TOYO Co., Ltd

Thank you for standing by. My name is Kate and I'll be your conference operator today. At this time, I would like to welcome everyone to the TOYOCO LTD first quarter 2026 earnings conference call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. If you would like to withdraw your question, Press star 1 again. Thank you. I would now like to turn the call over to Crocker Coulson, Investor Relations for Toyo. Please go ahead.

Thanks, Kate. Hello, everyone, and thanks for joining us to review Toyo's first quarter of 2026 results. This morning, Toyo posted both the earnings release and a related investor presentation to our website, which you can find at investors.toyo-solar.com. With me on the call today are Onizuka San, TOYO's Chairman and Chief Executive Officer, Raymond Chung, TOYO's Chief Financial Officer, and Ron Resch, TOYO's Chief Strategy Officer. We also have Simon Shi, Senior Board Advisor, who will be available during the Q&A portion of this call. After the prepared remarks are concluded, we're going to open up this call for your questions. But before we begin, the financial results discussed on this call are for the first quarter of 2026 and 2025 are unaudited. And some statements in this teleconference are forward looking within the meaning of federal securities laws. Although we believe these statements are reasonable, we can give no assurance that they will prove to be accurate because they are perspective in nature. During this call, we will also discuss certain non-GAAP financial measures, such as adjusted net income and adjusted EBITDA. We believe these measures provide meaningful supplemental information regarding our operational performance by excluding non-cash items and one-time charges that may not be indicative of our core business. Actual results could differ materially from those we discussed today, and we encourage you to review the most recent and report on Form 20F and other SEC filings for risk factors that could materially impact our results. With those formalities out of the way, it's now my great pleasure to turn the call over to Onizuka-san, TOYO's chairman and CEO. Onizuka-san, please go ahead.

Thank you, Kuroko-san. I'm very pleased to report that TOYO delivered a strong first quarter of the 2026 one that I believe marks a true inflection point in the company's trajectory. We achieved record revenue, record gross profit, and record net income for the company, all in a single quarter. This is a result of years of deliberate investment in our technology, manufacturing capabilities, and our people. And it is gratifying to see that work translate into the these kinds of financial results. Let me work you through the headline numbers at the high level. Revenue for Q1, 2026 was approximately 142.8 million US dollar, 177% increase year over year from 51.5 billion dollars in Q1, 2025. This growth was broad-based, driven by significant higher solar cell and module shipment volumes as our expanded manufacturing footprint came freely online. Growth margin expanded to 33.5% up from 9.3% in the prior year quarter. This reflects the structural improvement in our business model as we have scaled production and improved our coastal structure across the board. Net income for the quarter was approximately $328.4 million, compared to a net loss of $3.7 million in Q1 2025. Diluted earnings per share was $0.75, versus a loss of 0.10 per share in Q1 2025. This swing to profitability is something we are very proud of, and we believe it reflects a suitable change in the earning power of this business. Demand for our high efficiency solar solution across the United States remains strong, driven by the accelerating energy transition. We believe that the market is coming to recognize that solar paired with battery energy storage is the fastest and most cost-effective way to add a large amount of new power to the grid to meet AI-driven demand while keeping costs manageable for customers. Based on our Q1 performance and our visibility into the remain of the year, We are reaffirming our full year 2026 guidance of solar cell segment of between 5.5 and 5.8 gigawatts, solar module segment of between 1.0 and 1.3 gigawatts, and the full year adjusted net income in the range of 19 million US dollar to 100 million US dollar. We are confident in these targets. I will now turn the call over to our CSO, Ron Lesh, to review our strategy for 2026.