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What is Corning's gross profit margin?

What is the revenue and EPS growth rate for Corning year over year?

What guidance did Corning's management provide for the next earnings period?

What were the key takeaways from Corning's earnings call?

What does Corning do and what are its main business segments?

Did Corning beat or miss consensus estimates last quarter?

What factors drove the changes in Corning's revenue and profit?

- **Revenue Growth Accelerates**: Q4 2025 sales up 14% YoY to $4.41 billion, with free cash flow doubling to $1.72 billion.
- **Springboard Plan Supercharged**: 2028 incremental sales target raised to $11 billion (from $8 billion), with 2026 high-confidence plan at $5.75 billion.
- **Meta Deal Catalyst**: Up to $6 billion partnership for Gen AI optical solutions, anchored by U.S. manufacturing and customer prepayments.
- **Profitability Milestones**: Operating margin hit 20.2% in Q4 2025 (vs. 18.5% in 2023), with optical segment net margin at 18%.
- **Solar Expansion**: 2028 solar revenue target of $2.5 billion, despite near-term margin drag from capacity ramp.

**【CEO Summary Section】**
- **Record Q4 Results**: Revenue of $4.41 billion (+14% YoY), EPS of $0.72 (+26% YoY), operating margin of 20.2% (vs. 18.5% in Q4 2023). Full-year free cash flow doubled to $1.72 billion.
- **Springboard Plan Upgrade**: Internal plan now targets $11 billion in incremental annualized sales by 2028 (up from $8 billion), with 2026 high-confidence plan increased to $5.75 billion (vs. $4 billion).
- **Meta Partnership**: Up to $6 billion multiyear agreement for Gen AI optical solutions, anchored in U.S. manufacturing with customer prepayments and long-term commitments.
- **2026 Outlook**: Q1 sales expected to grow 15% YoY to $4.2-4.3 billion, EPS up 26% to $0.66-0.70.

**【CFO Financial Commentary】**
- **Segment Performance**: Optical Communications sales +35% YoY to $6.3 billion, Display net income +27% to $993 million, Specialty Materials +41% to $367 million.
- **Solar Expansion**: Q4 solar sales +62% YoY to $526 million, but net income drag of $0.03-0.05 due to capacity ramp. Target $2.5 billion solar revenue by 2028.
- **Cash Allocation**: $1.7 billion CapEx in 2026 (vs. $1.3 billion in 2025), with share buybacks resuming in Q2 2024.

**【Q&A Highlights】**
- **Customer Agreements**: Similar scale agreements to Meta being finalized, with financial impact materializing in 2027+.
- **Optical Pricing**: Higher-margin Gen AI products driving mix shift, with potential for value capture as innovation adoption accelerates.
- **Geographic Mix**: 60% of sales outside U.S., with factory locations driven by customer proximity and productivity improvements.
- **Operating Margin**: 20%+ target maintained, with optical segment net margin at 18% in 2025 (vs. 12% in 2023).

Corning Incorporated (GLW) Q4 2025 Earnings Call Transcript

- **Record Q3 Results**: Revenue $4.27B (+14% YoY), EPS $0.67 (+24% YoY), operating margin 19.6% (130bps expansion).
- **Springboard Plan Overachievement**: 31% sales growth, 72% EPS growth, and 20% operating margin target met a year early.
- **Gen AI and Solar Growth Drivers**: Enterprise networks up 58% YoY, solar business on track for $2.5B annualized revenue by 2028.
- **Capital Allocation Focus**: Share buybacks and high-return investments, with $1.3B CapEx for 2025.

**【CEO Summary Section】**
- **Revenue and Profit Growth**: Q3 revenue of $4.27 billion (+14% YoY), EPS of $0.67 (+24% YoY), operating margin expanded 130bps to 19.6%, and free cash flow of $535 million.
- **Springboard Plan Success**: Achieved 31% sales growth since Q4 2023, 330bps margin expansion, and 72% EPS growth, surpassing original targets. Q4 operating margin expected to hit 20% target a year ahead of schedule.
- **Gen AI and Solar Growth**: Enterprise networks sales up 58% YoY, and solar business on track for $2.5 billion annualized revenue by 2028.

**【CFO Financial Commentary】**
- **Segment Performance**: Optical Communications sales up 33% YoY, driven by Gen AI products; Display net income margin maintained at 25%; Specialty Materials and Automotive segments showed strong incremental profits.
- **Q4 Outlook**: Sales of $4.35 billion (+12% YoY), EPS guidance of $0.68-$0.72, and free cash flow expected to grow significantly YoY.
- **Capital Allocation**: $1.3 billion in CapEx for 2025, with focus on high-return investments and share buybacks.

**【Q&A Highlights】**
- **Demand and Supply Dynamics**: Tight supply for Gen AI products, with customers requesting faster delivery; Apple's $2.5 billion investment in U.S. manufacturing to support iPhone/Watch cover glass production.
- **Solar Ramp Progress**: New wafer facility ramping to 1 million/day, with 80% capacity pre-committed for next 5 years; targeting $1.6 billion annualized revenue by 2027.
- **Operating Margin Expansion**: Q4 operating margin expected to reach 20%, with ongoing cost control and incremental profit growth.


