Corning Q3 core EPS $0.45 flat QoQ; Q4 core sales guide ~$3.25B

CORNING INC /NY

2023-Q3 EPS reported $0.72 revenue$9,594,000,000

Core sales $3.46B flat QoQ; GAAP sales $3.17B down 2% QoQ. Core gross margin 37% +80bps QoQ.
Core EPS $0.45 unchanged QoQ; GAAP EPS $0.19 down 42% QoQ. Free cash flow $466M +$156M QoQ.
Q4 outlook: core sales ~$3.25B, core EPS $0.37-0.42, similar gross margin, strong FCF expected.
Display pricing and productivity drove margin expansion despite weak demand across markets.
CEO highlights 'More Corning' content wins including color-infused glass for iPhone 15.

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 1.0

CORNING INC /NY reported financial results for third quarter ended September 30, 2023.

Period: third quarter ended September 30, 2023
Result: reported results

Exact text from the filing

The Corning Incorporated press release dated October 24, 2023 regarding its financial results for the third quarter ended September 30, 2023 is attached hereto as Exhibit 99.

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Source: SEC EDGAR

accession 0001437749-23-028803

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