Overview

* Daqo New Energy ( DQ ) Q3 revenue of $244.6 mln beats analyst expectations

* Adjusted net income for Q3 beats consensus, reflecting improved market conditions

* Company reports positive EBITDA of $45.8 mln, reversing previous quarter's loss

Outlook

* Company expects Q4 polysilicon production of 39,500 MT to 42,500 MT

* Daqo forecasts full-year polysilicon production of 121,000 MT to 124,000 MT

* Company notes improved market conditions and rebound in polysilicon prices

Result Drivers

* SALES VOLUME - Co capitalized on favorable pricing to sell a significant portion of inventory, increasing sales volume to 42,406 MT

* COST REDUCTION - Production cost declined significantly, with total production cost down 12% to $6.38/kg

* MARKET RECOVERY - Recovery of market prices across the solar PV value chain contributed to improved results

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Beat $244.60 $171.60

Revenue mln mln (2

Analysts

)

Q3 Beat $3.70 -$34 mln

Adjusted mln (1

Net Analyst)

Income

Q3 Net -$14.90

Income mln

Q3 Beat $45.80 $30 mln

Adjusted mln (1

EBITDA Analyst)

Q3 18.70%

Adjusted

EBITDA

Margin

Q3 Gross $9.70

Profit mln

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the renewable energy equipment & services peer group is "buy"

* Wall Street's median 12-month price target for Daqo New Energy Corp ( DQ ) is $30.00, about 13.2% above its October 24 closing price of $26.03

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)