Earnings summaries and quarterly performance for DAQO NEW ENERGY.
Research analysts who have asked questions during DAQO NEW ENERGY earnings calls.
Gordon Johnson
GLJ Research
5 questions for DQ
Also covers: CCJ, ENPH
PS
Philip Shen
ROTH MKM
5 questions for DQ
Also covers: ARRY, CSIQ, ENPH +13 more
Alan Hon
JPMorgan Chase & Co.
3 questions for DQ
AH
Alan Han
JPMorgan Chase & Co.
2 questions for DQ
Alan Lau
Jefferies LLC
2 questions for DQ
Also covers: CSIQ, EH, JKS
EL
Emmett Lau
Jefferies
2 questions for DQ
MI
Matthew Ingraham
Roth MKM
2 questions for DQ
Also covers: JKS
MW
Mengwen Wang
Goldman Sachs
2 questions for DQ
MW
Ming Wang
Goldman Sachs
2 questions for DQ
Phil Shen
ROTH Capital
2 questions for DQ
Also covers: ENPH, PWR
ZH
Zihui Hu
CICC
2 questions for DQ
AL
Alan Lang
Jefferies
1 question for DQ
Alan Young
Jefferies
1 question for DQ
MW
Man Win
The Goldman Sachs Group, Inc.
1 question for DQ
M
Moen
Goldman Sachs
1 question for DQ
RC
Rajiv Chaudhri
Sentara Capital
1 question for DQ
Also covers: JKS
WL
W. L. Hon
JPMorgan Chase & Co.
1 question for DQ
Recent press releases and 8-K filings for DQ.
Daqo New Energy Reports Q4 and Full Year 2025 Results, Highlights Market Recovery and Policy Impact
DQ
Earnings
Guidance Update
M&A
- Daqo New Energy reported Q4 2025 revenues of $221.7 million and a net loss of $7.3 million, with EBITDA of $52 million. For the full year 2025, the company achieved positive EBITDA of $1.7 million and $66.1 million in operating cash flow, marking a significant turnaround from 2024.
- Q4 2025 polysilicon production was 42,181 metric tons, and cash costs declined to a new record low of $4.46 per kilogram.
- The company expects Q1 2026 production volume of 35,000-40,000 metric tons and full-year 2026 production of 140,000-170,000 metric tons. Polysilicon prices are anticipated to remain at least RMB 53-54 per kilogram in the coming quarters due to regulatory mandates.
- Daqo New Energy ended 2025 with $2.27 billion in highly liquid assets and is open to M&A opportunities, viewing industry consolidation driven by China's anti-involution policies as a multi-year process to address overcapacity.
1 day ago
Daqo New Energy Reports Q4 and Full-Year 2025 Results, Highlights Operational Improvements and Market Recovery
DQ
Earnings
Guidance Update
M&A
- Daqo New Energy reported Q4 2025 revenues of $221.7 million with a net loss attributable to shareholders of $7.3 million and EBITDA of $52 million. For the full year 2025, revenues reached $665 million, and the company significantly narrowed its net loss to $170.5 million from $345.2 million in 2024, with EBITDA swinging to a positive $1.7 million from a negative $337.4 million in 2024.
- The company generated $56.1 million in positive operating cash flow for the full year 2025, marking a notable turnaround from a $435 million outflow in 2024, and maintained a strong balance sheet with $2.27 billion in highly liquid assets as of December 31, 2025.
- Operationally, total production costs declined 9% to $5.83 per kilogram in Q4 2025, and cash costs reached a new record low of $4.46 per kilogram.
- For Q1 2026, polysilicon production volume is projected to be 35,000-40,000 metric tons, with full-year 2026 guidance of 140,000-170,000 metric tons. Polysilicon prices are expected to be at least RMB 53-54 per kilogram in the coming quarters, supported by the Pricing Law.
- Daqo New Energy is actively involved in China's anti-involution initiatives, including the establishment of a consolidation platform (SPV) by the end of 2025, aiming to address industry overcapacity and foster a more rational industry structure.
1 day ago
Daqo New Energy Reports Q4 and Full Year 2025 Results
DQ
Earnings
Guidance Update
Revenue Acceleration/Inflection
- Daqo New Energy reported a significant financial turnaround in 2025, with EBITDA swinging to a positive $1.7 million compared to negative $337.4 million in 2024, and net loss attributable to shareholders narrowing to $170.5 million from $345.2 million in 2024. The company also generated $56.1 million in positive operating cash flow in 2025, a notable improvement from a $435 million outflow in 2024.
