China's Daqo New Energy Q3 revenue jumps on higher polysilicon sales volume

Daqo New Energy

27/10/2026 10:11

Overview
China polysilicon maker's Q3 revenue more than triples sequentially on higher sales volume
Company's net loss narrows from prior qtr but remains wider than a year ago
Lower production costs and improved efficiency helped reduce losses, but market conditions remain difficult

Outlook
Company expects Q4 2026 polysilicon production volume of 35,000 MT to 45,000 MT
Daqo New Energy forecasts full-year 2026 polysilicon production of 175,000 MT to 185,000 MT
Company says elevated industry inventories and weak near-term demand continue to challenge the market

Result Drivers
HIGHER SALES VOLUME - Co said sequential revenue growth was primarily driven by increased polysilicon sales volume after resuming normal sales activities in June
LOWER PRODUCTION COSTS - Co said average total production cost and cash cost fell to new record lows due to improved manufacturing efficiency and cost control
INVENTORY IMPAIRMENT PROVISIONS - Co said lower inventory impairment provisions contributed to improved gross margin

Company press release: ID:nPn6DQPSNa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Beat
$194.20 mln
$61.90 mln (1 Analyst)
Q3 Adjusted Net Loss
 
$52.90 mln
 
Q3 Net Loss
 
$52.90 mln
 
Q3 Adjusted EBITDA
Miss
-$9.20 mln
$4.41 mln (1 Analyst)
Q3 Adjusted EBITDA Margin
 
-4.70%
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 1 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the renewable energy equipment & services peer group is "buy"
Wall Street's median 12-month price target for Daqo New Energy Corp is $19.00, about 87.9% above its October 26 closing price of $10.11

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)