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 (NYSE: GLW) is a global leader in materials science with a rich history spanning over 160 years. The company's core expertise lies in specialty glass, ceramics, and optical physics, which they leverage to develop groundbreaking products that have transformed various industries.
Corning is renowned for its invention of damage-resistant Gorilla Glass, used extensively in smartphones and tablets, and precision glass for advanced displays. Their product portfolio also includes optical fiber and connectivity solutions pivotal for high-speed communication networks, as well as products that facilitate drug discovery and manufacturing in the life sciences sector.
The company operates across diverse markets, including consumer electronics, telecommunications, transportation, and environmental technologies. Recent achievements include significant progress in improving profitability and cash flow, even amid weak market conditions. For instance, Corning's second-quarter 2023 results saw a sequential margin expansion and $310 million in free cash flow, with plans to sustain this improvement in the latter half of the year.
Strategically, Corning emphasizes sustained investment in R&D, unique material and process innovations, and close customer collaborations. The company anticipates core sales of approximately $3.5 billion and core EPS to be stable or slightly improved in the third quarter of 2023.
Corning's commitment to innovation is reflected in their 'More Corning' approach, aiming to integrate more of their content into customers' offerings. The company is also advancing new projects such as the Corning® Gorilla® Armor for Samsung Galaxy S24 Ultra, showcasing enhanced durability and visual clarity.
Financially, Corning has managed to expand core gross margin by 330 basis points in the fourth quarter of 2022. The company expects first-quarter 2024 core sales of around $3.1 billion with core EPS ranging between $0.32 to $0.38. Despite current market challenges, Corning is well-positioned to capture new growth opportunities as markets recover.
Airspan Networks Holdings has announced a definitive agreement to acquire Corning's wireless business (NYSE:GLW), with the transaction expected to close in Q1 2025. The acquisition includes Corning's 6000 and 6200 distributed antenna systems (DAS) and SpiderCloud 4G and 5G small cell radio access network (RAN) products.
The acquired business features over 10,000 installations, relationships with major mobile operators, public venues, and enterprise customers, along with a broad patent portfolio developed over 15 years. The strategic move positions Airspan to offer the most comprehensive in-building wireless solution in the market, addressing the challenge that over 70% of mobile data usage occurs inside buildings.
Airspan expects mobile operators, venue owners, and enterprises to increase investment in indoor 5G service as outdoor 5G network buildout nears completion. The company commits to maintaining business continuity for existing customers, distributors, and partners.
Corning (NYSE: GLW) has announced its Board of Directors' declaration of a quarterly dividend of $0.28 per share. The dividend will be payable on March 28, 2025, to shareholders of record on February 28, 2025.
The company provided extensive forward-looking statements addressing various aspects of their business, including operating performance, market share, revenue growth, innovation capabilities, and capital expenditure. They acknowledged potential risks such as global economic trends, geopolitical risks, trade tensions, market volatility, and cyber security threats that could impact their operations and financial performance.
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.
FAQ
What is the current stock price of Corning (GLW)?
What is the market cap of Corning (GLW)?
What is Corning Incorporated known for?
What industries does Corning serve?
What are Corning's recent financial achievements?
What is Corning's 'More Corning' approach?
What is Corning's strategy for growth?
What are Corning's financial expectations for 2024?
How has Corning adapted to current market conditions?
What recent product innovations has Corning introduced?
How does Corning contribute to the life sciences sector?
Where can I find more information about Corning's financials?
