DQ Stock Recent News

SHANGHAI , Jan. 17, 2025 /PRNewswire/ -- Daqo New Energy Corp. (NYSE: DQ) ("Daqo New Energy", the "Company" or "we"), a leading manufacturer of high-purity polysilicon for the global solar PV industry, today announced that its subsidiary Xinjiang Daqo New Energy ("Xinjiang Daqo") has provided an estimate of its net loss for the fiscal year ended December 31, 2024 to the Shanghai Stock Exchange. Xinjiang Daqo estimates that under PRC GAAP, its net loss attributable to Xinjiang Daqo's shareholders in FY2024 would be in the range of RMB2.6~3.1 billion, compared to net profit attributable to Xinjiang Daqo's shareholders of RMB5.8 billion in FY2023.

DQ's bottom has materialized, as the polysilicon spot prices stabilized and the stock continues to enjoy uptrend bullish support. Much of the tailwinds are attributed to the moderation in capacity utilization and market consolidation, one that DQ may survive, thanks to its healthy balance sheet. If anything, solar installations within China continue to grow, with domestic demand likely to well balance the over supply issues and demand headwinds from the US/ EU.

SHANGHAI , Oct. 15, 2024 /PRNewswire/ -- Daqo New Energy Corp. (NYSE: DQ) ("Daqo New Energy" or the "Company"), a leading manufacturer of high-purity polysilicon for the global solar PV industry, today announced it plans to release its unaudited financial results for the third quarter of 2024 ended September 30, 2024 before U.S. markets open on Wednesday, October 30, 2024. The Company has scheduled a conference call to discuss the results at 8:00 AM U.S. Eastern Time on October 30, 2024 (8:00 PM Beijing / Hong Kong time on the same day).

Shares of Daqo New Energy Corp (DQ, Financial) surged 5.75% in mid-day trading on Oct 2. The stock reached an intraday high of $22.42, before settling at $21.90, up from its previous close of $20.71.

DQ remains a compelling Buy due to its robust balance sheet, allowing it to weather the near-term market consolidation in H2'24. At the same time, the management's lowered capacity output and capex guidance already position it for near-term recovery and cash preservation. If anything, its partner, Longi, already highlights robust growth in the APAC region with "smooth customs clearance for shipments to the North American region."

The U.S. added a record-breaking 32.4 gigawatts of solar electric generating capacity in 2023, evidence of the continued growth of the renewable energy industry thanks to strong customer demand, supportive government policies, and rapid advances in solar technology. A long-term shift in the energy sector toward decarbonization through green energy sources is well underway and likely to continue for years to come.

Daqo New Energy's Q2 results showed a significant decline in sales and EPS, with polysilicon prices falling below production costs. The company expects lower production due to tough market conditions but maintains a strong financial position. Despite the current downturn, I believe DQ will emerge stronger, though I'm not adding to my position yet due to ongoing price uncertainties.

Daqo New Energy (DQ) came out with a quarterly loss of $1.81 per share versus the Zacks Consensus Estimate of a loss of $0.24. This compares to earnings of $1.34 per share a year ago.

SHANGHAI , Aug. 26, 2024 /PRNewswire/ -- Daqo New Energy Corp. (NYSE: DQ) ("Daqo New Energy," the "Company" or "we"), a leading manufacturer of high-purity polysilicon for the global solar PV industry, today announced its unaudited financial results for the second quarter of 2024. Second Quarter 2024 Financial and Operating Highlights Polysilicon production volume was 64,961 MT in Q2 2024, compared to 62,278 MT in Q1 2024 Polysilicon sales volume was 43,082 MT in Q2 2024 compared to 53,987 MT in Q1 2024 Polysilicon average total production cost (1) was $6.19/kg in Q2 2024 compared to $6.37/kg in Q1 2024 Polysilicon average cash cost(1) was $5.39/kg in Q2 2024, compared to $5.61/kg in Q1 2024 Polysilicon average selling price (ASP) was $5.12/kg in Q2 2024, compared to $7.66/kg in Q1 2024 Revenue was $219.9 million in Q2 2024, compared to $415.3 million in Q1 2024 Gross loss was $159.2 million in Q2 2024, compared to gross profit of $72.1 million in Q1 2024.

SHANGHAI , Aug. 12, 2024 /PRNewswire/ -- Daqo New Energy Corp. (NYSE: DQ) ("Daqo New Energy" or the "Company"), a leading manufacturer of high-purity polysilicon for the global solar PV industry, today announced it plans to release its unaudited financial results for the second quarter of 2024 ended June 30, 2024 before U.S. markets open on Monday, August 26, 2024. The Company has scheduled a conference call to discuss the results at 8:00 AM U.S. Eastern Time on August 26, 2024 (8:00 PM Beijing / Hong Kong time on the same day).