TOYO reported first-quarter 2026 revenue of $142.8 million, up 177% from a year earlier, and net income of $28.4 million. The company reaffirmed full-year guidance for adjusted net income of $90 million to $100 million and said it is still advancing U.S. expansion plans.

TOYO reported a sharp year-over-year turnaround in the first quarter of 2026, with revenue rising to $142.8 million from $51.5 million a year earlier and net income swinging to $28.4 million from a $3.7 million loss.

Diluted earnings per share came in at $0.75, compared with a loss of $0.10 per diluted share in the first quarter of 2025.

The company also reaffirmed its full-year 2026 outlook. It said it still expects adjusted net income of $90 million to $100 million, along with full-year solar cell shipments of 5.5 GW to 5.8 GW and solar module shipments of 1.0 GW to 1.3 GW.

TOYO said it is continuing plans for a domestic cell plant and a U.S. research and development center, keeping its expansion strategy in place as it works through 2026.

The results were released on May 18, 2026, in an unaudited and unreviewed earnings statement.

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