secwatch.observer — SEC 8-K summary
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Issuer:     CORNING INC /NY (GLW)
CIK:        0000024741
Form:       8-K
Filed at:   2022-10-25T23:59:59+00:00
Accession:  0001437749-22-024657
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Corning Q3 core sales flat YoY at $3.7B, core EPS $0.51; Q4 guidance below Q3 actual
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- Core sales $3.666B (+1% YoY); GAAP sales $3.488B (-4% YoY); core EPS $0.51 vs. $0.56 YoY; GAAP EPS $0.24.
- Display Technologies sales down 28% YoY; panel maker utilization at lowest since 2008; glass price consistent.
- Optical Communications sales up 16% YoY; Hemlock & Emerging Growth up 33% YoY on solar demand.
- Free cash flow $255M in Q3, $866M first 9 months; on pace for strong cash generation.
- Q4 guidance: core sales $3.45-3.65B, core EPS $0.41-0.47; expects display volume recovery but wants more evidence.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/24741/000143774922024657/0001437749-22-024657-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/24741/000143774922024657/glw20220801_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-22-024657

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer