TOYO (NASDAQ:TOYO) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

TOYO (NASDAQ:TOYO) posted its earnings results on Monday. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.03, Zacks reports. The business had revenue of $142.77 million for the quarter, compared to analyst estimates 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 Performance

NASDAQ TOYO opened at $14.80 on Tuesday. The company has a 50-day moving average price of $10.35 and a two-hundred day moving average price of $8.20. TOYO has a 52 week low of $3.24 and a 52 week high of $14.80. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.31 and a current ratio of 0.58.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Weiss Ratings upgraded shares of TOYO from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 4th. Wall Street Zen raised shares of TOYO from a “hold” rating to a “strong-buy” rating in a research note on Saturday, April 4th. Finally, Roth Mkm assumed coverage on shares of TOYO in a research note on Thursday, April 2nd. They set a “buy” rating and a $15.00 price target on the stock. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.50.

Institutional Trading of TOYO

A hedge fund recently raised its stake in TOYO stock. Renaissance Technologies LLC raised its stake in TOYO Co., Ltd. (NASDAQ:TOYO) by 17.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,250 shares of the company’s stock after purchasing 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. 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.