Corning Announces Strong First-Quarter 2026 Financial Results (1)

CORNING, N.Y., April 28, 2026–(BUSINESS WIRE)–Corning Incorporated (NYSE: GLW) in the present day introduced its first-quarter 2026 outcomes and supplied its outlook for second-quarter 2026.

News Summary:

• First-quarter core gross sales grew 18% to $4.35 billion, and core EPS grew 30% to $0.70 versus Q1-2025.

  • Robust demand for Gen AI merchandise and the ramp of recent photo voltaic merchandise drove Q1 development.

  • Optical Communications gross sales grew 36%, and Solar gross sales had been up 80% 12 months over 12 months.

• Two further hyperscale prospects entered into massive, long-term agreements with Corning.

  • Deals are comparable in measurement and period to the not too long ago introduced multiyear, up-to-$6 billion settlement with Meta.

  • Agreements spotlight prospects’ dedication to develop, innovate, and manufacture the important applied sciences that energy next-generation AI knowledge facilities within the United States.

• Corning plans to improve and prolong its Springboard plan by way of 2030 and introduce a brand new Market-Access Platform on the firm’s May 6 NYC investor occasion.

• For the second quarter, administration expects to develop core gross sales about 14% 12 months over 12 months to roughly $4.6 billion and core EPS about 25% 12 months over 12 months to a spread of $0.73-$0.77.

  • Second-quarter steering contains an prolonged upkeep shutdown at Corning’s photo voltaic wafer facility, together with the transition to a everlasting energy system whereas the corporate repairs, upgrades, and modifies manufacturing gear to extend throughput in future quarters. This will trigger an extra $30 million of expense in Q2 versus Q1 and is included in steering.

Wendell P. Weeks, chairman, chief govt officer, and president, stated, “Our strong first-quarter results continued the powerful trajectory of our Springboard plan. Versus Springboard’s Q4-2023 starting point, we grew core sales 33% and core EPS 79%, and we expanded core operating margin and core ROIC by 390 basis points and 470 basis points, respectively. Additionally, we finalized two more hyperscaler deals similar in size and duration to our recently announced multiyear, up-to-$6 billion agreement with Meta. In total, we have powerful momentum across our Market-Access Platforms.”

Weeks continued, “Based on strong demand for our innovations, we plan to upgrade and extend our Springboard plan through 2030 at our May 6 investor event. We will introduce our new Photonics Market-Access Platform and explain the underlying technical and demand trends driving our Gen AI product development.”

Ed Schlesinger, govt vice chairman and chief monetary officer, stated, “Our first-quarter results show continued excellent performance on our Springboard plan. We delivered our eighth consecutive quarter of year‑over‑year growth, with core sales up 18% led by Optical Communications and our new Solar business, which was up 80%. Our solar ramp continues with our polysilicon business performing above our 20% corporate operating margin target in the first quarter, and our module business is on track to cross over in the second quarter. We continued to enhance the company’s financial profile, growing core EPS 30% year over year, while expanding core operating margin 220 basis points, core gross margin 120 basis points, and core ROIC 190 basis points.”

Schlesinger continued, “In the second quarter, we expect to grow core sales about 14% year over year to approximately $4.6 billion and to grow core EPS about 25% year over year to a range of $0.73 to $0.77. We have built into our second-quarter forecast an extended maintenance shutdown at our solar wafer facility, including the transition to a permanent power system while we repair, upgrade, and modify our production equipment to increase throughput in future quarters. This will cause an additional $30 million of expense versus the first quarter.”

First-Quarter 2026 Financial Highlights:

• GAAP gross sales had been $4.14 billion, up 20% 12 months over 12 months. Core gross sales had been $4.35 billion, up 18% 12 months over 12 months.

• GAAP EPS was $0.43, up 139% 12 months over 12 months. Core EPS was $0.70, up 30% 12 months over 12 months. Differences between GAAP and core EPS embrace fixed foreign money changes in addition to primarily non-cash objects, together with acquisition-related prices; discrete tax objects and different tax-related changes; and restructuring, impairment, and different fees and credit.

• GAAP gross margin was 36.9%. Core gross margin expanded 120 foundation factors to 39.1%.

• GAAP working margin was 15.4%. Core working margin was 20.2%.

• GAAP working money stream was $362 million, and adjusted free money stream was $188 million.

