---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-010959"
form_type: "8-K"
ticker: "GLW"
cik: "0000024741"
company_name: "CORNING INC /NY"
filed_at: "2023-04-25T23:59:59+00:00"
generated_at: "2026-06-16T17:06:29.109979+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Corning Q1 core sales $3.4B, core EPS $0.41; guides Q2 core sales $3.4-3.6B

## Summary
- Q1 GAAP sales $3.18B, core sales $3.4B, both down 7% sequentially; core EPS $0.41 vs $0.47 Q4 2022.
- Gross and operating margins improved 160 and 150 bps sequentially to 35.2% and 15.5% despite lower sales.
- Display Technologies volume increased late in Q1 as China conditions improved; Optical Communications sales down 6% sequentially.
- Q2 outlook: core sales $3.4-3.6B, core EPS $0.42-0.49; sequential improvement expected across sales, profitability, and cash flow.
- Free cash flow negative $383M due to normal cyclicality and lower sales; management focused on profitability and cash flow.

## SEC filing metadata
- accession: 0001437749-23-010959
- form_type: 8-K
- ticker: GLW
- cik: 0000024741
- company_name: CORNING INC /NY
- filed_at: 2023-04-25T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/24741/000143774923010959/0001437749-23-010959-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/24741/000143774923010959/glw20221229_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-010959
- JSON: https://secwatch.observer/filing/0001437749-23-010959.json
- Plain text: https://secwatch.observer/filing/0001437749-23-010959.txt

## Key facts
- Earnings Releases
  CORNING INC /NY reported first quarter ended March 31, 2023 results: revenue $3.2 billion and $3.4 billion, EPS $0.20 and $0.41. Guidance initiated.
  - Period: first quarter ended March 31, 2023
  - Revenue: $3.2 billion and $3.4 billion
  - EPS: $0.20 and $0.41
  - Guidance: initiated
  - Result: reported results
  source text: First-Quarter 2023 Financial Performance: ● First-quarter GAAP sales were $3.2 billion, and core sales were $3.4 billion. Both GAAP and core sales declined 7% sequentially. o Display Technologies’ sales declined 3% sequentially as both volume and glass price declined slightly. Volume increased significantly in March as conditions in China improved and panel maker utilization resumed its recovery. o Optical Communications’ sales decreased 6% sequentially as pricing actions partially offset a greater-than-normal seasonal volume decline associated with the pacing of customer projects. o Environmental Technologies’ sales increased 9% sequentially. Increased gasoline particulate filter adoption helped drive the sequential improvement. ● First-quarter GAAP EPS was $0.20. Core EPS was $0.41 versus $0.47 for the prior quarter.
  evidence_url: https://www.sec.gov/Archives/edgar/data/24741/000143774923010959/0001437749-23-010959-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.