Corning targets 20% operating margin by end 2026; Display price hikes, Q3 guidance reaffirmed

CORNING INC /NY

Springboard plan targets >$3B in annualized sales by 2026 with operating margin of 20% by end 2026.
Display Technologies segment: price increases implemented; net income of $900M-$950M expected in 2025 with 25% net income margin.
Optical Communications Enterprise sales expected >40% YoY growth in Q3 2024, driven by generative AI products.
Q3 2024 guidance reaffirmed: core sales of $3.7B and core EPS of $0.50-$0.54.
Showcased new optical products for AI data centers, including first outside-plant deployment with Lumen.

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