Welcome to our dedicated page for Corning news (Ticker: GLW), a resource for investors and traders seeking the latest updates and insights on Corning stock.
Corning Incorporated develops glass, ceramic, and optical-physics technologies for optical communications, mobile consumer electronics, display, automotive, solar, semiconductor, and life sciences markets. News about GLW commonly covers earnings releases, dividend declarations, investor-event updates, and the company’s Springboard plan and Market-Access Platforms.
Recurring product and customer developments include optical fiber, cable, connectors, co-packaged optics, and high-density connectivity for AI data centers; Gorilla Glass and glass-ceramic cover materials for mobile devices; and manufacturing or technology partnerships tied to advanced materials and optical infrastructure.
Corning (GLW) forecasts robust financial performance in Q4 2020, with expected sales growth of 5% to 8% sequentially. The operating margin is anticipated to increase at roughly double the sales growth rate, highlighting the effectiveness of their strategic investments. Despite challenging market conditions, Corning's diverse portfolio and strong industry relationships are driving growth across multiple sectors. These insights were shared by Chief Strategy Officer Dr. Jeffrey Evenson at the Credit Suisse Annual Technology Conference.
Corning Incorporated (NYSE: GLW) announced that eight of its manufacturing facilities have achieved energy efficiency goals set by the EPA. These sites have reduced energy intensity by an average of 13.2%, surpassing the ENERGY STAR Challenge criteria. With 37 facilities now meeting these targets, Corning has improved energy productivity by 35% since 2006, resulting in over $500 million in energy savings and a decrease of 2.3 million metric tons of greenhouse gas emissions.
Corning announced a significant advancement in glass-ceramic technology with its Corning Guardiant, which has demonstrated the ability to kill over 99.9% of SARS-CoV-2 under EPA-approved tests. This antimicrobial efficacy lasted even after simulating six years of scrubbing. Corning is collaborating with PPG to seek EPA registration for a paint product containing Corning Guardiant, named COPPER ARMOR, to provide added protection against COVID-19. Additionally, research shows effectiveness against other harmful bacteria and viruses.
Corning (GLW) reported robust financial results for Q3 2020, with GAAP sales of $3.0 billion, a 16% sequential increase and 1% year-over-year growth. Core EPS surged 72% to $0.43, supported by a significant operating margin expansion to 18.3%. Free cash flow exceeded $518 million, bolstering cash reserves to $2.5 billion. Strong growth was noted in Environmental Technologies (68%) and Specialty Materials (37%). The consolidation of Hemlock Semiconductor contributed $31 million in sales. Despite ongoing macroeconomic challenges, Corning remains confident in its market leadership and operational strength.
Corning announced its new Evolv™ Hardened Connectivity Solutions featuring Pushlok™ Technology to address the growing demand for bandwidth in tight spaces. This innovation includes miniaturized, 5G-ready terminals and connectors designed to enhance fiber deployment efficiency. The compact solutions can save operators up to $500 per terminal location and simplify installations. Corning aims to reduce barriers for network operators, facilitating faster and more economical deployments in response to increasing connectivity needs driven by 5G technology.
Corning Incorporated (GLW) declared a quarterly dividend of $0.22 per share, payable on December 18, 2020, to shareholders of record on November 13, 2020. The announcement emphasized the company's commitment to returning value to its shareholders amidst ongoing market uncertainties, including challenges posed by COVID-19 and other external factors. The press release highlighted potential risks that could affect financial performance, including economic conditions, competitive pressures, and supply chain disruptions. Corning continues to leverage its innovation in materials science across various industries.
Corning (NYSE: GLW) will present at the Citi 2020 Global Technology Conference on September 9, 2020. CFO Tony Tripeny and Chief Strategy Officer Jeff Evenson will discuss the company’s expected third-quarter performance, predicting sales growth in the low-teens percentage range sequentially, surpassing analyst expectations. Profitability is set to grow faster than sales due to effective cost control measures, with positive free cash flow anticipated for the year. Tripeny highlighted sustained positive momentum and a robust outlook for Corning's growth drivers.
Corning Incorporated (NYSE: GLW) reported Q2 results with GAAP sales at $2.6 billion, a 7% increase from Q1. Core EPS rose 25% sequentially to $0.25, while GAAP EPS was $(0.13). Net income improved to $218 million, up 23%. Free cash flow reached $285 million, indicating strong financial management. Highlights include a long-term supply agreement for Valor Glass vials and the launch of Gorilla Glass Victus. Despite challenges in Environmental Technologies, overall financial strength remains, with expectations for sales growth in Q3.
Corning Incorporated (NYSE: GLW) has launched Gorilla Glass Victus, a revolutionary glass technology enhancing drop and scratch performance for mobile devices. This innovation builds on over a decade of expertise, offering up to 2 meters of drop resistance and 4x better scratch resistance compared to competitors' products. Consumer research underscores that durability significantly influences purchasing decisions in key markets like China, India, and the United States. Samsung is set to be the first to adopt this new glass technology.
Corning, NY, July 15, 2020 - Corning declared a quarterly dividend of $0.22 per share on its common stock, payable on Sept. 30, 2020, to shareholders on record as of Aug. 28, 2020. The company highlights ongoing risks related to the COVID-19 pandemic, which may impact demand and operations, alongside various other uncertainties including tariffs, currency fluctuations, and competitive pressures. Corning emphasizes its commitment to innovation and strategic investment to navigate these challenges while maintaining shareholder returns.