Welcome to our dedicated page for Corning Incorporated news (Ticker: GLW), a resource for investors and traders seeking the latest updates and insights on Corning Incorporated 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.
Corning, NY-based Corning announced a quarterly dividend of $0.28 per share. This dividend will be paid on September 27, 2024, to shareholders who are recorded as of August 30, 2024. This declaration by Corning's Board of Directors reflects the company's ongoing commitment to returning value to its shareholders.
Corning Incorporated (NYSE: GLW) announced that CEO Wendell P. Weeks will participate in the J.P. Morgan 52nd Global Technology, Media and Communications Conference. Weeks highlighted Corning's strategy to increase annualized sales by over $3 billion and achieve substantial profit and cash flow within three years. He noted the company's existing capacity and capabilities to support this growth are already in place. The discussion will provide insights into Corning's market outlook, trends, and growth drivers. A live and recorded webcast of the event will be available on Corning's Investor Relations website.
Corning Incorporated (NYSE: GLW) has announced a quarterly dividend of $0.28 per share, payable on June 27, 2024, to shareholders of record on May 31, 2024.
Corning Incorporated (NYSE: GLW) reported first-quarter 2024 financial results with GAAP sales of $2.98 billion and core sales of $3.26 billion. The company expects core sales to grow in the second quarter to approximately $3.4 billion, with core EPS between $0.42 to $0.46. Corning is well positioned to add over $3 billion in annualized sales, aiming for significant profit and cash flow growth.
FAQ
What is the current stock price of Corning Incorporated (GLW)?
What is the market cap of Corning Incorporated (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?
