earnings
confidence high
sentiment positive
materiality 0.75
Corning Q2 core sales $3.76B (+7% YoY), core EPS $0.57 (+8% YoY); FY guidance slightly above $15B
CORNING INC /NY
2022-Q2 EPS reported
$1.33
revenue$7,295,000,000
- Core sales $3.762B (+7% YoY); Optical Communications sales +22% YoY.
- Core EPS $0.57 (+8% YoY); GAAP EPS $0.66; free cash flow $440M.
- Q3 guidance: core sales $3.65-$3.85B, core EPS $0.51-$0.55.
- Management now expects FY core sales slightly above $15B, growth 6%-8%.
- Core gross margin and operating margin expanded 90 bps and 120 bps sequentially from Q1.