Second-Quarter 2026 Outlook:

First-Quarter 2026 Results and Comparisons
(In hundreds of thousands, besides per-share quantities)

First-Quarter 2026 Segment Results
(In hundreds of thousands)
The first-quarter outcomes beneath are ready on a foundation in line with Corning’s section reporting as introduced within the firm’s consolidated monetary statements.

Effective within the first quarter of 2026, Corning revised its section reporting construction to align with its present working and administration construction. As a outcome, the corporate created a Glass Innovations section, combining its former Display and Specialty Materials segments. Corning additionally created a Solar section, which incorporates Hemlock Semiconductor Group and the corporate’s photo voltaic wafer and module manufacturing companies. Optical Communications and Automotive stay unchanged. All different outcomes shall be grouped as Life Sciences and Emerging Growth Businesses. Prior-period outcomes have been recast to adapt to the present presentation.

Upcoming Investor Events
On Wednesday, May 6, Corning Incorporated will host buyers and analysts on the New York Stock Exchange, beginning at 9 a.m. ET. Corning will even attend the J.P. Morgan 2026 Global Technology, Media, and Communications Conference on May 19. In addition, the corporate will schedule administration visits to investor workplaces in choose cities. Visit the corporate’s Investor Relations website for up-to-date info.

First-Quarter Conference Call Information
The firm will host its first-quarter convention name on Tuesday, April 28, at 8:30 a.m. ET. To take part, people might preregister here previous to the beginning of the decision. Once the required fields are accomplished, click on “Register.” A phone quantity and PIN shall be auto generated and can pop up on display screen. Participants could have the selection to “Dial In” or have the system “Call Me.” A affirmation electronic mail will even be despatched with particular dial-in info. To hearken to a stay audio webcast of the decision, go to the corporate’s Investor Relations events page and comply with the directions.

Presentation of Information on this News Release
This information launch contains non-GAAP monetary measures. Non-GAAP monetary measures usually are not in accordance with, or an alternative choice to, GAAP. Corning’s non-GAAP monetary measures exclude the impression of things which can be pushed by basic financial situations and occasions that don’t replicate the underlying fundamentals and tendencies within the firm’s operations. The firm believes presenting non-GAAP monetary measures assists in analyzing monetary efficiency with out the impression of things which will obscure tendencies within the firm’s underlying efficiency. Definitions of those non-GAAP monetary measures and reconciliations of those non-GAAP monetary measures to probably the most instantly comparable GAAP monetary measures might be discovered on the corporate’s web site by going to the Investor Relations web page and clicking “Quarterly Results” below the “Financials and Filings” tab. These reconciliations additionally accompany this information launch.

With respect to the outlook for future durations, it’s not attainable to offer reconciliations for these non-GAAP measures as a result of administration doesn’t forecast the motion of foreign currency echange in opposition to the U.S. greenback, or different objects that don’t replicate ongoing operations, nor does it forecast objects that haven’t but occurred or are out of administration’s management. As a outcome, administration is unable to offer outlook info on a GAAP foundation.

Caution Concerning Forward-Looking Statements
The statements contained on this launch and associated feedback by administration that aren’t historic details or info and comprise phrases resembling “will,” “believe,” “anticipate,” “expect,” “intend,” “plan,” “seek,” “see,” “would,” “target,” “estimate,” “forecast” or comparable expressions are forward-looking statements. These forward-looking statements are made pursuant to the protected harbor provisions of the Private Securities Litigation Reform Act of 1995 and embrace estimates and assumptions associated to financial, aggressive and legislative developments. Such statements relate to future occasions that by their nature tackle issues which can be, to completely different levels, unsure. These forward-looking statements relate to, amongst different issues, the Company’s Springboard plan, projected monetary and working efficiency, anticipated gross sales alternatives, long-term development technique, anticipated capital deployment, innovation and commercialization plans, and anticipated impacts of buyer agreements.​

Although the corporate believes that these forward-looking statements are primarily based upon affordable assumptions concerning, amongst different issues, present estimates and forecasts, basic financial situations, its information of its enterprise and key efficiency indicators that impression the corporate, there might be no assurance that these forward-looking statements will show to be correct, as precise outcomes and future occasions might differ materially from these anticipated in such statements. The firm undertakes no obligation to replace forward-looking statements if circumstances or administration’s estimates or opinions ought to change besides as required by relevant securities legal guidelines.​

