DQ Stock Recent News

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).

Daqo (DQ) announced a $100-million share repurchase program, demonstrating optimism in its business development and commitment to shareholder value amid industry challenges.

SHANGHAI , July 22, 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 that its board of directors has approved a US$100 million share repurchase program, effective today through June 30, 2025. The board of directors has authorized Daqo New Energy to repurchase up to US$100 million worth of its own issued and outstanding ordinary shares or American depositary shares ("ADSs") representing ordinary shares in open-market purchases, in negotiated transactions off the market, in block trades or through other legally permissible means in accordance with applicable United States securities laws.