China's Daqo New Energy Q4 revenue misses

Daqo New Energy

26/02/2026 10:08

Overview

China polysilicon maker's Q4 revenue missed analyst expectations

Adjusted net income for Q4 beat analyst expectations

Company's adjusted EBITDA for Q4 beat analyst expectations

Outlook

Company expects Q1 2026 polysilicon production of 35,000 MT to 40,000 MT

Daqo New Energy forecasts full-year 2026 polysilicon production at 140,000 MT to 170,000 MT

Company sees anti-involution initiatives supporting balanced supply and demand in solar PV industry

Result Drivers

PRODUCTION VOLUME INCREASE - Polysilicon production volume rose to 42,181 MT in Q4 2025, up from 30,650 MT in Q3 2025, aiding cost reduction

COST REDUCTION - Daqo reduced production costs through process improvements and efficiency gains, lowering total production costs by 9%

STRATEGIC SALES EFFORTS - Co ramped up sales efforts in H2 2025 to capitalize on favorable pricing dynamics, enhancing customer confidence

Company press release: ID:nPn1z9nyra

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Revenue
Miss
$221.70 mln
$273.70 mln (4 Analysts)
Q4 Adjusted Net Income
Beat
-$7.30 mln
-$23.57 mln (3 Analysts)
Q4 Net Income
-$7.30 mln
Q4 Adjusted EBITDA
Beat
$52.50 mln
$46.15 mln (2 Analysts)
Q4 Adjusted EBITDA Margin
23.70%
Q4 Gross Profit
$15.40 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 2 "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 $35.00, about 39.4% above its February 25 closing price of $25.10

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)