Daqo New Energy Q3 2024 Adj. EPADS $(0.59) Misses $(0.31) Estimate, Sales $198.496M Beat $187.927M Estimate
Portfolio Pulse from Benzinga Newsdesk
Daqo New Energy reported a Q3 2024 adjusted loss of $(0.59) per share, missing the $(0.31) estimate, but sales of $198.496M beat the $187.927M estimate. This marks a significant decline from last year's earnings and sales.
October 30, 2024 | 10:05 am
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NEGATIVE IMPACT
Daqo New Energy's Q3 2024 earnings report shows a significant miss on EPS estimates with a loss of $(0.59) per share, compared to the expected $(0.31). However, sales exceeded expectations at $198.496M. Both earnings and sales have significantly decreased from the previous year.
The significant miss on EPS estimates and the large year-over-year decline in both earnings and sales are likely to negatively impact Daqo New Energy's stock price in the short term. Despite the sales beat, the overall financial performance is weak compared to last year.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100