CORNING INC /NY (GLW) Company Report

Corning delivered Q4 sales of $4.41 billion (+14% YoY) and EPS of $0.72 (+26% YoY), with operating margin expanding 170 bps to 20.2% and ROIC rising to 14.2%.
Full-year 2025 sales rose 13% to $16.4 billion, EPS grew 29% to $2.52, operating margin expanded 180 bps to 19.3%, and free cash flow nearly doubled to $1.72 billion.
The company upgraded its Springboard plan, targeting $6.5 billion of incremental annualized sales by end-2026 (vs. $6 billion prior) and $11 billion by end-2028, with a high-confidence 2026 target of $5.75 billion.
Q1 2026 guidance assumes ~15% sales growth to $4.2–4.3 billion, ~26% EPS growth to $0.66–0.70, and full-year capex of ~$1.7 billion, while continuing share buybacks.
Announced a multi-year, up to $6 billion agreement with Meta for GenAI data-center fiber and connectivity, reinforcing domestic capacity expansions in North Carolina.

6 days ago

Transcript

Corning reports Q4 2025 results

GLW

Earnings

Guidance Update

Share Buyback

Corning delivered 14% sales growth to $4.41 billion and 26% EPS growth to $0.72 in Q4; operating margin expanded 170 bps to 20.2% and ROIC rose to 14.2%.
For full-year 2025, the company achieved double-digit sales growth, with EPS growing twice as fast as sales and free cash flow nearly doubling to $1.72 billion.
2026 guidance includes Q1 sales growth of ~15% to $4.2 billion–$4.3 billion, Q1 EPS of $0.66–$0.70, and full-year capex of about $1.7 billion; free cash flow is expected to increase.
Springboard plan upgraded: internal incremental annualized sales targets raised to $6.5 billion by end-2026 (from $6 billion) and $11 billion by end-2028 (from $8 billion); high-confidence 2026 plan now $5.75 billion (from $4 billion).
Capital allocation priorities include maintaining ≥20% operating margin, investing in organic growth with customer-shared funding, and returning excess cash via share buybacks (cumulative ~800 million shares repurchased), resumed in Q2 2024.

6 days ago

Transcript

Corning reports Q4 and full-year 2025 results

GLW

Earnings

Guidance Update

Share Buyback

Q4 2025 revenue grew 14% to $4.4 B, EPS rose 26% to $0.72, operating margin expanded to 20.2%, and free cash flow was $732 M; full-year sales were $16.4 B (+13%), EPS $2.52 (+29%), operating margin 19.3%, FCF $1.7 B
Upgraded Springboard plan to add $11 B in incremental annualized sales by end-2028 (from $8 B) and $6.5 B by end-2026 (from $6 B); high-confidence 2026 target raised to $5.75 B (from $4 B)
Q1 2026 guidance: expected ~15% sales growth to $4.2–4.3 B and ~26% EPS growth to $0.66–0.70, including a $0.03–0.05 drag from the solar ramp
Capital allocation: plan for $1.7 B capital expenditures, maintain dividend, and focus excess cash on share buybacks—800 M shares repurchased over last decade, continuous buybacks since Q2 2024
Optical Communications segment: Q4 sales $1.7 B (+24%), FY $6.3 B (+35%), driven by Gen AI product adoption; enterprise business +61% and hyperscale growth even stronger

6 days ago

Transcript

Corning upgrades Springboard plan, Q4 net income up 26%

GLW

Earnings

Guidance Update

Upgraded Springboard plan alongside Q4 core sales of $4.41 billion and adjusted EPS of $0.72, both beating estimates
Q4 core net income rose 26% to $624 million; GAAP net income was $540 million (EPS $0.62); gross margin 38.1%, operating margin 20.2%
Transformation gains: core operating margin expanded 390 bps to 20.2%, core ROIC rose 540 bps to 14.2%, and adjusted free cash flow nearly doubled to $1.72 billion for 2025
Provided Q1 2026 guidance of adjusted EPS $0.66–$0.70 and core sales $4.2–$4.3 billion, near consensus

6 days ago

Morningstar

Corning reports Q4 and full-year 2025 results

GLW

Earnings

Guidance Update

Revenue Acceleration/Inflection

Q4 core sales of $4.41 billion (+14% YoY) and core EPS of $0.72 (+26% YoY) delivered record quarterly performance.
Full-year 2025 core sales reached $16.41 billion (+13% YoY) with core EPS of $2.52 (+29% YoY).
Q1 2026 guidance calls for core sales growth of ~15% to $4.2–4.3 billion and core EPS of $0.66–0.70.
Upgraded Springboard Plan boosts incremental annualized sales targets to $6.5 billion by end-2026 (from $6 billion) and $11 billion by end-2028 (from $8 billion).
Since Q4 2023, core operating margin expanded by 390 bps to 20.2% and core ROIC by 540 bps to 14.2%.

