Daqo New Energy (DQ) shares soared 6.4% in the last trading session to close at $25.86. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 25.3% gain over the past four weeks.Optimism over strong customer demand for polysilicon seemed to have driven the stock higher. The company is benefiting from strong demand for its high-quality N-type polysilicon despite headwinds from lower polysilicon selling prices. Its energy efficiency effo ...

Daqo New Energy Corp. (NYSE:DQ) Q4 2023 Earnings Conference Call February 28, 2024 8:00 AM ET Company Participants Anita Zhu - Investor Relations Xiang Xu - Chairman and Chief Executive Officer Ming Yang - Chief Financial Officer Conference Call Participants Philip Shen - Roth MKM Alan Lau - Jefferies Operator Good day, and welcome to the Daqo New Energy Fourth Quarter and Fiscal Year 2023 Results Conference Call. All participants will be in the listen-only mode. [Operator Instructions] After today's presen ...

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. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -23.81%. A quarter ago, it was expected that this solar panel parts maker would post earnings of $1.70 per share when it actually produced a loss of $0.09, delivering a surprise of -105.29%.Over the last four quarter ...

February 28, 2024 Q4 and Fiscal Year 2023 Results Presentation Safe Harbor Statement This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “guidance” and similar statements. Among other things, the outlook for the first quart ...

Production and Sales - Polysilicon production volume reached 61,014 MT in Q4 2023, up from 57,664 MT in Q3 2023[2] - Full year 2023 polysilicon production volume was 197,831 MT, a 47.8% increase from 133,812 MT in 2022[4] - The company expects Q1 2024 polysilicon production volume to be approximately 60,000 MT to 62,000 MT[12] - The anticipated full year 2024 production volume is projected to be between 280,000 MT and 300,000 MT, representing a 40% to 50% increase from 2023[12] Revenue and Profitability - Revenue for Q4 2023 was $477.1 million, a decrease from $484.8 million in Q3 2023[3] - Revenue for the full year 2023 was $2,308.5 million, down from $4,608.4 million in 2022 due to lower average selling prices[4] - Full year 2023 revenues were $2,308.5 million, a decrease from $4,608.4 million in 2022, primarily due to lower polysilicon average selling prices (ASPs)[20] - Gross profit increased to $87.2 million in Q4 2023, compared to $67.8 million in Q3 2023, with a gross margin of 18.3%[3] - Gross profit for 2023 was $920.7 million, down from $3,407.9 million in 2022, with a gross margin of 39.9% compared to 74.0% in 2022[22] - EBITDA (non-GAAP) for 2023 was $918.6 million, a decrease from $3,150.7 million in 2022, with an EBITDA margin of 39.8% compared to 68.4% in 2022[28] Net Income - Net income attributable to shareholders was $44.9 million in Q4 2023, a significant recovery from a net loss of $6.3 million in Q3 2023[3] - Net income attributable to Daqo New Energy Corp. shareholders was $44.9 million in Q4 2023, compared to a net loss of $6.3 million in Q3 2023 and a loss of $332.7 million in Q4 2022[17] - Adjusted net income (non-GAAP) for 2023 was $554.7 million, down from $2,122.3 million in 2022, with adjusted earnings per basic ADS at $7.42 compared to $27.97 in 2022[27] - Adjusted net income (non-GAAP) attributable to Daqo New Energy Corp. shareholders was $65,954 thousand for the three months ended December 31, 2023, compared to $43,975 thousand in the previous quarter[55] Cash Flow and Financial Position - The company generated approximately $1.6 billion in operating cash flow for 2023, maintaining a cash balance of $3.0 billion[7] - Net cash provided by operating activities for 2023 was $1,610.9 million, a decrease from $2,462.7 million in 2022, primarily due to lower revenues and gross margin[31] - Cash, cash equivalents, and restricted cash at the end of the period were $3,047,956 thousand, down from $3,520,351 thousand at the beginning of the period[51] - As of December 31, 2023, the company had $3,048.0 million in cash and cash equivalents, down from $3,520.4 million a year earlier[29] Expenses - Selling, general and administrative (SG&A) expenses were $39.0 million in Q4 2023, down from $89.7 million in Q3 2023 and $44.0 million in Q4 2022[15] - Research and development (R&D) expenses increased to $3.3 million in Q4 2023 from $2.8 million in Q3 2023 and $2.7 million in Q4 2022, focusing on quality improvements and N-type product research[16] Operational Performance - Income from operations was $83.3 million in Q4 2023, significantly up from $22.5 million in Q3 2023 but down from $623.1 million in Q4 2022, with an operating margin of 17.5%[17] - Total current liabilities increased to $851,087 thousand as of December 31, 2023, compared to $810,318 thousand in the previous quarter[46] - Total assets decreased to $7,441,524 thousand as of December 31, 2023, from $7,594,096 thousand a year earlier[48] - The company’s total liabilities stood at $1,001,625 thousand as of December 31, 2023, compared to $948,050 thousand in the previous quarter[46] Shareholder Returns - The company repurchased 14.55 million ADSs for approximately $491 million as part of its $700 million share buyback program[10]

SHANGHAI, Jan. 30, 2024 /PRNewswire/ -- Daqo New Energy Corp. (NYSE: DQ) ("Daqo New Energy", the "Company" or "we"), a leading manufacturer of high-purity polysilicon for the global solar PV industry, today announced that its subsidiary Xinjiang Daqo New Energy ("Xinjiang Daqo") has provided an estimate of its net profit for the fiscal year 2023 ended December 31, 2023 to the Shanghai Stock Exchange. Xinjiang Daqo estimates that under PRC GAAP, its net profit attributable to Xinjiang Daqo's shareholders in ...

Daqo New Energy Corp. (DQ) issued an update on its $700 million share repurchase program, which was authorized in 2022 and ran from Nov 7, 2022, to Dec 31, 2023.As of the conclusion of 2023, the company repurchased 14.55 million American Depositary Shares (ADSs) — equivalent to 72.75 million ordinary shares — at an average price of $33.71 per ADS, totaling around $491 million. This accounts for nearly 70.1% of the maximum amount allocated for the share repurchase initiative. The total ordinary shares outsta ...

SHANGHAI, Jan. 11, 2024 /PRNewswire/ -- Daqo New Energy Corp. (NYSE: DQ) ("Daqo New Energy", the "Company" or "we"), a leading manufacturer of high-purity polysilicon for the global solar PV industry, today provided an update on its US$700 million share repurchase program approved in 2022 and effective from November 7, 2022 to December 31, 2023. By the end of 2023, the Company had repurchased 14.55 million ADSs (representing 72.75 million ordinary shares) at an average price of $33.71 per ADS for a total of ...

Justin Paget 2023 has been a devastating year for solar stocks. If not for the recent Santa Claus rally, most solar stocks would've been down more than 40%. The new momentum is caused by the expected rate cuts of the Federal Reserve in 2024. Solar investments are costly and even more when you have to pay 5% interest on a loan. Therefore, solar investments have become less interesting in both America and Europe. Further, changes in government incentive programs made decision-making even worse with consumers ...

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. [Operator Instructions] Please note that this event ...