Corning Q2 core EPS $0.45, core sales $3.48B; guides Q3 core sales ~$3.5B

CORNING INC /NY

2023-Q2 EPS reported $0.53 revenue$6,421,000,000

GAAP EPS $0.33 (up 65% seq); core EPS $0.45 (up 10% seq); core gross margin 36.2% (up 100 bps seq).
Core sales $3.48B, up 3% seq but down 7% YoY; management cites weak end-market environment.
Q3 outlook: core sales ~$3.5B, core EPS about same or slightly better than Q2.
Free cash flow improved to $310M in Q2; sequential margin expansion reflects pricing and productivity actions.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

CORNING INC /NY reported third quarter 2023 results: revenue approximately $3.5 billion. Guidance initiated.

Period: third quarter 2023
Revenue: approximately $3.5 billion
Guidance: initiated
Result: guidance update

Exact text from the filing

In the third quarter, management expects core sales of approximately $3.5 billion and core EPS to be about the same or slightly better than in the second quarter.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

CORNING INC /NY reported second quarter ended June 30, 2023 results: revenue $3.5 billion, net income $388, EPS $0.45.

Period: second quarter ended June 30, 2023
Revenue: $3.5 billion
Net income: $388
EPS: $0.45
Result: reported results

Exact text from the filing

● Second-quarter GAAP sales were $3.2 billion, up 2% sequentially. Core sales were $3.5 billion, up 3% sequentially, driven by Display Technologies. GAAP and core sales were down year over year, reflecting continued lower demand in several markets. ● Second-quarter GAAP EPS was $0.33, up 65% sequentially. Core EPS of $0.45 increased $0.04, or 10%, from the prior quarter.

View on SEC.gov

Browse all earnings releases →

CORNING INC /NY filing history →

Source: SEC EDGAR

accession 0001437749-23-020585

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

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.