capital Markets Equity Research

Maybe where I would start is with some comments that you made at the recent Investor Day. You talked about the current operating environment maybe has accelerated a bit more than you had previously articulated. Can you talk about where you're seeing that momentum? What has been maybe a little bit stronger than you expected?

Randall Stuewe
Chairman & CEO

Well, clearly, the -- as we came out of '25, the world was waiting for some clarity of the renewable fuel standard or RVO as everybody knows, and you still didn't have it here until April 1. And so the different movements that happen for demand, whether it's of oilseeds or whether it's