Corning - GLW STOCK NEWS

Corning (GLW) announced it will receive $103.8 million from the U.S. Department of Health and Human Services’ BARDA to expand its manufacturing of advanced pharmaceutical glass tubing and vials. This funding aims to enhance the healthcare industry’s capability to meet public health demands, particularly in response to the COVID-19 pandemic. The investment will focus on increasing production in Vineland, NJ, and Durham, NC, addressing efficiency constraints in the domestic pharmaceutical supply chain.

Corning Incorporated (NYSE: GLW) has inaugurated a significant optical fiber manufacturing facility in Mszczonów, Poland, bolstering its global investment exceeding $500 million since 2020. This plant, among the largest in the EU, is designed to meet the escalating demand for high-speed connectivity. It aims to support network operators expanding broadband and 5G services. The new facility also adds 250 jobs to Corning's existing workforce in Poland, enhancing operational capacity to serve both local and global markets effectively.

Corning Incorporated (GLW) announced a significant expansion of manufacturing capabilities for optical cable in Gilbert, Arizona, expected to open in 2024. This facility will create approximately 250 jobs and nearly double Corning's ability to serve the U.S. cable market, driven by an ongoing partnership with AT&T (T). The investment, exceeding $500 million since 2020, aims to meet the increasing demand for fiber networks. Corning will also collaborate with AT&T to develop training programs for future technicians to address the projected need for 850,000 workers in the fiber optics sector by 2025.

Corning (GLW) reported Q2 2022 core sales of $3.8 billion, up 7% year-over-year, with an 8% increase in core EPS to $0.57. The company generated $440 million in free cash flow, maintaining strong cash generation. Optical Communications saw a 22% sales growth, while Display Technologies experienced an 8% sequential decline. Management expects full-year core sales to slightly exceed $15 billion, growing 6% to 8%. Despite challenges in key markets, Corning's pricing actions improved margins and profitability.

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.