Daqo New Energy ( (DQ) ) has released its Q4 earnings. Here is a breakdown of the information Daqo New Energy presented to its investors.
Daqo New Energy Corp. is a leading manufacturer of high-purity polysilicon, primarily serving the global solar photovoltaic (PV) industry. The company is recognized for its low-cost production capabilities and high-quality products.
In its latest earnings report, Daqo New Energy announced a challenging fiscal year 2024, marked by a significant decrease in revenues and profitability due to a downturn in polysilicon prices and overcapacity in the solar PV industry. Despite these challenges, the company maintained a strong liquidity position.
Key financial highlights for the fourth quarter of 2024 include a revenue of $195.4 million, a net loss of $180.2 million, and an adjusted net loss of $170.7 million. The company also reported a gross loss of $65.3 million and an EBITDA of -$236.5 million. For the full year, Daqo recorded revenues of $1.03 billion and a net loss of $345.2 million, reflecting the adverse market conditions.
Looking ahead, Daqo New Energy is cautiously optimistic about the future. The company plans to maintain a low production rate in the first quarter of 2025, with expectations of producing 25,000 to 28,000 metric tons of polysilicon. Management remains confident in its ability to navigate the current market challenges and capitalize on long-term growth opportunities in the solar PV sector.