TOYO reports $118.2 million in second-quarter revenue

• TOYO reported a 35% year-over-year increase in second-quarter revenue to reach $118.2 million.
• The company generated a first-half net income of $45.8 million while delivering 2.6 GW of solar cells.
• Management stated the business is expanding its Houston-area manufacturing capacity and advancing a new cell line.

TOYO (NASDAQ:TOYO) reported $118.2 million in second-quarter revenue driven by increased deliveries of solar products.

This quarterly performance represents a 35% year-over-year increase, while first-half revenue rose 87.6% to $261 million.

The company generated second-quarter net income of $17.4 million with diluted earnings per share of $0.45.

During the first half of 2026, the manufacturer delivered 2.6 GW of solar cells and 191.5 MW of modules.

Management stated facility expansions will support production, and following the announcement, TOYO's share price was down at $5.81.

The business ended June with $123.4 million in cash after raising $52.6 million through recent equity offerings.

Management stated the company is expanding Houston-area module capacity toward 2 GW and advancing a 1.5 GW cell line.