Toyo Q1 FY26 swings to profit of $28.4 million; revenue more than doubles to $142.8 million

• Toyo posted Q1 2026 revenue of US$ 142.8 million, up 177% year over year, as net income swung to US$ 28.4 million.
• Gross margin widened to 33.5% from 9.3% a year earlier, while earnings per diluted share rose to US$ 0.75.
• Adjusted EBITDA climbed to US$ 48.3 million from US$ 2.8 million, as operating expenses increased to US$ 11.5 million.
• Cash and restricted cash totaled US$ 72.2 million at March 31, up from US$ 58.9 million at year-end.
• Full-year guidance was reaffirmed for solar cell shipments of 5.5 GW to 5.8 GW, solar module shipments of 1.0 GW to 1.3 GW, adjusted net income of US$ 90 million to US$ 100 million; Takahiko Onozuka said plans remain in place for a domestic cell plant and a U.S. R&D center.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Toyo Co. Ltd. published the original content used to generate this news brief via PR Newswire (Ref. ID: 202605180715PR_NEWS_USPR_____CN61648) on May 18, 2026, and is solely responsible for the information contained therein.