Some of the dangers, uncertainties and different elements that might trigger precise outcomes to vary materially from these expressed in or implied by the forward-looking statements embrace, however usually are not restricted to: international financial tendencies, competitors and geopolitical dangers, or an escalation of sanctions, tariffs or different commerce tensions between the U.S. and different nations, and associated impacts on our companies’ international provide chains and techniques; adjustments in macroeconomic and market situations and market volatility, together with developments and volatility arising from well being disaster occasions, inflation, rates of interest, the worth of securities and different monetary property, valuable metals, oil, pure fuel, uncooked supplies and different commodity costs and change charges (significantly between the U.S. greenback and the Japanese yen, South Korean received, Chinese yuan, New Taiwan greenback, Mexican peso and euro), decreases or sudden will increase of client demand, and the impression of such adjustments and volatility on our monetary place and companies; the supply of or adversarial adjustments referring to authorities grants, tax credit or different authorities incentives; the period and severity of well being disaster occasions, resembling an epidemic or pandemic, and its impression throughout our companies on demand, personnel, operations, our international provide chains and inventory worth; attainable disruption in industrial actions or our provide chain resulting from terrorist exercise, cyber-attack, armed battle, political or monetary instability, pure disasters, worldwide commerce disputes or main well being issues; lack of mental property resulting from theft, cyber-attack, or disruption to our info expertise infrastructure; skill to implement patents and shield mental property and commerce secrets and techniques; disruption to Corning’s, our suppliers’ and producers’ provide chain, gear, amenities, IT techniques or operations; product demand and business capability; aggressive merchandise and pricing; availability and prices of important parts, supplies, gear, pure sources and utilities; new product improvement and commercialization; our photo voltaic enterprise improvement, together with manufacturing facility building, ramp, and operations, and the achievement of photo voltaic income and profitability targets; order exercise and demand from main prospects; the quantity and timing of our money flows and earnings and different situations, which can have an effect on our skill to pay our quarterly dividend on the deliberate stage or to repurchase shares at deliberate ranges; the quantity and timing of any future dividends; the consequences of acquisitions, inclinations and different comparable transactions; the impact of regulatory and authorized developments; skill to tempo capital spending to anticipated ranges of buyer demand; our skill to extend margins by way of implementation of operational adjustments, pricing actions and price discount measures; charge of expertise change; adversarial litigation; product and part efficiency points; retention of key personnel; buyer skill to keep up worthwhile operations and procure financing to fund ongoing operations and manufacturing expansions and pay receivables when due; lack of important prospects; adjustments in tax legal guidelines, rules and worldwide tax requirements; the impacts of audits by taxing authorities; the potential impression of laws, authorities rules, and different authorities motion and investigations; and different dangers detailed in Corning’s SEC filings.

For an entire itemizing of dangers and different elements, please reference the danger elements and forward-looking statements described in our annual experiences on Form 10-Okay and quarterly experiences on Form 10-Q.

Web Disclosure
In accordance with steering supplied by the SEC concerning using firm web sites and social media channels to reveal materials info, Corning Incorporated (“Corning”) needs to inform buyers, media, and different events that it makes use of its web site (https://www.corning.com/worldwide/en/about-us/news-events.html) to publish vital details about the corporate, together with info that could be deemed materials to buyers, or supplemental to info contained on this or different press releases. The listing of internet sites and social media channels that the corporate makes use of could also be up to date on Corning’s media and web site infrequently. Corning encourages buyers, media, and different events to assessment the knowledge Corning might publish by way of its web site and social media channels as described above, along with the corporate’s SEC filings, press releases, convention calls, and webcasts.

About Corning Incorporated
Corning (www.corning.com) is likely one of the world’s main innovators in supplies science, with a 175-year observe report of life-changing innovations. Corning applies its unparalleled experience in glass science, ceramic science, and optical physics, together with its deep manufacturing and engineering capabilities to develop category-defining merchandise that remodel industries and improve individuals’s lives. Corning succeeds by way of sustained funding in RD&E, a novel mixture of fabric and course of innovation, and deep, trust-based relationships with prospects who’re international leaders of their industries. Corning’s capabilities are versatile and synergistic, which permits the corporate to evolve to satisfy altering market wants, whereas additionally serving to its prospects seize new alternatives in dynamic industries. Today, Corning’s markets embrace optical communications, cell client electronics, show, automotive, photo voltaic, semiconductors, and life sciences.

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Contacts

Media Relations Contact:
Gabrielle Bailey
(607) 684-4557
baileygr@corning.com

Investor Relations Contact:
Christopher Keenan
(607) 974-6716
keenanct@corning.com