Quarterly ResultMay 1, 2026, 10:51 AM
GLW Q1 Net Sales +20% to $4.14B; EPS $0.43, up 139%
AI Summary
Corning Inc. reported strong first-quarter 2026 results, with net sales increasing 20% to $4.14 billion and diluted EPS soaring 139% to $0.43. Net income attributable to Corning Incorporated more than doubled to $371 million. The company also revised its segment structure, combining Display and Specialty Materials into "Glass Innovations" and consolidating solar-related businesses into a new "Solar" segment.
Key Highlights
- Net Sales increased 20% to $4.14 billion in Q1 2026 from $3.45 billion in Q1 2025.
- Net Income attributable to Corning Inc. rose 136% to $371 million from $157 million YoY.
- Diluted EPS grew 139% to $0.43 in Q1 2026 from $0.18 in Q1 2025.
- Optical Communications segment net sales increased 36.2% to $1.85 billion.
- Solar segment net sales surged 79.6% to $370 million.
- Issued $427 million in new Chinese yuan-denominated short-term borrowings.
- Declared a quarterly dividend of $0.28 per share.
- Received an unfavorable South Korean tax ruling, reducing receivables by $92 million.