Quarterly ResultMay 18, 2026, 05:32 PM
TOYO Q1 Revenue $142.8M, Net Income $28.4M; EPS $0.75
AI Summary
TOYO Co., Ltd reported a significant financial turnaround for the three months ended March 31, 2026, with revenues soaring to $142.8 million and net income reaching $28.4 million, compared to a loss in the prior year. The company also saw a substantial increase in earnings per share to $0.75. Operationally, TOYO expanded its production capacity to 4GW in Ethiopia and commenced solar PV module manufacturing and sales in the United States, alongside initiating an At-The-Market (ATM) program to raise up to $30 million.
Key Highlights
- Q1 2026 Revenue increased 177% to $142,773,458 from $51,544,511 YoY.
- Q1 2026 Net Income attributable to shareholders was $28,411,204, a significant turnaround from a $3,253,222 loss YoY.
- Basic EPS for Q1 2026 was $0.75, up from a loss of $0.07 YoY.
- Net cash provided by operating activities surged to $33,439,100, up 798% YoY.
- Total Assets grew to $478,277,526 as of March 31, 2026, from $441,433,821 at Dec 31, 2025.
- Total Shareholders’ Equity increased to $139,791,639 as of March 31, 2026, from $111,255,384 at Dec 31, 2025.
- Company initiated an ATM program to sell up to $30,000,000 in ordinary shares, raising $1.1 million to date.
- Expanded Ethiopia cell plant capacity to 4GW and commenced US solar PV module production.
Price Impact
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