TOYO (NASDAQ:TOYO) Issues Earnings Results

TOYO (NASDAQ:TOYO) posted 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 business had revenue of $118.18 million during the quarter, compared to analyst estimates 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 $4.34 on Thursday. The company has a quick ratio of 0.31, a current ratio of 0.68 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $163.92 million, a P/E ratio of 5.79 and a beta of 1.45. The stock’s 50 day moving average is $6.99 and its 200 day moving average is $9.36. TOYO has a twelve month low of $4.26 and a twelve month high of $17.43.

Analyst Ratings Changes

A number of research firms have recently weighed in on TOYO. Zacks Research raised shares of TOYO from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 28th. Weiss Ratings lowered shares of TOYO from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, July 30th. Two equities 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, the company has a consensus rating of “Moderate Buy” and an average target price of $16.50.

Institutional Inflows and Outflows

An institutional investor recently raised its position in TOYO stock. Renaissance Technologies LLC raised its stake in TOYO Co., Ltd. (NASDAQ:TOYO) by 17.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,250 shares of the company’s stock after acquiring an additional 4,250 shares during the period. Renaissance Technologies LLC owned approximately 0.07% of TOYO worth $166,000 as of its most recent SEC filing. 84.61% of the stock is owned by institutional investors.

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.