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Daqo New Energy (DQ)
NYSE:DQ
Earnings Data
Report Date
May 05, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
-0.37Last Year’s EPS
-1.07Same Quarter Last Year
Moderate Sell
Based on 1 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Neutral
The call conveyed a cautiously constructive tone: management highlighted meaningful operational and financial improvements (positive EBITDA, positive operating cash flow, record low cash costs, strong liquidity, and guidance for higher 2026 production) and emphasized supportive regulatory initiatives to rebalance the industry. At the same time, material challenges remain, including a large YoY revenue and production decline, continued full-year gross losses and a sizable net loss, pricing volatility, and some credit/receivables risk. Overall, the company appears to be stabilizing and positioned to benefit from industry recovery but is not yet fully back to profitability.Company Guidance
Utilization and Production in Line with Guidance
Utilization improved from 33% in Q1 to 55% in Q4 2025; annual production was 123,652 metric tons, within guidance of 121,000–124,000 MT.
Sales Volume and Inventory Management
Full-year 2025 sales volume reached 126,707 metric tons, exceeding production and reducing year-end inventory to a reasonable level.
Material Improvement in Profitability Metrics
EBITDA swung to a positive $1.7 million in 2025 from a negative $337.4 million in 2024; Q4 EBITDA was $52 million vs negative $235 million in Q4 2024, reflecting meaningful margin recovery.
Significant Narrowing of Net Loss and Operating Loss
Net loss attributable to shareholders narrowed to $170.5 million in 2025 from $345.2 million in 2024 (a reduction of ~50.6% by dollar amount); loss from operations improved to $270 million in 2025 from $564 million in 2024.
Turnaround in Operating Cash Flow and Strong Liquidity
Net cash provided by operating activities was positive $56.1 million for the 12 months ended Dec 31, 2025 (vs a $435 million outflow in 2024). Company reported $980 million cash, $114 million short-term investments, $135.5 million note receivables and ~$972.4 million fixed-term deposits — highly liquid assets ~ $2.27 billion per management.
Cost Reductions and Record Low Cash Costs
Q4 production costs declined 9% to $5.83/kg from $6.38/kg in Q3 2025; cash costs hit a record low of $4.46/kg in Q4 (down 2% QoQ from $4.54/kg) and idle-related costs fell from $1.18/kg to $0.74/kg QoQ.
Positive Industry Backdrop and 2026 Guidance
China installed solar PV capacity grew 14% YoY to 317 GW in 2025. Company guided 2026 production to 140,000–170,000 MT and Q1 2026 production to ~35,000–40,000 MT, indicating planned volume recovery.
Strategic and Regulatory Momentum
Regulatory 'anti-involution' measures and updated laws aim to restrict below-cost sales and curb overcapacity, creating structural tailwinds for price stabilization and industry consolidation that management expects to benefit higher-quality players like Daqo.
DQ 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
DQ Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 26, 2026 | $25.10 | $23.95 | -4.58% |
Oct 27, 2025 | $26.03 | $29.69 | +14.06% |
Aug 26, 2025 | $23.90 | $23.72 | -0.75% |
Apr 29, 2025 | $14.81 | $12.77 | -13.77% |
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 Daqo New Energy (DQ) report earnings?
Daqo New Energy (DQ) is schdueled to report earning on May 05, 2026, Before Open (Confirmed).
What is Daqo New Energy (DQ) earnings time?
Daqo New Energy (DQ) earnings time is at May 05, 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 DQ EPS forecast?
DQ EPS forecast for the fiscal quarter 2026 (Q1) is -0.37.