Corning Incorporated (GLW) Q3 2025 Earnings Call Transcript

- **Record Q2 Performance**: $4 billion in sales (12% YoY), EPS of $0.60 (28% YoY), and 19% operating margin highlight strong execution.
- **Springboard Momentum**: $3.1 billion in incremental sales since launch, with upgraded target of $6 billion by 2026.
- **Gen AI and Solar Growth**: Enterprise sales up 81% YoY, solar wafer production ramping in Q3 with 100% capacity booked for 2025.
- **Free Cash Flow and Buybacks**: $451 million in Q2 free cash flow, with ongoing share repurchases to return excess capital.
- **U.S. Manufacturing Expansion**: 34 factories positioned to attract new customers, with potential for major growth in coming quarters.

**【Management Opening Remarks】**
- Corning delivered Q2 2025 results exceeding guidance, with record sales of $4 billion (12% YoY growth) and EPS of $0.60 (28% YoY growth). Operating margin expanded to 19%, and free cash flow reached $451 million (28% YoY growth). Management highlighted strong progress on the Springboard plan, with $3.1 billion in incremental annualized sales since its launch in Q4 2023.

**【CEO Commentary】**
- **Springboard Plan Progress**: At the halfway point, sales grew 24% YoY, operating margin expanded 270 bps to 19%, and EPS increased 54% YoY. The plan is upgraded to $6 billion in incremental sales by 2026.
- **Gen AI Growth**: Enterprise sales grew 81% YoY, driven by hyperscale customers scaling out AI clusters. The scale-up opportunity (connecting GPUs across server racks) could be 2-3x the size of the current $2 billion enterprise business.
- **Solar Expansion**: Corning expects to triple solar sales by 2027, adding $1.6 billion in annualized revenue. New wafer production begins in Q3, with 100% capacity booked for 2025 and 80% for the next five years.
- **U.S. Manufacturing**: 34 factories in the U.S. are being leveraged to attract new customers, with confidential negotiations underway.

**【CFO Financial Commentary】**
- **Q3 Guidance**: Sales of $4.2 billion (10% YoY growth) and EPS of $0.63-$0.67 (15-23% YoY growth). Operating margin expected to expand further toward the 20% target.
- **Tariff Impact**: Q3 guidance includes $0.01-$0.02 impact from tariffs, consistent with Q2. Production ramp costs for Gen AI and solar products add $0.02-$0.03 in Q3.
- **Free Cash Flow**: $451 million in Q2, with $1.3 billion in capital allocation for 2025. Share buybacks continue, with $100 million in Q1 and ongoing purchases.

**【Q&A Highlights】**
- **Tariffs and Customer Buying**: Specialty Materials saw pull-forward buying ahead of tariffs, but Q3 guidance factors in normalization. Display and Gorilla Glass segments also saw temporary demand shifts.
- **Solar Policy Impact**: U.S. incentives for domestic solar manufacturing remain intact, supporting Corning's solar expansion. Advanced manufacturing tax credits are preserved.
- **Fiber Market Share**: Corning maintains leadership in high-density fiber solutions, with 3 industry-leading customers adopting its Gen AI fiber system. DCI (Data Center Interconnect) business is expected to reach $1 billion by the end of the decade.
- **Capacity Utilization**: Optical Communications capacity is tight on new products, but utilization is improving. Solar wafer production ramping in Q3 will drive incremental margins.


Corning Incorporated (GLW) Q2 2025 Earnings Call Transcript

- **Q1 Growth Accelerates**: 13% revenue growth to $3.7B, EPS up 42% to $0.54, operating margin expands to 18%.
- **Tariff Resilience**: Direct impact limited to $0.01-$0.02/Q2, U.S. manufacturing buffers risk.
- **Springboard Confidence**: 2026 targets of >$4B sales growth and 20% margin remain on track, even under macro stress.
- **Solar Momentum**: 2025 capacity fully booked, U.S. demand surging amid policy support.
- **GenAI Demand Strong**: Enterprise business up 106% YoY, hyperscalers reaffirm capex spend.


**【CEO Opening Remarks】**
- Q1 2025 revenue reached $3.7 billion, up 13% YoY, driven by strong growth in optical communications and solar businesses.
- EPS grew 42% YoY to $0.54, with operating margin expanding 250bps to 18%.
- Q2 guidance: $3.85 billion in sales and EPS of $0.55-$0.59, despite $0.01-$0.02 impact from tariffs and $0.03 in production ramp costs.
- Reaffirmed Springboard Plan to add >$4 billion in annualized sales by 2026, with 20% operating margin, even under macroeconomic stress scenarios.

