Daqo New Energy Announces Unaudited Third Quarter 2026 Financial Results
Daqo New Energy posted Q3 2026 revenue of $194.2 million, up sharply from $62.7 million in Q2 but below the $244.6 million a year earlier, as sales volumes tripled sequentially to 46,910 MT. Losses narrowed materially: net loss was $52.9 million ($0.78 per ADS) versus $81.2 million in Q2, gross margin improved to negative 31.2%, and EBITDA improved to negative $9.2 million, with record-low production costs of $5.37/kg. The company holds $2.06 billion in readily convertible assets with zero debt, but ASP of $4.12/kg remains below production cost, and it is evaluating a near-term utilization reduction amid elevated industry inventories.
Key figures
- Revenue
- 194200000
- Guidance
- Q4 2026 polysilicon production approximately 35,000-45,000 MT; FY2026 production 175,000-185,000 MT
- Gross margin
- -31.2%
- Ebitda margin
- -4.7%
- Liquidity usd
- 2060000000
- Asp usd per kg
- 4.12
- Cash cost usd per kg
- 4.23
- Polysilicon production mt
- 53469
- Production cost usd per kg
- 5.37
- Polysilicon sales volume mt
- 46910
AI analysis
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