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- Daqo New Energy Corp DQ reported second-quarter FY21 revenue growth of 230.6% year-on-year to $441.4 million beating the analyst consensus of $407 million.
- ASML Holding's ASML Q2 revenue of $4.84 billion missed the analyst consensus of $4.92 billion.
- Applied Materials Inc AMAT is scheduled to report its Q3 results on Aug. 19.
- Margins: The gross margin expanded 5,170 bps to 68.7% due to higher ASPs.
- The EBITDA margin expanded 5,060 bps to 70.6%.
- Adjusted earnings per ADS of $3.06 beat the analyst consensus of $2.54.
- Daqo held $269.7 million in cash and equivalents.
- The company generated $442.3 million in operating cash flow during the six months ended Jun. 30.
- The global carbon neutrality goals continue to drive the polysilicon sector. The substantial increase in downstream demand-driven polysilicon crisis led to inflated ASPs.
- Daqo expects the strong price momentum to continue into the second half of 2021 despite the rising solar module prices in the first half.
- Outlook: Daqo raised the FY21 polysilicon production guidance from the previous level of 81,000 MT - 83,000 MT to 83,000 MT - 85,000 MT.
- Price Action: DQ shares traded higher by 6.57% at $51.92 in the premarket session on the last check Wednesday.
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