**【CFO Financial Breakdown】**
- Optical Communications: Q1 sales $1.4 billion (+46% YoY), net income $201 million (+101% YoY), enterprise business up 106% YoY.
- Display: Q1 sales $905 million (+4% YoY), net income $243 million (26.9% margin), pricing actions offset yen weakness.
- Specialty Materials: Q1 sales $501 million (+10% YoY), net income $74 million (+68% YoY).
- Solar: 2025 capacity fully booked, 80% of next 5 years' capacity under contract.
- Free cash flow breakeven in Q1, expecting significant generation in 2025 with $1.3 billion CapEx.

**【Key Q&A Highlights】**
- **Tariffs & Pricing Power**: Minimal direct impact ($0.01-$0.02/Q2), U.S. manufacturing footprint mitigates risk; pricing dialogues in solar and optical reflect strong demand.
- **GenAI Order Visibility**: Hyperscale customers reaffirmed capex plans, Q1 enterprise business outperformed 30% CAGR target.
- **Solar Flexibility**: Long-term supply agreements with take-or-pay provisions reduce macro risk; U.S. solar demand accelerating due to policy tailwinds.
- **Capital Allocation**: Share buybacks ($100M/Q1) remain primary return vehicle, alongside high-return growth investments.


Corning (GLW)-29 Apr 25-2025 Q1 Earnings call transcript

- **Record Q4 Growth**: $3.9B revenue (+18%), EPS $0.57 (+46%), operating margin 18.5%.
- **Springboard Success**: $2.4B annualized sales growth in Year 1, 2026 plan upgrade announced.
- **GenAI Leadership**: Optical Enterprise sales +93% YoY, Lumen GenAI deployment begins.
- **Display Resilience**: 25% net margin maintained via price hikes, $900M 2025 guidance.
- **Cash Flow Strength**: $1.25B free cash flow (+42%), $120M buybacks.

**【CEO Opening Remarks】**
- Q4 2024 revenue reached $3.9 billion, up 18% YoY, driven by strong performance across all segments.
- EPS grew 46% to $0.57, with operating margin expanding 220bps to 18.5%.
- Springboard plan achieved $2.4 billion in annualized sales growth in Year 1, exceeding high-confidence targets.
- Key milestones: GenAI product adoption in Optical (Enterprise sales +93% YoY) and Display pricing stability (net income margin maintained at 25%).
- 2026 plan upgrade announced, with non-risk-adjusted $8 billion target retained but probabilistic adjustments made based on positive momentum.

**【CFO Financial Breakdown】**
- Full year 2024: Revenue $14.5 billion (+7%), EPS $1.96 (+15%), free cash flow $1.25 billion (+42%).
- Optical Communications: Q4 sales $1.37 billion (+51%), Enterprise segment $686 million (+93%).
- Display: Q4 net income $262 million, full year $900 million guided for 2025 with 25% margin.
- Q1 2025 guidance: Sales $3.6 billion (+10%), EPS $0.48-$0.52 (+30%).
- Capital allocation: $1.3 billion CapEx, 23-year debt maturity, $120 million share buybacks.

**【Q&A Key Themes】**
- **Springboard Plan Upgrade**: 2026 target to exceed $3 billion with higher probability of hitting non-risk-adjusted $5 billion.
- **Currency Hedging**: JPY120/$1 core rate for 2025-26, no recast of 2024 results.
- **Optical Momentum**: Lumen GenAI deployment begins, Carrier orders aligning with deployment rates.
- **BEAD Program**: Early orders minimal, but TAM validation ongoing.
- **Tariff Risks**: Limited direct impact due to US manufacturing focus.
- **Dividend Policy**: Payout ratio reduction priority over dividend growth.


Actual																0.2	0.25	0.43	0.52	0.45	0.53	0.56	0.54	0.54	0.57	0.51	0.47	0.41	0.45	0.45	0.39	0.38	0.47	0.54	0.57	0.54	0.6	0.67	0.72
Forecast																0.165	0.1188	0.3629	0.4851	0.4284	0.5131	0.5761	0.5191	0.4968	0.5647	0.5117	0.4422	0.3892	0.4544	0.4604	0.3933	0.3518	0.4631	0.5257	0.5588	0.5069	0.5707	0.6645	0.707
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	+21.21%	+110.44%	+18.49%	+7.19%	+5.04%	+3.29%	-2.79%	+4.03%	+8.70%	+0.94%	-0.33%	+6.29%	+5.34%	-0.97%	-2.26%	-0.84%	+8.02%	+1.49%	+2.72%	+2.00%	+6.53%	+5.13%	+0.83%	+1.84%

GLW

GLW fundamentals

GLW Q4 2025 Earnings

Earnings Call

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GLW

GLW fundamentals

GLW Q4 2025 Earnings

Earnings Call

GLW Earnings Call Summary for Q4/20258:30 AM on Jan 28, 2026

GLW Earnings Call Summary for Q3/20258:30 AM on Oct 28, 2025

GLW Earnings Call Summary for Q2/20258:30 AM on Jul 29, 2025

GLW Earnings Call Summary for Q1/20258:30 AM on Apr 29, 2025

GLW Earnings Call Summary for Q4/20248:30 AM on Jan 29, 2025

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