Corning (NYSE:GLW) Posts Earnings Results, Beats Estimates By $0.02 EPS
by Jessica Moore · The Cerbat GemCorning (NYSE:GLW – Get Free Report) posted its quarterly earnings results on Tuesday. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.02, FiscalAI reports. The firm had revenue of $4.35 billion during the quarter, compared to analysts’ expectations of $4.28 billion. Corning had a net margin of 10.21% and a return on equity of 18.72%. The firm’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.54 earnings per share. Corning updated its Q2 2026 guidance to 0.730-0.770 EPS.
Here are the key takeaways from Corning’s conference call:
- Strong Q1 results — sales rose 18% to $4.35B and EPS grew 30% to $0.70, with operating margin up 220 bps to 20.2% and ROIC at 13.5%.
- Management will upgrade and extend its Springboard plan through 2030 at a May 6 investor event, highlighting expanded sales targets and a focus on the company’s GenAI-related portfolio.
- Solar ramp progress but near-term drag — solar sales grew 80% and polysilicon exceeded a 20% operating margin, but the new wafer plant is behind schedule and will take an extended Q2 maintenance shutdown, built into guidance as $30M of incremental expense and roughly a $0.07 EPS headwind.
- Optical Communications momentum — sales up 36% to $1.8B, anchored by a multiyear “up to $6 billion” agreement with Meta and two additional large long‑term agreements, prompting planned capacity expansions and higher-margin product adoption.
Corning Price Performance
Shares of NYSE:GLW traded down $9.35 during trading on Tuesday, hitting $158.66. 7,486,791 shares of the stock were exchanged, compared to its average volume of 10,995,919. The company has a market cap of $136.29 billion, a PE ratio of 87.15, a P/E/G ratio of 2.52 and a beta of 1.06. The company has a current ratio of 1.59, a quick ratio of 1.04 and a debt-to-equity ratio of 0.62. The company has a fifty day moving average price of $147.12 and a two-hundred day moving average price of $111.70. Corning has a 12-month low of $42.00 and a 12-month high of $179.08.
Corning Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, March 30th. Stockholders of record on Friday, February 27th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, February 27th. This represents a $1.12 annualized dividend and a dividend yield of 0.7%. Corning’s payout ratio is 60.87%.
Insider Transactions at Corning
In other Corning news, EVP Lewis A. Steverson sold 15,366 shares of the company’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $130.22, for a total value of $2,000,960.52. Following the sale, the executive vice president owned 3,461 shares of the company’s stock, valued at approximately $450,691.42. This represents a 81.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Wendell P. Weeks sold 137,514 shares of Corning stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $155.37, for a total value of $21,365,550.18. Following the transaction, the chief executive officer directly owned 750,585 shares of the company’s stock, valued at $116,618,391.45. This trade represents a 15.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 233,201 shares of company stock worth $32,614,558 over the last ninety days. 0.25% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Corning
Several hedge funds have recently added to or reduced their stakes in GLW. Kemnay Advisory Services Inc. purchased a new stake in shares of Corning in the fourth quarter valued at about $27,000. Litman Gregory Wealth Management LLC acquired a new stake in Corning during the 4th quarter valued at $31,000. JPL Wealth Management LLC acquired a new stake in Corning during the 3rd quarter valued at $33,000. Sfam LLC purchased a new position in Corning during the fourth quarter worth $35,000. Finally, WFA of San Diego LLC acquired a new position in shares of Corning in the second quarter worth $38,000. 69.80% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
GLW has been the topic of several recent analyst reports. Citigroup boosted their target price on Corning from $120.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. Mizuho set a $145.00 price target on Corning in a research note on Monday, February 23rd. UBS Group upped their price objective on Corning from $125.00 to $160.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Susquehanna increased their price objective on Corning from $100.00 to $125.00 and gave the stock a “positive” rating in a research report on Thursday, January 29th. Finally, JPMorgan Chase & Co. downgraded Corning from an “overweight” rating to a “neutral” rating and raised their target price for the company from $115.00 to $175.00 in a report on Thursday, April 16th. Ten research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $140.08.
Get Our Latest Report on Corning
Trending Headlines about Corning
Here are the key news stories impacting Corning this week:
- Positive Sentiment: Q1 results beat or matched expectations: core sales grew ~18% to $4.34–4.35B, core EPS rose ~30% to $0.70, and net income more than doubled — driven by robust demand for Gen AI data‑center products and a big solar ramp. Corning Announces Strong First-Quarter 2026 Financial Results
- Positive Sentiment: Optical Communications and solar segments showed strong growth (Optical +36%, Solar +80% YoY) and Corning added additional hyperscale customers — supportive for longer‑term AI/data‑center revenue trends. Q1 Press Release / Slide Deck
- Neutral Sentiment: Q2 EPS guidance was provided at $0.73–$0.77 versus a consensus ~$0.75 — roughly in line on EPS but leaving a wide range that creates uncertainty. MarketBeat GLW Summary
- Negative Sentiment: Revenue outlook for Q2 disappointed: management’s guidance and commentary signaled revenue below some Street estimates, with consumer electronics weakness (Gorilla Glass end‑market softness) tempering overall growth expectations. That missed top‑line signal is the main driver of downward pressure. Corning faces consumer electronics drag even as data‑center business booms
- Negative Sentiment: Analysts and commentators flagged the stock as stretched/overbought ahead of results; the combination of high valuation (elevated P/E) and a softer near‑term revenue guide prompted profit‑taking. Corning stock falls as Q2 revenue forecast misses Street estimates
About Corning
Corning Incorporated is a global manufacturer specializing in specialty glass, ceramics and related materials and technologies. Headquartered in Corning, New York, the company supplies engineered materials and components used across multiple industries, including consumer electronics, telecommunications, automotive emissions control, pharmaceutical and life sciences, and industrial and scientific applications. Corning emphasizes materials science and precision manufacturing to develop durable, high-performance glass and ceramic products.
Key product lines include specialty display glass used by television and mobile-device manufacturers, cover glass marketed under well-known trade names for smartphones and tablets, and optical fiber and cable and related hardware for telecommunications networks.