Daqo New Energy ADR (NYSE: DQ) reported a second-quarter loss of $1.20 per American Depositary Receipt, exceeding the expected loss of $0.53 by $0.67, according to market data. Revenue for the period totaled $62.7 million, falling short of the $114.7 million consensus estimate by 45%.
The Shanghai-based solar materials manufacturer cited softer demand in key markets as the primary driver behind the revenue shortfall. The company’s ADR closed at $14.05 in New York trading, reflecting a 20.98% decline over the past three months and a 37.47% drop over the last 12 months.
InvestingPro’s Financial Health score rated the company’s performance as "fair," with no positive earnings revisions recorded in the last 90 days and a single negative revision. The earnings miss follows a period of volatility for the solar sector, where supply chain adjustments and demand fluctuations have weighed on profitability for several producers.
