China's Daqo New Energy Q3 revenue jumps on higher polysilicon sales volume
DQ•Daqo New Energy's third-quarter revenue more than tripled sequentially to $194.2 million on higher polysilicon sales volume. Its net loss was $52.9 million, and it expects 2026 polysilicon production of 175,000 to 185,000 metric tons.
1. Quarterly results
Daqo New Energy said third-quarter revenue more than tripled from the prior quarter to $194.2 million, primarily because polysilicon sales volume increased after normal sales activities resumed in June. Net loss was $52.9 million, narrower than in the prior quarter but wider than a year earlier. Lower production costs, improved manufacturing efficiency and reduced inventory impairment provisions helped improve gross margin.
2. Production outlook
The company expects fourth-quarter 2026 polysilicon production of 35,000 to 45,000 metric tons and full-year production of 175,000 to 185,000 metric tons. It said elevated industry inventories and weak near-term demand continue to challenge the market.
