Corning Inc

GLW

Equity

ISIN null / Valor 921667

New York Stock Exchange, Inc (2025-10-22)

USD 84.14-2.22%

Corning Inc
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About company

Corning Inc. is a diversified technology company known for its expertise in materials science and process engineering, particularly in the production of glass and ceramics. The company plays a pivotal role in several industries, including consumer electronics, telecommunications, and life sciences. Corning's innovative fusion manufacturing process, a technique the company invented, is central to its leadership in the LCD glass market. This process produces high-quality glass substrates that are crucial for the manufacture of large, high-performance LCD panels, featuring attributes such as pristine surface quality, excellent thermal dimensional stability, and uniformity. Corning's products, including the renowned Corning® Gorilla® Glass, are marketed globally and cater to a wide range of sectors from pharmaceutical and biotechnology companies to academic institutions and government entities. Gorilla Glass, known for its durability and resistance to damage, is specifically designed for use in mobile phones, tablets, and notebook PCs. In addition to its glass products, Corning also manufactures semiconductor optics, including high-performance optical materials and assemblies for the semiconductor industry. The company operates manufacturing facilities across the United States and in several other countries, including China, France, Mexico, and Poland, underscoring its global footprint in the technology sector.

Summarized from source with an LLMView SourceSector: Telecommunications

Sales Performance

In the fourth quarter, GAAP sales were $3.0 billion, a 6% sequential decrease, while core sales were $3.3 billion, down 5% sequentially. Year over year, GAAP sales declined by 12% and core sales by 10%.

Gross Margin Improvement

Corning Inc achieved a notable increase in gross margins, with GAAP gross margin improving by 350 basis points and core gross margin by 330 basis points compared to the same quarter last year, despite a 12% and 10% drop in GAAP and core sales respectively.

Enhanced Cash Flow

The company saw significant improvements in cash generation, reporting GAAP operating cash flow of $713 million and adjusted free cash flow of $487 million for the fourth quarter.

First-Quarter 2024 Outlook

Management projects first-quarter 2024 core sales of approximately $3.1 billion and core EPS in the range of $0.32 to $0.38, anticipating this quarter to be the company's lowest of the year.

Future Growth Opportunities

Corning Inc anticipates the potential to add over $3 billion in annualized sales as markets normalize, expecting to deliver strong incremental profit and cash flow, presenting a significant opportunity for shareholders.

Summarized from source with an LLMView Source

Key figures

77.8%1Y

161%3Y

137%5Y

Performance

32.7%1Y

28.3%3Y

28.6%5Y

Volatility