Daqo New Energy's stock experienced a pre-market plunge of 9.48% on Wednesday, reflecting a sharp sell-off ahead of the trading session.
The significant drop follows the company's release of its unaudited first quarter 2026 financial results, which severely missed analyst expectations. Daqo reported a quarterly adjusted loss per share of $(1.31), far worse than the consensus estimate of $(0.35) and representing a 63.75% decrease from the same period last year.
Furthermore, quarterly sales came in at $26.722 million, missing the estimate of $186.284 million by a wide margin and marking a 78.44% year-over-year decline. The company also reported a net loss of $88.4 million and an adjusted EBITDA of -$83.1 million, with a negative adjusted EBITDA margin of -311.1%, indicating substantial operational challenges.
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