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Daqo New Energy Corp. (DQ) Q4 2023 Earnings Call Transcript

Daqo New Energy (DQ) came out with quarterly earnings of $0.64 per share, missing the Zacks Consensus Estimate of $0.84 per share. This compares to earnings of $4.71 per share a year ago.

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Daqo New Energy (DQ) repurchased shares worth $491 million by 2023 end, expressing confidence in undervaluation and emphasizing capital preservation amid industry challenges.

Solar stocks have suffered in 2023, but the recent momentum driven by expected rate cuts from the Federal Reserve could move solar stocks higher in 2024. Daqo New Energy is facing a fierce oversupply environment, which is pressuring profits, the average selling price of polysilicon, and the stock price. However, new initiatives to manufacture their own silicon metal and a dive into the world of semiconductor-grade polysilicon can positively impact profit margins.

The project by Daqo (DQ) is anticipated to acquire certificates for renewable energy and green power as well as green electricity.

Daqo New Energy has a strong balance sheet with $3.3B in cash and no debt, providing flexibility during the downturn in polysilicon prices. The company plans to utilize its available capital for share buybacks, improving EPS for shareholders. Daqo New Energy has experienced significant revenue growth, with sales increasing due to higher average sale prices and increased capacity.

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Daqo New Energy Corp. (NYSE:DQ ) Q3 2023 Earnings Conference Call October 30, 2023 8:00 AM ET Company Participants Xiang Xu - Chairman and Chief Executive Officer Ming Yang - Chief Financial Officer Conference Call Participants Philip Shen - ROTH MKM Alan Lau - Jefferies Gordon Johnson - GLJ Research Frank Fan - Nomura Operator Good morning, and welcome to Daqo Energy Third Quarter 2023 Results Conference Call. All participants will be in listen-only mode.

Daqo New Energy (DQ) came out with a quarterly loss of $0.09 per share versus the Zacks Consensus Estimate of $1.70. This compares to earnings of $4.18 per share a year ago.