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DQ.US Q3 revenue down 59.1% YoY, expects highest polysilicon production of 210,000 tons this year

Market IntelWednesday, Oct 30, 2024 9:50 am ET

1min read

Daqo New Energy (DQ.US) announced its Q3 2024 earnings on Wednesday. The company reported Q3 revenue of $198.5 million, down 59.1% YoY; a net loss attributable to the Company of $60.7 million; and a loss of $0.92 per ADS.

Adjusted net loss attributable to the Company was $39.4 million, or $0.59 per ADS.

The decrease in revenue compared to the second quarter of 2024 was mainly due to the decrease in ASP and volume.

The Company produced 43,592 tons of polysilicon in Q3, down from 64,961 tons in the previous quarter; and sold 42,101 tons, down from 43,082 tons in the previous quarter.

The Company's total average production cost of polysilicon was $6.61/kg, down from $6.19/kg in the previous quarter; and the Company's average cash cost of polysilicon was $5.34/kg, down from $5.39/kg in the previous quarter. The ASP was $4.69/kg, down from $5.12/kg in the previous quarter.

For the future, the Company expects to produce approximately 31,000 to 34,000 tons of polysilicon in Q4 2024. The Company expects to produce approximately 200,000 to 210,000 tons of polysilicon in the full year of 2024, including the impact of the Company's annual facility maintenance.

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