Thu, Mar. 24, 6:04 AM
Nov. 18, 2015, 5:47 AM
- DAQO New Energy (NYSE:DQ): Q3 EPS of $0.59
- Revenue of $46.56M (-1.5% Y/Y)
Aug. 11, 2015, 5:23 AM
- DAQO New Energy (NYSE:DQ): Q2 EPS of -$0.09 beats by $0.05.
- Revenue of $34.33M (-21.5% Y/Y) misses by $0.62M.
May 8, 2015, 5:40 AM
- DAQO New Energy (NYSE:DQ): Q1 EPS of $0.12 beats by $0.07.
- Revenue of $41.87M (-0.5% Y/Y) misses by $2.13M.
Apr. 10, 2015, 6:00 PM
- With China having recently hiked its 2015 solar installation target by 2.8GW to 17.8GW (up from 2014's 14GW), Daqo (NYSE:DQ) thinks "the supply and demand of polysilicon will remain in balance" this year, even though some new capacity might go online.
- The company reiterates its plans to hike its annual polysilicon capacity from 6,150 MT to 12,150 MT by the end of June, and in doing so cut its total production cost to $12/kg (it was at $13.23/kg in Q4). Daqo is also carrying out "early research" for an expansion of its Xinjiang facilities that would bring total capacity up to 25,000 MT.
- Q4 polysilicon shipments totaled 1,537 MT, down slightly from Q3's 1,598 MT but up from Q4 2013's 1,271 MT. Wafer shipments totaled 17.8M pieces vs. 18.5M in Q3 and 16.7M a year ago. Ahead of the capacity ramp, Daqo expects to report Q1 polysilicon shipments of 1,500 MT and wafer shipments of 17.5M-18M.
- With the help of better prices, polysilicon revenue rose 40% Y/Y to $33.8M, and wafer revenue 43% to $15.7M. Gross margin (non-GAAP) rose to 32.1% from Q3's 31.7% and Q4 2013's 18.5%. Operating expenses fell by ~$600K Y/Y to $4.95M. Daqo ended 2014 with $29.2M in cash and $237.1M in borrowings.
- Shares rose to $29.20 in regular trading. They haven't topped $30 since December.
- Q4 results, PR
Apr. 10, 2015, 6:08 AM
- DAQO New Energy (NYSE:DQ): Q4 EPADS of $0.39 misses by $0.34.
- Revenue of $49.47M (+33.6% Y/Y) beats by $3.37M.
Nov. 18, 2014, 11:36 AM
- Under pressure for much of last week, solar stocks are rallying (TAN +4.3%) after SunEdison (SUNE +23.5%) and its TerraForm Power (TERP +29.1%) YieldCo announced they're buying leading wind project developer First Wind for up to $2.4B, and JA Solar (JASO +4%) beat Q3 estimates and upped its full-year cell/module shipment guidance to 3.1GW-3.2GW from 2.9GW-3.1GW.
- Gainers: SCTY +3.9%. SOL +4.5%. TSL +3.7%. YGE +2.7%. JKS +3.4%. HSOL +2.8%. ASTI +6%. DQ +3.2%. RGSE +2.6%.
- SunEdison CEO Ahmad Chatila declares the First Wind deal will double his company's addressable market. Cowen thinks SunEdison "can leverage First Wind’s platform to push into international markets for wind given the potential expiration of the production tax credit for U.S. wind projects."
- Along with its results/guidance, JA announced a $90M buyback; it's good for repurchasing 23% of shares at current levels, if fully used. JA's Q3 gross margin was 15%, -20 bps Q/Q but +370 bps Y/Y. Cell/module shipments rose 15.2% Q/Q and 57% Y/Y to 500.2MW.
Nov. 13, 2014, 9:51 AM
- Net income of $5.9M, or $0.64 per diluted share vs. -10.3M, or -$1.49 per diluted share in the same quarter a year ago.
- Daqo (DQ +2.3%) shipped 1,598 MT of polysilicon in Q3, up from 1,436 MT in Q2 and 1,298 MT a year ago. The company expects Q4 shipments of 1,500MT-1,550 MT.
- Average cash cost fell to $10.72/kg from $11.48 in Q2 and $11.82 a year ago, and average production cost fell to $13.05/kg from $14.13 and $15.98.
- Gross margin rose to 31.7% from 30.9% in Q2 and 9.8% a year ago.
