NYSE$DQ
Daqo New Energy Corp-ADR · Q2 2026 earnings
Q2 2026 earnings · · Investor relations
Briefing
Daqo New Energy Corp-ADR reported unaudited Q2 2026 financial results on August 20, 2026, showing sequential revenue growth and narrower losses amid challenging polysilicon market conditions.
The company achieved revenue of $62.7 million in Q2 2026, up from $26.7 million in Q1 but down from $75.2 million in Q2 2025, driven by resumed sales activity in June. Net loss narrowed to $81.2 million ($1.20 per ADS) from $88.4 million in the prior quarter, with EBITDA improving to a loss of $29.3 million. The firm maintained a strong debt-free balance sheet with $555.3 million in cash and nearly $1.92 billion in readily convertible assets.
- Revenue rose sequentially to $62.7 million on higher sales volume of 15,190 MT polysilicon, though ASP fell to $4.04/kg.
- Gross margin improved to -132% from -521.5% in Q1 due to lower inventory impairment provisions, with production cost stable at $5.95/kg.
- Net loss per ADS narrowed to $1.20, and non-GAAP EBITDA loss improved to $29.3 million (-46.8% margin).
- Strong liquidity position with $1.92 billion in liquid assets and zero debt; Q3 production guidance set at 40,000-45,000 MT.
Headline financials
Revenue & EPS history
Daqo New Energy · Revenue · Quarterly
$62.7M
Forward guidance
The company provided production guidance for Q3 and full year 2026, citing ongoing market recovery efforts and diversification into AIDC power infrastructure.
Tailwinds
- Q3 2026 polysilicon production expected at 40,000-45,000 MT.
- Full year 2026 production guidance of 160,000-180,000 MT.
- Signs of polysilicon price stabilization and rebound following industry self-regulation initiatives.
- Expansion into AI data center power infrastructure for diversification.
Headwinds
- Continued pricing pressure and low utilization rates in the polysilicon market.
- Outlook subject to risks and uncertainties from market conditions and policy developments.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports
-0.3%
Avg return
Earnings day
+2.1%
Avg return
5 days after
+1.6%
Avg return
30 days after
43%
26 / 60 earnings
Positive
+23.8%
Q1 2019
Best reaction
-19.1%
Q1 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | — | — | — | |
| Q4 2025 | -4.0% | +5.2% | -20.0% | |
| Q3 2025 | +14.4% | +25.5% | +21.1% | |
| Q1 2025 | -13.8% | -13.0% | -6.7% | |
| Q4 2024 | -1.8% | -7.5% | -15.5% | |
| Q3 2024 | +0.3% | +4.0% | -11.0% | |
| Q2 2024 | -2.3% | -3.1% | +11.7% | |
| Q1 2024 | -19.1% | -20.3% | -10.4% | |
| Q4 2023 | +9.2% | +17.7% | +44.4% | |
| Q3 2023 | +9.1% | +12.0% | +4.1% | |
| Q2 2023 | +0.6% | +2.4% | +2.1% | |
| Q1 2023 | +8.5% | +7.3% | -9.8% | |
| Q4 2022 | +5.1% | +15.7% | +3.7% | |
| Q3 2022 | -8.6% | -13.2% | -1.8% | |
| Q2 2022 | +8.4% | +4.0% | +4.5% | |
| Q1 2022 | -7.0% | -10.9% | +6.9% | |
| Q4 2021 | +21.7% | +11.0% | +0.3% | |
| Q3 2021 | +2.1% | -10.7% | -23.2% | |
| Q2 2021 | -5.7% | +0.6% | +27.1% | |
| Q1 2021 | +7.8% | +9.4% | -13.8% | |
| Q4 2020 | +8.8% | +30.8% | -8.1% | |
| Q3 2020 | +2.0% | +8.5% | +40.0% | |
| Q2 2020 | +9.4% | +7.5% | -0.2% | |
| Q1 2020 | +5.4% | -4.7% | +9.3% | |
| Q4 2019 | -7.0% | -7.5% | -12.2% | |
| Q3 2019 | +3.6% | +6.2% | +28.9% | |
| Q2 2019 | -2.2% | +4.8% | +14.1% | |
| Q1 2019 | +23.8% | +17.4% | +38.1% | |
| Q4 2018 | -1.8% | -1.9% | +2.4% | |
| Q3 2018 | -13.5% | -3.0% | +1.9% | |
| Q2 2018 | +6.8% | +3.3% | -11.0% | |
| Q1 2018 | +1.0% | +1.4% | -26.1% | |
| Q4 2017 | -13.8% | -15.6% | -11.6% | |
| Q3 2017 | -1.0% | +7.2% | +16.6% | |
| Q2 2017 | -7.5% | -10.8% | -9.6% | |
| Q1 2017 | +19.5% | +18.0% | +8.4% | |
| Q4 2016 | -8.6% | -6.8% | -23.0% | |
| Q3 2016 | +4.5% | -2.4% | -6.8% | |
| Q2 2016 | -2.2% | -9.3% | -2.6% | |
| Q1 2016 | +6.7% | — | — | |
| Q4 2015 | -3.9% | — | — | |
| Q3 2015 | +15.5% | — | — | |
| Q2 2015 | -8.7% | — | — | |
| Q1 2015 | +1.4% | — | — | |
| Q4 2014 | +12.0% | — | — | |
| Q3 2014 | -5.4% | — | — | |
| Q2 2014 | -8.9% | — | — | |
| Q1 2014 | -8.9% | — | — | |
| Q4 2013 | -1.4% | — | — | |
| Q3 2013 | -13.6% | — | — | |
| Q2 2013 | -1.7% | — | — | |
| Q1 2013 | -1.7% | — | — | |
| Q4 2012 | -8.9% | — | — | |
| Q3 2012 | +4.3% | — | — | |
| Q4 2011 | -8.4% | — | — | |
| Q4 2010 | -8.4% | — | — | |
| Q4 2009 | -8.4% | — | — | |
| Q1 2012 | +0.0% | — | — | |
| Q3 2011 | -16.4% | — | — | |
| Q2 2011 | +0.0% | — | — | |
| Q1 2011 | -4.4% | — | — | |
| Q3 2010 | — | — | — | |
| Q2 2010 | — | — | — | |
| Q1 2010 | — | — | — |
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