Corning Q2 Earnings Call Highlights
MarketBeat
Tue, July 28, 2026 at 11:34 PM GMT+5:30
7 min read
- GLW
-12.80%
Key Points
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Corning exceeded Q2 guidance, with core sales rising 17% year over year to $4.74 billion and EPS increasing 30% to $0.78. Gross and operating margins expanded, while free cash flow reached $1.42 billion
Optical Communications drove growth, as segment sales climbed 32% to $2.07 billion and AI data-center-related sales nearly doubled. Demand for high-density optical products remains above Corning’s production capacity, supported by agreements with Meta, NVIDIA and Amazon
Corning forecast Q3 sales of $4.9 billion to $5 billion and core EPS of $0.85 to $0.89. The company plans to invest about $2 billion in 2026 capital expenditures to expand Optical Communications capacity while pursuing its long-term growth targets
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Corning (NYSE:GLW) reported second-quarter 2026 results that exceeded its guidance, led by continued growth in Optical Communications and demand for products supporting generative AI data centers. The company also reiterated its long-term Springboard growth plan, which calls for an annualized sales run rate of $20 billion by the end of 2026, $30 billion by the end of 2028 and $40 billion by the end of 2030
On a core, non-GAAP basis, second-quarter sales rose 17% year over year to $4.74 billion, while earnings per share increased 30% to $0.78. Gross margin expanded 120 basis points to 39.6%, operating margin increased 190 basis points to 20.9%, and return on invested capital rose 180 basis points to 14.9%. The company generated $1.42 billion in free cash flow
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“We are entering a new phase of accelerating growth,” Chairman, President and CEO Wendell Weeks said. Corning expects to deliver a 19% sales compound annual growth rate from the fourth quarter of 2026 through the fourth quarter of 2030, with earnings growing faster than sales
Optical Communications Drives Results
Optical Communications remained the company’s largest growth driver. Segment sales increased 32% from a year earlier to $2.07 billion, while net income climbed 77% to $438 million. The segment posted record profitability, with net profit after tax equal to 21% of sales
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Enterprise sales rose 65% year over year, supported by demand for Corning’s generative AI-related connectivity products. Sales related to AI data centers nearly doubled during the quarter Carrier sales increased 1% year over year in the quarter, though Weeks said first-half carrier revenue was up about 17% from the first half of 2025, reflecting customer project timing
