Corning Q1 core EPS $0.38, core sales $3.26B; guides Q2 core EPS $0.42-$0.46

CORNING INC /NY

2024-Q1 EPS reported $0.24 revenue$2,975,000,000

GAAP sales $2.98B, core sales $3.26B (down 6% and 3% YoY).
GAAP gross margin +180 bps YoY; core gross margin +160 bps YoY.
GAAP EPS $0.24, core EPS $0.38 (vs $0.41 year ago).
Adjusted free cash flow improved >$300M YoY to -$62M; operating cash flow $96M.
Management expects Q2 core sales ~$3.4B and core EPS $0.42-$0.46.

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 0.9

CORNING INC /NY reported first quarter ended March 31, 2024 results: revenue $2.98 billion, EPS $0.24.

Period: first quarter ended March 31, 2024
Revenue: $2.98 billion
EPS: $0.24
Result: reported results

Exact text from the filing

we are poised to deliver powerful incremental profit and cash flow and generate substantial shareholder value.” First-Quarter 2024 Financial Highlights: ● GAAP sales were $2.98 billion. Core sales were $3.26 billion. Year over year, GAAP and core sales declined by 6% and 3%, respectively. ● Profitability improved despite the lower sales, reflecting the

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Source: SEC EDGAR

accession 0001437749-24-013839

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