- For Q4 2025, revenue was $221.7 million , and net loss attributable to shareholders narrowed to $7.3 million from $14.9 million in Q3 2025. EBITDA for Q4 2025 was $52.5 million.
- Polysilicon production volume for Q4 2025 reached 42,181 MT , contributing to an annual production volume of 123,652 MT in 2025. The company also achieved a record low cash cost of $4.46/kg in Q4 2025, a 2% decrease from Q3 2025.
- The company maintained a strong balance sheet with highly liquid assets, including cash, short-term investments, bank notes receivable, and fixed term bank deposits, totaling $2.27 billion at the end of Q4 2025.
- Looking ahead, Daqo New Energy expects Q1 2026 polysilicon production volume to be between 35,000 MT and 40,000 MT, and full-year 2026 production volume to be in the range of 140,000 MT to 170,000 MT.
1 day ago
Daqo New Energy Reports Q4 and Full-Year 2025 Results, Highlights Financial Turnaround and Production Guidance
DQ
Earnings
Guidance Update
New Projects/Investments
- Daqo New Energy reported a significant financial turnaround in 2025, with EBITDA swinging to a positive $1.7 million from a negative $337.4 million in 2024, and net loss attributable to shareholders narrowing to $170.5 million from $345.2 million. The company also generated $56.1 million in positive operating cash flow in 2025, a notable improvement from a $435 million outflow in 2024.
- In Q4 2025, the company achieved revenues of $221.7 million and a gross margin of 7%, compared to 3.9% in Q3 2025. Total production costs declined by 9% to $5.83 per kilogram from $6.38 per kilogram in Q3 2025, and cash costs reached a new record low of $4.46 per kilogram.
- As of December 31, 2025, Daqo New Energy maintained a strong financial position with $2.27 billion in highly liquid assets, including $980 million in cash and equivalents.
- For Q1 2026, the company expects polysilicon production volume to be between 35,000 and 40,000 metric tons, with full-year 2026 production guided at 140,000 to 170,000 metric tons. Management expects polysilicon prices to remain at least RMB 53-54 per kilogram in the coming quarters due to the Pricing Law.
1 day ago
Daqo New Energy Announces Fourth Quarter and Fiscal Year 2025 Results
DQ
Earnings
Guidance Update
Demand Weakening
- Daqo New Energy reported Q4 2025 revenue of $221.7 million and a net loss attributable to shareholders of $7.3 million, with EBITDA of $52.5 million. For the full year 2025, revenue was $665.4 million and net loss attributable to shareholders was $170.5 million, with EBITDA of $1.7 million.
- Polysilicon production volume in Q4 2025 was 42,181 MT, and the average total production cost decreased to $5.83/kg from $6.38/kg in Q3 2025, with cash cost reaching a new record low of $4.46/kg.
- The company provided guidance for Q1 2026 polysilicon production volume at 35,000 MT to 40,000 MT, and full-year 2026 production volume at 140,000 MT to 170,000 MT.
- As of December 31, 2025, the company maintained a strong liquidity position with $2.27 billion in total cash, short-term investments, bank notes receivable, and fixed term bank deposits.
1 day ago
Xinjiang Daqo Provides Preliminary FY2025 Net Loss Estimate
DQ
Earnings
Profit Warning
Guidance Update
- Daqo New Energy's subsidiary, Xinjiang Daqo New Energy, has provided a preliminary estimate of its net loss attributable to shareholders for FY2025.
- The estimated net loss for FY2025 shows an improvement compared to the previous fiscal year.
- Daqo New Energy beneficially owns approximately 72.8% of Xinjiang Daqo, which contributes the majority of the parent company's revenue and net income.
- This estimate is preliminary, prepared under PRC GAAP, and is subject to change upon completion of internal financial closing.
| Metric | FY 2024 | FY 2025 (Estimate) |
|---|---|---|
| Net Loss attributable to Xinjiang Daqo's shareholders (RMB Billions) | 2.7 | 1.0 - 1.3 |
Jan 16, 2026, 11:33 AM
Daqo New Energy's Subsidiary Xinjiang Daqo Provides Preliminary Estimate of Net Loss for FY2025
DQ
Earnings
Profit Warning
Guidance Update
- Daqo New Energy's subsidiary, Xinjiang Daqo, estimates a net loss attributable to its shareholders of RMB1.0~1.3 billion for the fiscal year ended December 31, 2025, under PRC GAAP.
