TOYO (NASDAQ:TOYO) Posts Earnings Results, Misses Estimates By $0.07 EPS

TOYO (NASDAQ:TOYO) announced its quarterly earnings data on Wednesday. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.07), Zacks reports. The firm had revenue of $118.18 million for the quarter, compared to analysts’ expectations of $192.57 million.

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

• Strong first-half results: Revenue rose 87.6% year over year to approximately $261.0 million, while gross margin nearly doubled to 32.5% and net income increased to $45.8 million. Q2 revenue grew 35% and net income reached $17.4 million.
• Toyo said the new Section 232 framework could support higher U.S. solar pricing and improve its economics, particularly because approximately 70% of its Ethiopian polysilicon currently comes from a U.S. producer and the company expects to reach 100% by the fourth quarter.
• The company is proceeding with its approximately $357 million HJT cell facility in Texas, targeting pilot production in late 2027 or early 2028, while its Houston module facility remains on track to reach roughly 2 GW of annual capacity in September 2026.
• CBP detentions and ongoing Commerce anti-circumvention reviews delayed some Ethiopian shipments, creating uncertainty for second-half results. Management did not reaffirm its previously issued 2026 guidance and said the outlook depends on the timing of regulatory resolution and Section 232 negotiations.
• The company’s operating expenses increased substantially as it scaled its Houston operations, with first-half general and administrative expenses rising to $22.3 million from $13.4 million in total operating expenses the prior year; management also acknowledged that Q2 cell sales declined sequentially from Q1.

TOYO Stock Performance

TOYO stock opened at $4.51 on Friday. TOYO has a one year low of $4.26 and a one year high of $17.43. The firm has a market cap of $170.34 million, a price-to-earnings ratio of 6.01 and a beta of 1.45. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.31 and a current ratio of 0.68. The firm has a 50-day simple moving average of $6.81 and a two-hundred day simple moving average of $9.34.

Institutional Investors Weigh In On TOYO

A hedge fund recently raised its position in TOYO stock. Renaissance Technologies LLC grew its position in TOYO Co., Ltd. (NASDAQ:TOYO) by 17.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,250 shares of the company’s stock after purchasing an additional 4,250 shares during the quarter. Renaissance Technologies LLC owned about 0.07% of TOYO worth $166,000 at the end of the most recent reporting period. Institutional investors own 84.61% of the company’s stock.

Analyst Ratings Changes

TOYO has been the subject of several analyst reports. Weiss Ratings downgraded shares of TOYO from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, July 30th. Zacks Research raised shares of TOYO from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 28th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $16.50.

TOYO Company Profile

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.