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 materials science leader driving innovations in specialty glass, optical fiber, and advanced ceramics. This news hub provides investors and industry professionals with comprehensive access to official press releases and verified updates about the company's technological breakthroughs and market strategies.
Track Corning's latest developments across core sectors including display technologies, telecommunications infrastructure, life science solutions, and automotive innovations. Our curated feed features earnings announcements, strategic partnership details, R&D milestones, and operational updates directly from the company.
Key content categories include quarterly financial results, new product commercialization efforts, manufacturing expansions, and sustainability initiatives. All materials are sourced from official Corning communications to ensure accuracy and timeliness.
Bookmark this page for convenient access to critical information about GLW's market position, technological advancements, and corporate developments. Check regularly for updates that could impact your understanding of Corning's role in enabling next-generation technologies across multiple industries.
Corning Incorporated (NYSE:GLW) has launched the SMF-28® Contour optical fiber, designed to enhance telecommunications infrastructure amid growing connectivity demands. This innovative fiber features superior bend resilience, ensuring reliable performance during installation and upgrades. Key benefits include 10 times the macrobend resilience of traditional fibers, up to 50% faster installation, and industry-leading low-loss transmission. Available in standard and smaller configurations, this product supports efficient deployment of 5G networks and cloud services, enhancing overall network reach and capacity.
Corning Incorporated's (GLW) Board of Directors has declared a quarterly dividend of $0.24 per share on common stock, set to be paid on June 29, 2021, to shareholders of record as of May 28, 2021. This announcement highlights the company's ongoing commitment to returning value to shareholders amidst uncertain market conditions. The forward-looking statements, however, come with caution as they outline risks related to economic conditions, supply chain disruptions, and competition, which could affect future revenue and operations.
Corning Incorporated (GLW) reported a strong Q1 2021 with a 38% increase in GAAP sales to $3.3 billion and a 29% rise in core sales year-over-year. Core EPS jumped 125% to $0.45. All segments saw double-digit growth, with notable increases in Environmental Technologies (sales up 38%) and Optical Communications (sales up 18%). Free cash flow grew to $372 million. However, challenges arose from elevated freight costs affecting profitability by approximately $50 million. The company anticipates continued momentum throughout the year.
Corning Incorporated (NYSE: GLW) has been recognized as a 2021 ENERGY STAR Partner of the Year for the eighth consecutive year, highlighting its commitment to energy efficiency by the U.S. EPA. Corning has improved its energy productivity by over 31% since 2006 and has surpassed $570 million in energy savings. The company continues to invest in renewable energy and ranks among the top 25 corporate solar energy users in the U.S. Corning launched its Global Energy Management program in 2006 to enhance its sustainability efforts.
Corning Incorporated (GLW) announced a significant transaction with Samsung Display, involving the repurchase of 35 million common shares, resulting in Samsung retaining a 9% ownership stake. Samsung will convert its preferred shares to 115 million common shares, enhancing Corning's EPS. The repurchase is expected to close in April 2021, reducing Corning's diluted share count by about 4%. This marks the resumption of share buybacks and reflects Samsung's commitment to Corning through at least 2028, underscoring their long-term partnership.
Corning has secured an additional $57 million in funding from the Biomedical Advanced Research and Development Authority (BARDA) to boost domestic glass tubing and vial manufacturing capacity. This initiative aligns with the U.S. government’s COVID-19 response efforts, aiming to accelerate vaccinations. The funding supplements the previous $204 million contract, amounting to a total of $261 million invested in this capacity. Corning is committed to delivering high-quality glass vials crucial for the ongoing vaccination efforts against COVID-19.
Corning announced the appointment of Roger W. Ferguson Jr. to its Board of Directors, effective April 1, 2021. Ferguson, the president and CEO of TIAA, will serve on the Compensation and Nominating and Corporate Governance committees. His extensive experience includes being a former vice chairman of the U.S. Federal Reserve and having held leadership roles at Swiss Re and McKinsey & Company. His appointment aims to strengthen Corning’s governance and strategic decision-making, aligning with the company's growth initiatives.
Corning Incorporated (GLW) announced a quarterly dividend of $0.24 per share, reflecting a 9% increase from the previous $0.22. The dividend will be paid on March 30, 2021, to shareholders recorded by February 26, 2021. CFO Tony Tripeny emphasized the company's strong cash flow and commitment to growth and shareholder rewards, highlighting the board's confidence in Corning's future.
Phoenix Venture Partners LLC (PVP) has successfully closed its latest venture capital fund, PVP III LP, at the end of 2020, which was oversubscribed. The fund attracted sophisticated financial institutions, family offices, and multinational corporations, including Pfizer (PFE) and Corning (GLW). PVP is recognized for its strong returns in Advanced Materials and Device investing, and the new fund aims to invest in innovative startups globally. Managing General Partners expressed satisfaction with the investor interest and commitment amid global challenges.
