Daqo New Energy Q2 2024 Adj. EPS $(1.50) Misses $(0.56) Estimate, Sales $219.900M Miss $337.128M Estimate
Portfolio Pulse from Benzinga Newsdesk
Daqo New Energy reported a significant miss in both earnings and sales for Q2 2024, with EPS at $(1.50) against an expected $(0.56) and sales at $219.9M versus an expected $337.128M. This represents a 65.46% decrease in sales compared to the same period last year.
August 26, 2024 | 10:33 am
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NEGATIVE IMPACT
Daqo New Energy's Q2 2024 earnings and sales significantly missed analyst expectations, with EPS at $(1.50) and sales at $219.9M. This is a substantial decline from the previous year's sales, indicating potential challenges for the company.
The significant miss in both EPS and sales compared to analyst estimates, along with a large year-over-year sales decline, suggests negative sentiment and potential downward pressure on DQ's stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100