Daqo New Energy(US:DQ) 智通财经网·2026-02-26 15:36Core Viewpoint - Daqo New Energy's stock price fell over 6% to $23.5 following its latest earnings report, which revealed a non-GAAP earnings per share of -$0.11 for Q4 2025, exceeding market expectations by $0.14, but revenue of $221.7 million, a 13.5% year-over-year increase, was significantly below market expectations, contributing to the stock pressure [1] Financial Performance - The company's Q4 2025 revenue was $221.7 million, reflecting a 13.5% year-over-year growth, but it fell short of market expectations [1] - Daqo's non-GAAP earnings per share for the same quarter was -$0.11, which was better than market expectations by $0.14 [1] Production and Sales - The production of polysilicon increased to 42,181 tons in the quarter, showing significant growth compared to Q3 [1] - However, sales volume decreased to 38,167 tons, down from 42,406 tons in the previous quarter, indicating fluctuations in downstream demand and inventory reduction [1] Cost Management - The average total production cost decreased to $5.83 per kilogram, while cash cost fell to $4.46 per kilogram, which helps mitigate the pressure from price fluctuations [1] - The average selling price (ASP) of polysilicon was $5.83 per kilogram, showing a slight increase quarter-over-quarter [1] Future Outlook - The company projects Q1 2026 production to be between 35,000 to 40,000 tons, with an annual production forecast of 140,000 to 170,000 tons [1] - Despite the positive signals from cost reductions and increased production, investor confidence in short-term profit improvement remains cautious due to uncertainties in industry supply-demand dynamics and price recovery [1]