Corning Stock Price, News & Analysis

Corning (GLW) reported strong Q4 2024 results with core sales of $3.9 billion, up 18% year over year, and core EPS of $0.57, up 46%. The company's Optical Communications segment saw impressive growth, with Enterprise business up 93% year over year, driven by Gen AI products adoption.

Q4 GAAP results included sales of $3.5 billion, gross margin of 34.2%, and operating margin of 11.2%. Full-year 2024 delivered GAAP sales of $13.1 billion and operating cash flow of $1.9 billion. The company successfully implemented price increases in Display Technologies and expects segment net income of $900-950 million in 2025.

For Q1 2025, Corning projects core sales growth of 10% year over year to $3.6 billion, with core EPS growing approximately 30% to $0.48-$0.52. The company plans to upgrade its 'Springboard' plan at its March investor event, which aims to add over $3 billion in annualized sales and achieve 20% operating margin by end-2026.

Corning (NYSE: GLW) and Samsung Electronics announced that the Galaxy S25 Ultra will feature Corning® Gorilla® Armor 2, the industry's first scratch-resistant, anti-reflective glass ceramic cover material for mobile devices. This new technology represents a significant advancement in display protection and clarity.

Key features of Gorilla Armor 2 include enhanced durability with survival drops of up to 2.2 meters on concrete-like surfaces, compared to competitive materials failing at one meter. The material demonstrates over four times more scratch resistance than competitive lithium-aluminosilicate cover glasses with anti-reflective coating. The technology also significantly reduces surface reflections in both indoor and outdoor settings, improving display contrast ratio.

Corning (GLW) reported strong Q3 2024 results with core sales of $3.73 billion, up 8% year-over-year, and core EPS of $0.54, up 20%. The company's Optical Communications segment led growth with a 36% increase in sales, including 55% growth in Enterprise business driven by AI-related products. Core operating margin expanded 160 basis points to 18.3%. For Q4 2024, Corning expects core sales of ~$3.75 billion and core EPS of $0.53-$0.57. The company is progressing on its 'Springboard' plan to add over $3 billion in annualized sales and achieve 20% operating margin by end of 2026.

AT&T and Corning have announced a multi-year purchase agreement valued at over $1 billion for next-generation fiber, cable, and connectivity solutions. As Corning's largest customer with preferential volume status, AT&T will utilize Corning's Evolv® portfolio to expand its fiber network. The agreement supports AT&T's goal of reaching 30M+ locations by 2025, building on their current coverage of 28.3M consumer and business locations. AT&T will implement Corning's latest Evolv® FlexNAP™ with Multifiber Pushlok® Technology, which complies with BEAD program requirements.

Corning Incorporated (NYSE: GLW) has announced a quarterly dividend of $0.28 per share. The dividend will be payable on December 13, 2024, to shareholders of record on November 15, 2024. This announcement demonstrates Corning's commitment to returning value to its shareholders through regular dividend payments.

Corning Incorporated (NYSE: GLW) has unveiled Corning® EXTREME ULE® Glass, a next-generation material designed to support chip manufacturers in meeting the growing demand for advanced and intelligent technologies. This new glass will help improve photomasks, which are critical for mass-producing today's most advanced microchips.

EXTREME ULE® Glass is designed to withstand high-intensity extreme ultraviolet (EUV) lithography, including high numerical aperture (High NA) EUV. Its thermal expansion qualities deliver consistency and performance across all photomasks, while its flatness and uniformity reduce photomask waviness. This allows for the application of advanced coatings and limits unwanted variability for manufacturers.

The new glass is an evolution of Corning's ULE® (Ultra-Low Expansion) glass portfolio, known for its near-zero expansion characteristics. Corning expects its innovative glass-forming process to reduce energy use and waste generation, contributing to the company's sustainability commitment.

Corning Incorporated (NYSE: GLW) provided updates on its 'Springboard' plan to add over $3 billion in annualized sales by 2026, with a target operating margin of 20%. Key highlights include:

1. Implementing price increases in Display Technologies, expecting segment net income of $900-950 million in 2025 with a 25% margin.

2. Optical Communications' Enterprise sales projected to grow over 40% year-over-year in Q3, driven by AI product adoption.

3. Showcasing new products for AI-enabled data centers, supporting Lumen's network build.

4. Q3 expectations: $3.7 billion in sales and EPS of $0.50-$0.54.

The company emphasizes its competitive advantage and industry leadership in optical fiber production, positioning itself to capture significant growth opportunities.

Axion BioSystems has extended its agreement with Corning Incorporated (NYSE: GLW) for exclusive worldwide distribution rights of the Corning® Cell Counter. This device, developed by Axion and distributed by Corning, was recently recognized in the SelectScience® top 10 list of products advancing life science research. The cell counter offers superior speed and reproducibility compared to manual counting, with the ability to distinguish between cells and debris, detect individual cells in clusters, and count 3D organoids.

The agreement aims to continue bringing essential, affordable lab tools to market and accelerate discovery. Axion BioSystems CEO Julien Bradley highlighted the device's benefits in simplifying workflows, saving time, and improving reliability in cell culture laboratories.

Lumen Technologies (NYSE: LUMN) has announced a significant agreement with Corning Incorporated (NYSE: GLW) for the supply of next-generation optical cable. This deal will more than double Lumen's U.S. intercity fiber miles, providing substantial capacity to major cloud data centers to meet the increasing demands of AI workloads and high-bandwidth applications. The agreement reserves 10% of Corning's global fiber capacity for each of the next two years.

This partnership aims to address the network infrastructure needs of major data center operators, including Microsoft, which recently announced an investment with Lumen. The new fiber-dense cable will enable Lumen to fit two-to-four times the amount of fiber into existing conduits, marking the first outside-plant deployment of Corning's new gen-AI fiber and cable system.