Daqo New Energy Announces Unaudited Third Quarter 2026 Financial Results

What happened

Daqo New Energy reported unaudited third quarter 2026 results: revenue was $194.2 million, polysilicon sales were 46,910 MT, and the average selling price was $4.12/kg. Gross loss was $60.6 million and net loss was $52.9 million.

Confirmed

Global impact / market context

Daqo sold far more polysilicon yet still lost money because the average selling price of $4.12/kg was below its average total production cost of $5.37/kg. That gap means each kilogram sold added to losses, pressuring cash and future capital spending plans.

Analyst inference

The results show a solar material maker cutting unit costs and raising volumes while prices stay weak. Investors may weigh whether Daqo's $2.06 billion of cash and short-term investments, up from $1.92 billion, can cushion continued losses until prices recover.

Analyst inference

What to watch

1. Polysilicon average total production cost fell to $5.37/kg in Q3 2026 from $5.95/kg in Q2 2026, while average cash cost fell to $4.23/kg from $4.57/kg. Confirmed
2. Management could outline plans to slow production or idle capacity if the average selling price stays below total production cost, which means each sale is currently unprofitable. Proposed
3. Watch whether Daqo's cash and short-term investments keep rising or start falling, since sustained gross losses could force the company to draw down that $2.06 billion buffer. Analyst inference

Evidence

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