Daqo New Energy (DQ) Earnings Date & Reports

Daqo New Energy Corp. disclosed unaudited results for the first quarter ended March 31, 2026. Revenue plummeted to $26.7 million from $221.7 million in Q4 2025, driven by a sharp drop in polysilicon sales volume to 4,482 MT from 38,167 MT. The ASP edged up 2.3% quarter-over-quarter to $5.96 per kg, but fell below production costs amid market weakness.

Gross loss ballooned to $139.4 million, yielding a -521.5% margin, compared to a $15.4 million profit and 7.0% margin in Q4 2025. This stemmed from low volumes and inventory impairment provisions. Net loss attributable to ordinary shareholders was $88.4 million, or $1.31 per basic ADS, versus a $7.3 million loss or $0.11 per ADS last quarter. Production hit 43,402 MT, beating the 35,000-40,000 MT guidance range, with average total production cost at $5.95 per kg.

The company maintained a zero-debt position and $2.0 billion in liquid assets. No revenue guidance was issued, but Q2 polysilicon production is guided at 35,000-40,000 MT, with full-year 2026 at 140,000-170,000 MT.

AI Screener

Tickeron’s AI Screener is an AI-powered stock and ETF discovery tool that helps traders and investors filter the market based on technical patterns, fundamentals, trends, volatility, and AI-driven signals. Users can scan thousands of stocks and ETFs using customizable filters such as industry, market capitalization, technical indicators, price patterns, and performance metrics. The screener identifies trade ideas, trending stocks, breakout candidates, and market opportunities more efficiently than manual screening. Explore it today to enhance your research workflow.

Market Reaction and Investor Sentiment

Daqo shares tumbled around 14% intraday to approximately $18.90 after the earnings miss, reflecting disappointment over the revenue collapse and margin erosion despite production outperformance. Investor sentiment turned cautious, with focus on persistent polysilicon oversupply and delayed recovery signals. Pre-earnings previews had anticipated a smaller loss and higher revenue, amplifying the negative response. Trading volume surged as concerns mounted over near-term pricing pressures.

Forward Outlook and Key Factors to Monitor

Investors should track Daqo's execution on Q2 production guidance of 35,000-40,000 MT and full-year targets amid volatile market conditions. Upcoming Chinese policy developments, including anti-involution measures from authorities like the Ministry of Industry and Information Technology (MIIT), could stabilize supply discipline and support polysilicon prices, which ended Q1 at RMB 35-37 per kg.

Cost trends remain vital, with cash costs at $4.59 per kg (excluding depreciation) showing efficiency gains. The company's $2.0 billion liquidity provides a buffer for capacity maintenance at 305,000 MT annually, but sales deferrals tied to pricing will influence inventory levels and cash flow.

Broader solar PV demand signals, such as module cost stabilization and geopolitical factors, will shape recovery. Watch for updates on N-type polysilicon advancements and industry utilization rates, currently around 39%.

Disclaimer

The information on this webpage is provided for general informational and educational purposes only and is not intended as investment advice, a recommendation to purchase or sell any security, or an offer or solicitation related to investments. It does not consider your personal financial situation, goals, or risk profile, and all investing carries inherent risks, including the possibility of losing your entire investment. For more details, please review our full disclaimer. Disclaimers and Limitations