Corning reports Q3 EPS 54c, consensus 52c

Reports Q3 revenue $3.99B, consensus $3.72B.”We delivered another strong quarter of year-over-year growth. Third-quarter core sales grew 8% to $3.73 billion, and core EPS grew 20% – more than double the rate of sales – to $0.54, with core operating margin expanding 160 basis points to 18.3%. These results demonstrate the powerful incrementals embedded in our ‘Springboard’ plan to add more than $3 billion in annualized sales – and achieve operating margin of 20% – by the end of 2026.” Weeks continued, “In addition to delivering strong third-quarter results, we are marking strategic milestones in our ‘Springboard’ plan. In Display Technologies, we implemented price increases and expect to deliver segment net income of $900 million to $950 million in 2025 and to maintain net income margin of 25%. Additionally, in Optical Communications, our new products for generative AI are seeing strong demand and driving record year-over-year growth in our Enterprise business. We also recently announced a multiyear supply agreement, valued at more than $1 billion, with AT&T to provide next-generation fiber, cable, and connectivity solutions to support the expansion of AT&T’s fiber network and help bring high-speed internet to more Americans.”