Corning Shares Drop 14% on Third-Quarter Sales Guidance Below Estimates Despite Second-Quarter Beat
Corning reported second-quarter core sales of $4.74 billion, a 17% increase that topped consensus estimates, while core earnings per share rose 30% to $0.78. The company also advanced its long-term commercial strategy, outlining a target to reach a $20 billion annual sales run rate by the end of 2026 and project a 19% compound annual growth rate in sales through 2030.
Shares dropped more than 14% in after-hours trading after management guided for third-quarter core sales between $4.9 billion and $5 billion, falling short of analyst projections. Optical communications revenue jumped 32% to $2.07 billion, but the stock sold off alongside other optical equipment makers as investors focused on the near-term revenue forecast and sector-wide selling pressure.
From the sources (7 posts)
@wallstengineCORNING $GLW Q2’26 EARNINGS HIGHLIGHTS 🔹 Revenue: $4.74B (Est. $4.61B) 🟢; +17% YoY 🔹 Adj. EPS: $0.78 (Est. $0.76) 🟢; +30% YoY 🔹 Optical Communications: $2.07B; +32% YoY 🔹 Core Gross Margin: 39.6%; +120 bps YoY Q3 Guide: 🔹 Revenue: $4.9B-$
@alphasenseinc$GLW Earnings: Second-quarter GAAP results: Sales were $4.51 billion, gross margin was 36.1%, operating margin was 15.5%, EPS was $0.64, and operating cash flow was $1.72 billion. Wendell P. Weeks, chairman, chief executive officer, and
@stocksavvyshay$GLW Q2 EARNINGS • Revenue $4.74B vs Est. $4.61B • EPS $0.78 vs Est. $0.76 • Optical Communications: $2.07B (+32% YoY) • Gross Margin 40% vs Est. 38% Q3 Guidance • Revenue $4.95B vs Est. $4.99B • EPS $0.87 vs Est. $0.85 Corning says it’
@thetranscript_Corning CEO: "We’re entering a new phase of accelerating growth, and we expect to deliver a sales CAGR of 19% from Q4 2026 to Q4 2030 – while growing earnings faster than sales, with significantly higher ROIC and substantially more FCF" $
@vestexchange$GLW Q2 REPORT: CORE SALES UP 17%, OPTICAL COMMUNICATIONS UP 32% → Core sales of $4.74B beat the $4.63B estimate, up 17% YoY; core EPS of $0.78 vs. $0.76 expected → Optical Communications sales rose 32% to $2.07B, with Enterprise Networks
@alphasenseinc$GLW CFO Ed Schlesinger says they expect to continue increasing sales significantly to get from a $20 billion run rate to $30 to $40 billion over the next four years. Their Q3 guide implies they might reach the $20 billion target a quarter
@cnbcCorning tumbles 18% after earnings, leading rout in optical stocks