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TOYO Provides Preliminary, Unaudited and Unreviewed FY2025 Financial Results
TOKYO, March 18, 2026 /PRNewswire/ -- TOYO Co., Ltd (Nasdaq: TOYO) (OTC: TOYWF), ("TOYO" or the "Company"), a solar solution company, today announced
About this update from Toyo Co., Ltd
[{"type":"text","content":"TOKYO, March 18, 2026 /PRNewswire/ -- TOYO Co., Ltd (Nasdaq: TOYO) (OTC: TOYWF), (\"TOYO\" or the \"Company\"), a solar solution company, today announced preliminary, unaudited and unreviewed FY 2025 results for the fiscal year ended December 31, 2025. These figures demonstrate solid execution against the Company's raised full-year outlook from September 2025, fueled by capacity expansions and sustained demand in the global renewable energy market.\nFY2025 Preliminary Performance HighlightsRevenue: Delivering stronger than expected performance, the Company achieved approximately $427 million, beating the previously updated guidance range of $375–$400 million issued in September 2025 and reflecting substantial year-over-year growth. This was driven by increased production volumes and strong orders from utility-scale and commercial customers worldwide.Solar Cell Shipments: Approximately 4.5 GW, surpassing previously announced full-year target of 4.2–4.4 GW. Key contributors included the successful ramp-up and full utilization of the Company's 4 GW solar cell facility in Ethiopia, which began commercial production in 2025.Solar module shipments: Approximately 249MW, since commencing commercial production in October 2025.EBITDA: Approximately $96 million, supported by operational efficiencies, improved margins from scaled production, and cost optimizations across the supply chain.Net Income: Approximately $38 million. Net income includes a one-time share-based compensation of approximately $14 million. These preliminary results underscore TOYO's progress in building a resilient, vertically integrated solar value chain, with strategic facilities in Ethiopia and the United States enhancing supply chain security and competitiveness amid evolving trade dynamics.\"2025 was a transformative year for TOYO, as we delivered on our elevated guidance and made meaningful strides in global manufacturing scale,\" said Takahiko Onozuka, Chairman and CEO of TOYO. \"The rapid ramp of our Ethiopia cell facility has strengthened our position to meet rising demand for reliable, cost-effective solar solutions. We are focused on further integration, innovation, and sustainable expansion to create long-term value for shareholders and stakeholders in the clean energy transition.\"Earnings Call ScheduleTOYO will host the FY2025 financial results earnings co...