secwatch.observer — SEC 8-K summary
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Issuer:     CORNING INC /NY (GLW)
CIK:        0000024741
Form:       8-K
Filed at:   2024-01-30T23:59:59+00:00
Accession:  0001437749-24-002506
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Corning Q4 core EPS $0.39; guides Q1 core sales ~$3.1B, core EPS $0.32–$0.38
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- Q4 GAAP sales $2,994M (-6% seq, -12% YoY); core sales $3,272M (-5% seq, -10% YoY).
- Q4 GAAP EPS $(0.05); core EPS $0.39; gross margin improved >300 bps YoY (GAAP +350bps, core +330bps).
- Adjusted free cash flow $487M in Q4; full-year adjusted free cash flow $880M on $2B operating cash flow.
- Full-year 2023: GAAP sales $12,588M (-11% YoY); core sales $13,580M (-8% YoY); core EPS $1.70 (-19% YoY).
- Sees opportunity to add >$3B in annualized sales as markets normalize; Q1 likely low quarter of 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/24741/000143774924002506/0001437749-24-002506-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/24741/000143774924002506/glw20230630_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-002506

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