SoFi shares rise as record revenue, member growth drive strong Q3 results
SHANGHAI - On Monday, Daqo New Energy Corp. (NYSE:DQ) reported third-quarter results that significantly exceeded analyst expectations, signaling a potential recovery in the solar materials market.
The high-purity polysilicon manufacturer’s shares rose 7.57% in pre-market trading after the release.
The company posted adjusted earnings of $0.05 per ADS for the third quarter of 2025, substantially beating analyst expectations of a $0.49 per share loss. Revenue reached $244.6 million, surpassing the consensus estimate of $192.95 million and increasing from $75.2 million in the previous quarter, though still up from $198.5 million in the same quarter last year.
Daqo’s improved performance came as polysilicon prices rebounded significantly during the quarter. The company’s average selling price rose to $5.80/kg from $4.19/kg in the second quarter. Meanwhile, production costs fell to a record low cash cost of $4.54/kg, down 11% from the previous quarter.
"With the recovery of market prices across the solar PV value chain in the third quarter of 2025, we believe the industry is gradually recovering from its cyclical downturn," said Xiang Xu, CEO of Daqo New Energy. "In particular, the polysilicon sector reached an inflection point during the quarter, with prices rebounding significantly."
The company reported polysilicon production volume of 30,650 MT in Q3, slightly above its guidance range, while sales volume jumped to 42,406 MT from 18,126 MT in Q2 as the company reduced inventory levels.
For Q4 2025, Daqo expects to produce approximately 39,500 MT to 42,500 MT of polysilicon, bringing its full-year 2025 production estimate to between 121,000 MT and 124,000 MT.
The results mark a significant turnaround from the second quarter when the company reported a gross loss of $81.4 million. For Q3, Daqo posted a gross profit of $9.7 million and positive EBITDA of $45.8 million.
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