Quarterly ResultApr 28, 2026, 07:08 AM
GLW Q1 Core Sales +18% to $4.35B; Core EPS +30%; Two New Hyperscaler Deals
AI Summary
Corning Inc. reported strong first-quarter 2026 results, with core sales growing 18% to $4.35 billion and core EPS increasing 30% to $0.70 year-over-year. The company announced two additional large, long-term agreements with hyperscale customers, similar in size and duration to the recently disclosed multiyear, up-to-$6 billion Meta agreement, highlighting robust demand for Gen AI products. Optical Communications sales surged 36% and Solar sales rose 80% year-over-year. For Q2 2026, Corning expects core sales to grow approximately 14% to $4.6 billion and core EPS to increase about 25% to $0.73-$0.77, despite a $30 million expense from a solar wafer facility shutdown for upgrades.
Key Highlights
- Corning secured two new large, long-term agreements with hyperscale customers, similar to the $6 billion Meta deal.
- Q1 2026 core sales increased 18% year-over-year to $4.35 billion.
- Q1 2026 core EPS grew 30% year-over-year to $0.70.
- Optical Communications net sales rose 36% year-over-year to $1.846 billion.
- Solar net sales increased 80% year-over-year to $370 million.
- Q2 2026 core sales guidance of approximately $4.6 billion, up 14% year-over-year.
- Q2 2026 core EPS guidance of $0.73-$0.77, up 25% year-over-year.
- Q2 guidance includes $30 million additional expense for solar wafer facility maintenance and upgrades.