TOYO Co., Ltd reported first-half 2026 results showing total revenue of $261.0 million, an increase of 87.6% year over year, driven by the delivery of 2.61 gigawatts of solar cells and 191.5 megawatts of modules. The company posted a GAAP net income of $45.8 million compared to $2.5 million in the prior-year period, with diluted earnings per share rising to $1.20 from $0.08. Gross margin expanded significantly to 32.5% as the firm raised approximately $52.6 million in net proceeds through equity offerings and debt financing during the first half of the year. These capital enhancements support ongoing construction at a new 1.5-gigawatt heterojunction cell facility in Humble, Texas, which is expected to begin pilot production by the first quarter of 2028. The filing also coincides with a ribbon-cutting ceremony for the company's existing module manufacturing plant in the Houston area. TOYO Co., Ltd operates as an integrated solar manufacturer specializing in photovoltaic cells and modules.