- ASP rose to $21.50 from Q2's $22.04. SG&A spend totaled $2.5M, and R&D $200K. The company had $33M in cash at the end of Q3.
- Q3 results
Nov. 13, 2014, 6:22 AM
- DAQO New Energy (NYSE:DQ): Q3 EPS of $0.64 misses by $0.08.
- Revenue of $47.3M (+59.8% Y/Y) beats by $4.5M.
Nov. 11, 2014, 12:15 PM
- Newly-public Vivint Solar (VSLR -21.6%) has nosedived after missing Q3 EPS estimates and guiding for Q4 revenue of $5.5M-$6.5M, below a $7.3M consensus. Installations are expected to fall to 45MW-47MW from Q3's 49MW.
- Rivals SolarCity (SCTY -3%) and SunPower (SPWR -3.2%) are following Vivint lower, as are several other solar names. RGSE -6.2%. ENPH -5.7%. CSIQ -2.5%. JKS -2.2%. DQ -4.1%. CSUN -2.7%.
- Solar ETFs: KWT, TAN
Nov. 6, 2014, 10:07 AM
Aug. 15, 2014, 9:41 AM
- Daqo (NYSE:DQ) shipped 1,436MT of polysilicon in Q2, up from 1,391MT in Q1 and 975MT a year ago. The company expects Q3 shipments of 1,450MT-1,500MT, and forecasts full-year production will be close to a nameplate capacity of 6,150MT.
- Average cash cost fell to $11.48/kg from $11.75 in Q1 and $12.21 a year ago, and average production cost fell to $14.13/kg from $14.49 and $17.64. For the full year, Daqo is respectively aiming for average cash and production costs of $11.30/kg and $14/kg.
- Gross margin rose to 30.9% from 30.2% in Q1 and -3.9% a year ago. ASP rose to $22.04 from Q1's $21.63. SG&A spend totaled $1.5M, and R&D $200K.
- Daqo is now aiming to grow capacity to 12,150MT by Q2 2015; the company was previously targeting the end of 2014. Construction work for the expansion of its Xinjiang polysilicon plant is expected to finish by the end of November.
- Daqo had $77.7M in cash at the end of Q2, and $253.4M in borrowings.
- Q2 results, PR
Aug. 15, 2014, 7:14 AM
- Net income of $4.5M vs. $2.6M in the last quarter, and a net loss of $34M in the same quarter a year ago.
- EBITDA of $15.2M vs. $13.7M in Q1 of 2014, and ($160.7M) in Q2 of 2013.
- Polysilicon shipped during the quarter totaled 1,436 MT, increasing from 1,391 MT in Q1 of 2014. Wafer shipment during the quarter was 17.6M pieces, increasing from 16.8M pieces in Q1 of 2014.
- The Company expects to ship 1,450 MT to 1,500 MT of polysilicon and approximately 16.8M to 17M pieces of wafer in Q3.
- Q2 results
Aug. 15, 2014, 6:05 AM
- DAQO New Energy (NYSE:DQ): Q2 EPADS of $0.57
- Revenue of $43.7M (+57.2% Y/Y)
May 13, 2014, 11:40 AM
- Along with its Q1 numbers, Daqo (DQ -7.4%) has announced it's selling 2M shares to help pay for expansion/tech upgrades. At current levels, the offering would raise $70M, and increase Daqo's share count by 28%. Underwriters have a 300K-share overallotment option.
- Polysilicon shipments rose to 1,391MT in Q1 from 1,271MT in Q4 and 706MT a year ago. Shipments are expected to grow to 1,375MT-1,400MT in Q2.
- Annual production capacity is currently at 6,150MT. Daqo is aiming to eventually grow capacity to 25,000MT. The company asserts its polysilicon cash cost (now $11.8/kg) and production cost ($14.5/kg) are among the lowest in the industry.
- Gross margin was 30.2%, a marked improvement from Q4's 18.5% and the year-ago period's -22.3%. Excluding a $1.8M reversal of doubtful accounts, SG&A spend fell to $3.3M from $4M in Q4 and $4.1M a year ago. R&D spend was at $0.9M vs. $1.1M and $0.4M.
- Q1 results, PR
Daqo New Energy Corp. is engaged in the manufacture and sale of polysilicon and silicon wafer. Its products include polysilicon, silicon wafers, and solar modules. The company was founded on November 22, 2007 and is headquartered in Wanzhou, China.
Sector: Industrial Goods
Industry: Industrial Equipment & Components
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