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 (NYSE: GLW) will present at the Citi 2020 Global Technology Conference on September 9, 2020. CFO Tony Tripeny and Chief Strategy Officer Jeff Evenson will discuss the company’s expected third-quarter performance, predicting sales growth in the low-teens percentage range sequentially, surpassing analyst expectations. Profitability is set to grow faster than sales due to effective cost control measures, with positive free cash flow anticipated for the year. Tripeny highlighted sustained positive momentum and a robust outlook for Corning's growth drivers.
Corning Incorporated (NYSE: GLW) reported Q2 results with GAAP sales at $2.6 billion, a 7% increase from Q1. Core EPS rose 25% sequentially to $0.25, while GAAP EPS was $(0.13). Net income improved to $218 million, up 23%. Free cash flow reached $285 million, indicating strong financial management. Highlights include a long-term supply agreement for Valor Glass vials and the launch of Gorilla Glass Victus. Despite challenges in Environmental Technologies, overall financial strength remains, with expectations for sales growth in Q3.
Corning Incorporated (NYSE: GLW) has launched Gorilla Glass Victus, a revolutionary glass technology enhancing drop and scratch performance for mobile devices. This innovation builds on over a decade of expertise, offering up to 2 meters of drop resistance and 4x better scratch resistance compared to competitors' products. Consumer research underscores that durability significantly influences purchasing decisions in key markets like China, India, and the United States. Samsung is set to be the first to adopt this new glass technology.
Corning, NY, July 15, 2020 - Corning declared a quarterly dividend of $0.22 per share on its common stock, payable on Sept. 30, 2020, to shareholders on record as of Aug. 28, 2020. The company highlights ongoing risks related to the COVID-19 pandemic, which may impact demand and operations, alongside various other uncertainties including tariffs, currency fluctuations, and competitive pressures. Corning emphasizes its commitment to innovation and strategic investment to navigate these challenges while maintaining shareholder returns.
Corning (GLW) and EnerSys (ENS) announced a strategic collaboration to accelerate 5G deployment by simplifying fiber and electrical power delivery to small-cell sites. The partnership aims to address infrastructure challenges impacting the deployment of outdoor small cells by improving power accessibility and fiber connectivity. This collaboration is expected to enhance operational efficiency, lower installation costs, and expedite service availability, positioning Corning to leverage 5G as a key growth driver in its Optical Communications business.
CORNING, NY, June 09, 2020 – Corning (GLW) announced a $204 million agreement with BARDA to enhance the production of Valor Glass vials for COVID-19 vaccines and treatments. This funding will enable Corning to expand manufacturing capacity in its facilities across New York, North Carolina, and New Jersey, addressing supply chain challenges in the pharmaceutical industry. CEO Wendell P. Weeks emphasized the significance of Valor Glass in ensuring high-quality pharmaceutical packaging, which is crucial for timely vaccine and drug delivery during the pandemic.
Corning Incorporated (NYSE: GLW) and Pfizer Inc. (NYSE: PFE) announced a long-term agreement for the supply of Corning Valor Glass vials for Pfizer's drug products, pending regulatory approval. The collaboration aims to enhance pharmaceutical packaging quality and efficiency, with Valor Glass designed to resist breakage and contamination. It has been provisionally evaluated by the FDA. Both companies believe this partnership will improve biopharmaceutical product quality across the industry.
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?
