Corning Stock Price, News & Analysis

Corning Incorporated (NYSE: GLW) announced a quarterly dividend of $0.27 per share, payable on September 29, 2022. Shareholders on record as of August 31, 2022 will receive this dividend. The company emphasizes that these forward-looking statements regarding future performance are subject to various uncertainties including economic conditions, competition, and market trends, which could impact the company's ability to sustain dividends or growth. Investors are advised to stay updated via the company's website and SEC filings for relevant information.

Corning Incorporated's Board of Directors has declared a quarterly dividend of $0.27 per share on common stock, enhancing shareholder value. The dividend will be payable on June 29, 2022, to shareholders of record on May 31, 2022. This decision reflects Corning's commitment to returning income to its investors while navigating current market uncertainties, including the persistent effects of the COVID-19 pandemic and fluctuating global economic conditions.

Corning (GLW) reported strong first-quarter 2022 results, with core sales of $3.7 billion, a 15% increase year-over-year, and core EPS of $0.54, up 20%. The company expects full-year sales to exceed $15 billion, driven by significant growth in Optical Communications and Display Technologies. Free cash flow reached $171 million, reflecting robust cash generation potential. Management highlighted ongoing pricing strategies and operational efficiencies as key contributors to profitability, despite facing inflationary pressures.

Corning has announced a 12.5% increase in its quarterly dividend, raising it to $0.27 per share from the previous $0.24. This dividend will be payable on March 30, 2022, to shareholders of record as of February 28, 2022. Edward Schlesinger, who will become CFO on February 18, 2022, stated that this increase reflects the company’s confidence in its strong cash flow and growth across various sectors. Corning aims for at least 10% annual increases through 2023 as part of its capital allocation strategy.

3D Glass Solutions Inc. has successfully raised an additional $4 million in its extended Series B1 funding round, bringing the total to $24 million. This funding saw participation from Corning, Menlo Microsystems, and Sun Mountain Capital. The financing follows a licensing agreement with Corning for through glass vias technology, enhancing 3DGS's offerings in the semiconductor market. The company aims to supply components for Menlo Microsystems' Ideal Switch™ under a long-term partnership.

Corning announced strong fourth-quarter and full-year results for 2021, with core sales of $3.7 billion and core EPS of $0.54. Full-year core sales grew 23% to over $14 billion, while core EPS rose 49% to $2.07. Free cash flow nearly doubled to $1.8 billion. The company anticipates continued growth in Q1 2022, forecasting core sales of $3.5 to $3.7 billion and core EPS of $0.48 to $0.53. For full-year 2022, Corning expects sales of approximately $15 billion. However, they noted a decrease in gross margin due to inflation and supply issues affecting profitability.

West Pharmaceutical Services (WST) has entered an exclusive supply and technology agreement with Corning (GLW) to enhance injectable drug delivery systems. This multimillion-dollar partnership seeks to expand Corning’s Valor® Glass technology, promoting advanced packaging solutions for the pharmaceutical industry aimed at improving patient safety and access to treatments. The collaboration combines West’s NovaPure® components with Corning’s Valor Glass, optimizing manufacturing processes and regulatory navigation for biopharma producers.

Corning has launched a new 2.0 high-index glass designed for augmented and mixed reality (AR/MR) devices, enhancing optical clarity and field of view. This advanced glass allows manufacturers to create lighter, more efficient headsets, improving user experience with clearer images. The new composition complements existing high-index glasses (1.8 and 1.9) and is part of Corning’s commitment to leading innovation in the AR/MR market. Corning will showcase this product at the SPIE AR | VR | MR event in January 2022.

Corning announced the appointment of Edward Schlesinger as the new executive vice president and CFO, effective February 18, 2022, succeeding retiring CFO Tony Tripeny. Schlesinger, who has been with the company since 2013 and led various finance functions since 2015, brings extensive experience to the role. The transition aligns with Corning's strategy to develop global talent and capitalize on long-term opportunities. Tripeny, who retires after 36 years, has significantly contributed to the company's growth, reinforcing strong relationships with employees and investors.