TOYO (NASDAQ:TOYO) Announces Quarterly Earnings Results

TOYO (NASDAQ:TOYO) released its quarterly earnings results on Monday. The company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.03, Zacks reports. The company had revenue of $142.77 million during the quarter, compared to analysts’ expectations of $202.90 million.

Here are the key takeaways from TOYO’s conference call:

• TOYO reported a record first quarter with revenue of $142.8 million, up 177% year over year, alongside record gross profit and net income.
• Profitability improved sharply as gross margin expanded to 33.5% from 9.3% a year ago, and net income swung to $28.4 million from a loss in Q1 2025.
• Management reaffirmed full-year 2026 guidance for solar cell shipments of 5.5 GW to 5.8 GW, module shipments of 1.0 GW to 1.3 GW, and adjusted net income of $19 million to $100 million.
• The company said its U.S. module expansion in Houston remains on track to double capacity from 1 GW to 2 GW by Q3 2026, with the buildout progressing in phases.
• TOYO is in the final planning stages for a 1.5 GW U.S. solar cell facility at its Houston site, but most related CapEx is expected in 2027 and the company is not yet counting potential Section 45X tax credits in guidance.

TOYO Stock Down 6.6%

Shares of TOYO stock opened at $13.82 on Wednesday. The firm’s fifty day simple moving average is $10.48 and its 200-day simple moving average is $8.24. TOYO has a 12 month low of $3.24 and a 12 month high of $14.80. The company has a quick ratio of 0.31, a current ratio of 0.58 and a debt-to-equity ratio of 0.31.

Wall Street Analysts Forecast Growth

TOYO has been the subject of several research reports. Roth Mkm began coverage on shares of TOYO in a report on Thursday, April 2nd. They issued a “buy” rating and a $15.00 target price for the company. Weiss Ratings upgraded shares of TOYO from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 4th. Finally, Wall Street Zen raised shares of TOYO from a “hold” rating to a “strong-buy” rating in a research report on Saturday, April 4th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, TOYO currently has an average rating of “Moderate Buy” and an average price target of $16.50.

Institutional Inflows and Outflows

An institutional investor recently raised its position in TOYO stock. Renaissance Technologies LLC grew its holdings in TOYO Co., Ltd. (NASDAQ:TOYO) by 17.7% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 28,250 shares of the company’s stock after buying an additional 4,250 shares during the period. Renaissance Technologies LLC owned 0.07% of TOYO worth $166,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

About TOYO

TOYO Co Ltd. engages in the design, manufacture, and sale of solar cells and modules. It is involved in integrating the upstream production of wafer and silicon, midstream production of solar cell, downstream production of photovoltaic (PV) modules, and potentially other stages of the solar power supply chain. The company was founded on November 8, 2022 and is headquartered in Tokyo, Japan.