TOYO Co Ltd (TOYO)
NASDAQ:TOYO
Earnings Data
Report Date
Aug 26, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
1.02Last Year’s EPS
0.1Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a strong operational and financial improvement in FY2025 with substantial revenue growth (+142%), large gross profit and adjusted EBITDA expansion, successful ramp of a 4 GW Ethiopia cell facility, launch of a Houston module plant and aggressive 2026 shipment and adjusted net income targets. These positives are tempered by GAAP net income and EPS declines, higher operating and G&A costs (notably noncash share comp), and near-term uncertainties around Houston utilization, timing of additional U.S. capacity, and exclusion of certain U.S. credits from guidance. On balance, the positives (revenue, margin expansion, cash generation, scale-up and clear 2026 targets) materially outweigh the negatives.Company Guidance
Record Revenue Growth
Revenue of $427 million for FY2025, a 142% increase year-over-year versus FY2024, driven primarily by strong solar cell shipments and higher average selling prices to U.S. end customers.
Large Gross Profit and Margin Expansion
Gross profit rose to $96.3 million (up 340% from $21.9 million in 2024) and gross margin expanded to 22.5% from 12.4% in the prior year, reflecting a higher mix of U.S. end-customer sales and stronger pricing.
Significant EBITDA and Adjusted EBITDA Improvement
Reported EBITDA was $95.8 million (up 40% from $68.2 million). Non-GAAP adjusted EBITDA was $110.8 million for 2025, up ~228% from $33.8 million in 2024.
Strong Operational Scale-Up — Ethiopia and Houston
Completed and ramped the 4 GW Ethiopia cell facility (completed Oct 2025) to full nameplate capacity; shipped 2.3 GW from Ethiopia to U.S. customers during FY2025. Launched commercial operation of a 1 GW module plant in Houston in Q4 2025 and delivered 249 MW of modules in 2025 (domestic and OEM).
Meaningful Cash Generation and Balance Sheet Improvement
Generated $133 million in operating cash flow in 2025, invested $92 million of CapEx (Ethiopia and U.S. module operations), and ended FY2025 with $58.9 million in cash and restricted cash versus $17.2 million at year-end 2024.
Ambitious 2026 Operational and Financial Guidance
Guidance for FY2026 shipments: 5.5–5.8 GW of solar cells and 1–1.3 GW of modules. Targeting adjusted net income of approximately $90–$100 million for 2026 while investing substantially in R&D and U.S. technology/IP.
Strategic Acquisition and U.S. Manufacturing Focus
Acquired the VSUN brand (migration of sales, IP, certifications) without dilution to TOYO shareholders, accelerating go-to-market capability. Announced plans to expand Houston module capacity to 2 GW and finalize plans for domestic cell production.
TOYO Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
TOYO Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Mar 31, 2026 | $7.42 | $7.33 | -1.21% |
Sep 08, 2025 | $5.71 | $5.42 | -5.08% |
Apr 28, 2025 | $2.79 | $2.88 | +3.23% |
Aug 21, 2024 | $4.91 | $4.87 | -0.81% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does TOYO Co Ltd (TOYO) report earnings?
TOYO Co Ltd (TOYO) is schdueled to report earning on Aug 26, 2026, Before Open (Confirmed).
What is TOYO Co Ltd (TOYO) earnings time?
TOYO Co Ltd (TOYO) earnings time is at Aug 26, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is TOYO EPS forecast?
TOYO EPS forecast for the fiscal quarter 2026 (Q2) is 1.02.