- This preliminary estimate for FY2025 represents an improvement from the RMB2.7 billion net loss reported by Xinjiang Daqo for FY2024.
- Xinjiang Daqo, of which Daqo New Energy beneficially owns approximately 72.8%, contributes the majority of the parent company's revenue and net income.
- Investors should exercise caution as this estimated net loss is preliminary and subject to change upon completion of Xinjiang Daqo's internal financial closing and reporting process.
Jan 16, 2026, 11:00 AM
Daqo New Energy Announces Q3 2025 Results with Revenue and Profitability Rebound
DQ
Earnings
Revenue Acceleration/Inflection
Guidance Update
- Daqo New Energy reported a significant financial recovery in Q3 2025, with revenue increasing to $244.6 million from $75.2 million in Q2 2025.
- The company achieved a gross profit of $9.7 million (3.9% gross margin) in Q3 2025, a recovery from a gross loss of $81.4 million (-108.3% gross margin) in Q2 2025.
- Net loss attributable to shareholders narrowed to $14.9 million ($0.22 loss per basic ADS) in Q3 2025, a substantial improvement from a $76.5 million net loss ($1.14 loss per basic ADS) in Q2 2025.
- Operational performance improved with polysilicon sales volume reaching 42,406 MT in Q3 2025, up from 18,126 MT in Q2 2025, and the average selling price (ASP) rising to $5.80/kg from $4.19/kg.
- For Q4 2025, the company anticipates polysilicon production volume to be between 39,500 MT and 42,500 MT, contributing to a full-year 2025 production forecast of 121,000 MT to 124,000 MT.
Oct 27, 2025, 12:37 PM
Daqo New Energy Reports Return to Profitability in Q3 2025 Amidst Market Recovery
DQ
Earnings
Guidance Update
Revenue Acceleration/Inflection
- Daqo New Energy reported a return to profitability in Q3 2025 with adjusted net income of $3.7 million and EBITDA of $45.8 million, alongside a significant increase in revenue to $244.6 million.
- The company maintained a strong financial position with $2.21 billion in total bank deposits and financial investment assets as of September 30, 2025.
- Polysilicon sales volume increased to 42,406 MT in Q3 2025, up from 18,126 MT in Q2 2025, with the average selling price (ASP) rebounding to $5.80/kg from $4.19/kg in the prior quarter.
- For Q4 2025, Daqo New Energy expects polysilicon production volume to be between 39,500 MT and 42,500 MT, leading to a full-year 2025 production forecast of 121,000 MT to 124,000 MT.
- Management noted a gradual recovery in the solar PV market, with polysilicon prices rebounding significantly due to industry initiatives and new energy consumption standards in China aimed at curbing overcapacity.
Oct 27, 2025, 12:00 PM
DQ New Energy Reports Positive Q3 2025 EBITDA and Adjusted Net Income Amidst Market Recovery
DQ
Earnings
Guidance Update
Revenue Acceleration/Inflection
- DQ New Energy reported Q3 2025 revenues of $244.6 million, achieving a gross profit of $9.7 million (3.9% gross margin), positive EBITDA of USD 45.8 million, and adjusted net income of USD 3.7 million.
- Polysilicon production for the quarter was 30,650 metric tons, slightly above guidance, and sales volume sharply increased to 42,406 metric tons from 18,126 metric tons in the previous quarter.
- The company achieved significant cost reductions, with total production costs declining 12% to US$6.38 per kilogram and cash costs decreasing 11% to US$4.54 per kilogram in Q3 2025, marking the lowest cash cost in its history.
- DQ expects positive gross margins for Q4 2025 and anticipates full-year 2025 polysilicon production to be in the range of 121,000 to 124,000 metric tons.
- As of September 30, 2025, the company maintained a strong financial position with a cash balance of USD $552 million and USD 2.21 billion in bank deposits and financial investment assets readily convertible into cash.
Oct 27, 2025, 12:00 PM
Quarterly earnings call transcripts for DAQO NEW ENERGY.
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