TOYO News & Events

Reports Q1 revenue $142.8M vs. $51.5M last year. "We delivered a powerful start to 2026, achieving strong Q1 revenue and net income growth that reflects the successful scale-up of our advanced manufacturing capabilities," said CEO Takahiko Onozuka. "Our ability to deliver 177% year-over-year sales growth while delivering record net income of $28.4M demonstrates the strength of demand for our solar solutions and our team's disciplined execution."

Toyo CEO Takahiko Onozuka stated, "Following our strong first-quarter performance, we are reaffirming our full-year 2026 outlook, which reflects our confidence in the sustained U.S. demand for high-efficiency solar solutions. We anticipate solar cell shipments to reach between 5.5 GW and 5.8 GW in 2026, bolstered by our scaled manufacturing capabilities. Furthermore, as we deepen our downstream presence, we expect solar module shipments to reach 1.0 GW to 1.3 GW this year. We expect, with our focus on supply chain resilience, to achieve a full-year adjusted net income in the range of $90M-$100M. We are continuing to move forward with our plans for a domestic cell plant as part of our commitment to reshore solar production and advance toward a more integrated supply chain in the United States to meet the needs of our customers for high performance solar solutions aligned with the evolving policy environment. We are also moving forward to establish a U.S. R&D center to bring next-generation technologies that will bolster energy security and meet the surging demand for on- and off-grid electricity to power the AI economy".