8-K
filed January 31, 2023, 6:59 PM ET
ticker GLW
CIK 0000024741
earnings
confidence high
sentiment negative
materiality 0.80
Corning Q4 core EPS $0.47, GAAP loss $(0.04); guides Q1 $0.35-0.42 on China disruptions
CORNING INC /NY
2022-FY EPS reported
$1.54
revenue$14,189,000,000
- Q4 core sales $3.6B, core EPS $0.47; GAAP EPS loss $(0.04) from restructuring and mark-to-market hedges.
- Full-year core sales $14.8B (+5% YoY); core EPS $2.09 (+1% YoY); free cash flow $1.24B.
- Optical Communications annual sales surpassed $5B all-time high; Hemlock & Emerging Growth up 34% YoY.
- Q1 2023 outlook: core sales $3.2-3.4B, core EPS $0.35-0.42; expects China pandemic disruptions; sequential improvement in Q2.
- Pricing and productivity actions taken in Q4 expected to improve margins starting Q1 2023.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
CORNING INC /NY reported First-Quarter 2023 results: revenue $3.2 billion to $3.4 billion, EPS $0.35 to $0.42. Guidance initiated.
- Period
- First-Quarter 2023
- Revenue
- $3.2 billion to $3.4 billion
- EPS
- $0.35 to $0.42
- Guidance
- initiated
- Result
- guidance update
Exact text from the filing
For the first quarter, management expects core sales in the range of $3.2 billion to $3.4 billion and core EPS in the range of $0.35 to $0.42.
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
CORNING INC /NY reported Full-Year 2022 results: revenue $14.8 billion, EPS $2.09.
- Period
- Full-Year 2022
- Revenue
- $14.8 billion
- EPS
- $2.09
- Result
- reported results
Exact text from the filing
debt. ● Free cash flow for the quarter was $377 million. Full-Year 2022: ● For the full year, GAAP sales were $14.2 billion, up 1% year over year, and core sales were $14.8 billion, up 5%, versus a strong 2021. o Optical Communications’ annual sales surpassed $5 billion, reaching an all-time high. o Display Technologies maintained stable pricing year over
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
CORNING INC /NY reported Fourth-Quarter 2022 results: revenue $3.6 billion, EPS $0.47.
- Period
- Fourth-Quarter 2022
- Revenue
- $3.6 billion
- EPS
- $0.47
- Result
- reported results
Exact text from the filing
Fourth-quarter GAAP sales were $3.4 billion, and core sales were $3.6 billion.
View on SEC.gov
This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice.
See methodology for how this pipeline works.