TOYO (NASDAQ:TOYO) reported a sharply improved first quarter for fiscal 2026, with management describing the period as an “inflection point” as higher solar cell and module shipments drove record revenue, gross profit and net income.
Chairman and Chief Executive Officer Takahiko Onozuka said revenue for the quarter was approximately $142.8 million, up 177% from $51.5 million in the first quarter of 2025. Gross margin rose to 33.5% from 9.3% a year earlier, while net income was approximately $28.4 million, compared with a net loss of $3.7 million in the prior-year period. Diluted earnings per share were $0.75, versus a loss of $0.10 per share in the first quarter of 2025.