6 days ago

8-K

Corning posts record 2025 results, upgrades Springboard growth plan

GLW

Earnings

Guidance Update

Q4 2025 core sales rose 14% to $4.41 billion and core EPS increased 26% to $0.72 YoY.
Full-year 2025 core sales grew 13% to $16.41 billion and core EPS jumped 29% to $2.52 YoY.
Since Q4 2023, core operating margin expanded by 390 bps to 20.2% and core ROIC rose by 540 bps to 14.2%, while adjusted free cash flow nearly doubled to $1.72 billion in FY 2025.
Springboard plan upgraded: incremental annualized sales targets raised to $11 billion by end-2028 (from $8 billion), with end-2026 internal and high-confidence targets of $6.5 billion (from $6 billion) and $5.75 billion (from $4 billion), respectively.

6 days ago

Press Release

Corning announces up to $6 billion data center supply agreement with Meta

GLW

New Projects/Investments

Corning and Meta entered a multiyear agreement worth up to $6 billion for Corning to supply advanced optical fiber, cable and connectivity solutions to support Meta’s U.S. data center buildout.
The partnership will drive expansion of Corning’s North Carolina operations, including a new optical cable facility in Hickory and expanded capacity across the state.
Corning projects 15–20 percent employment growth in North Carolina, sustaining a skilled workforce of over 5,000 employees at its two largest optical manufacturing sites.
Meta will serve as the anchor customer, underscoring both companies’ focus on strengthening domestic supply chains and supporting AI infrastructure through U.S. manufacturing.

7 days ago

Press Release

Corning optical fiber preform market forecast projects $22.08 B by 2031

GLW

Market projected to grow from $6.55 B in 2025 to $22.08 B by 2031 at a 22.45% CAGR.
Growth driven by global 5G and fiber deployments (10.3 M US homes passed in 2024; >4 M 5G base stations in China) fueling preform demand.
Hyperscale data center AI workloads boosted Corning’s Optical Communications sales by 36% YoY in Q3 2024.
Raw material supply volatility (silica, helium) threatens output—helium constraints cut yields by ~15–20% in 2024.

Jan 26, 2026, 10:51 AM

Press Release

Corning and Ensurge to collaborate on solid-state microbattery development

GLW

New Projects/Investments

Corning Incorporated (NYSE: GLW) and Ensurge (OSE: ENSU) signed a joint development agreement to integrate Corning’s Ribbon Ceramic materials with Ensurge’s solid-state microbattery architecture, targeting ultra-high energy density performance.
The partnership focuses on commercializing batteries for high-volume consumer, medical, industrial, and defense applications by combining Corning’s materials science leadership with Ensurge’s thin-film roll-to-roll production expertise.
The agreement lays the groundwork for a new product line extension, accelerating the go-to-market timeline for next-generation AI-enabled and smart devices.

Nov 3, 2025, 5:01 AM

Press Release

Corning reports Q3 2025 results

GLW

Earnings

Guidance Update

New Projects/Investments

Reported sales of $4.27 billion (+14% y/y) and EPS of $0.67 (+24% y/y); operating margin expanded to 19.6%, ROIC to 13.4%, and free cash flow was $535 million in Q3 2025.
Since launching the Springboard plan in Q4 2023, Corning has grown sales 31%, expanded operating margin by 330 bps, and increased EPS 72%, adding $4 billion of incremental annualized sales; Q4 2025 sales are guided to $4.35 billion and operating margin is expected to reach 20%, a year ahead of plan.
Optical Communications sales rose 33% to $1.65 billion, driven by enterprise networks growth of 58% to $831 million (annualized $3.3 billion) and net income up 69% to $295 million on strong GenAI–driven demand.
Specialty Materials delivered sales of $621 million (+13%) and net income of $113 million (+57%) on premium mobile cover glass; Apple committed $2.5 billion to U.S. production at Harrodsburg and will open a co-innovation center there.
Emerging growth (solar) segment sales increased 46%, with the new ingot and wafer facility in Hemlock, MI, coming online in Q3; over 80% of capacity is committed for the next five years, and wafer output is set to exceed 1 million units/day in Q4.