Overview

* Corning Q3 core sales rise 14% yr/yr to $4.27 bln, beating analyst expectations

* Core EPS for Q3 grows 24% to $0.67, surpassing analyst estimates

* Optical Communications sales increase 58% yr/yr, driven by Gen AI products

Outlook

* Company expects Q4 core sales of approximately $4.35 bln

* Corning sees Q4 core EPS between $0.68 and $0.72

* Company aims for 20% operating margin in Q4 2025

Result Drivers

* OPTICAL COMMUNICATIONS - Sales in this segment grew 58% yr/yr, driven by strong adoption of Gen AI products

* APPLE COMMITMENT - Apple's $2.5 bln commitment to Corning's Kentucky facility for iPhone and Apple Watch glass production adds to growth opportunities

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Sales $4.10

bln

Q3 Core Beat $4.26 $4.22

Sales bln bln (11

Analysts

)

Q3 Core Beat $0.67 $0.66

EPS (10

Analysts

)

Q3 EPS $0.50

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the electronic equipment & parts peer group is "buy"

* Wall Street's median 12-month price target for Corning Inc ( GLW ) is $77.50, about 15.3% below its October 27 closing price of $89.37

* The stock recently traded at 32 times the next 12-month earnings vs. a P/E of 21 three months ago

Press Release:

For questions concerning the data in this report, contact [email protected]. For any other questions or feedback, contact .

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)