TOYO Co., Ltd reported unaudited financial results for the six months ended June 30, 2026. Revenue increased to $261.0 million from $139.1 million in the prior year period, driven by new OEM services and module sales alongside solar cell shipments. Net income attributable to shareholders rose to $45.8 million from $3.5 million, with diluted earnings per share reaching $1.20 compared to $0.08 previously. The company completed a registered direct offering on June 25, 2026, issuing 4,545,456 ordinary shares for approximately $47.1 million in gross proceeds. Additionally, the firm raised $5.5 million through an at-the-market equity offering during the quarter. Cash and restricted cash grew to $123.4 million by period-end. TOYO Co., Ltd operates in the renewable energy sector, specializing in the design, manufacture, and sale of solar cells and photovoltaic modules.
