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Daqo New Energy Corp. Q1 adjusted earnings Beat Estimates

Daqo New Energy Corp. (DQ) released a profit for its first quarter that advanced from the same period last year.

The company's earnings came in at $33.23 million, or $2.27 per share. This compares with $6.64 million, or $0.48 per share, in last year's first quarter.

Excluding items, Daqo New Energy Corp. reported adjusted earnings of $37.69 million or $2.57 per share for the period.

Analysts had expected the company to earn $1.61 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 107.9% to $168.83 million from $81.20 million last year.

Daqo New Energy Corp. earnings at a glance:

-Earnings (Q1): $37.69 Mln. vs. $11.12 Mln. last year.
-EPS (Q1): $2.57 vs. $0.81 last year.
-Analysts Estimate: $1.61
-Revenue (Q1): $168.83 Mln vs. $81.20 Mln last year.

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