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Can Solid Revenue Growth Buoy Corning (GLW) Q2 Earnings?

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Corning Incorporated, Inc. (GLW - Free Report) is scheduled to report second-quarter 2022 results on Jul 26, before the market opens. In the last reported quarter, the company delivered an earnings surprise of 10.2%. It pulled off a trailing four-quarter earnings surprise of 4.1%, on average.

The New York based communications components provider is expected to have recorded year-over-year higher revenues, driven by strong sales across its specialty materials, life sciences and display technologies.

Factors at Play

Corning is expected to have benefited from the letter of intent signed with 5E Advanced Materials to get supply of boron specialty materials. These materials will be used in the manufacturing of Corning products. The Zacks Consensus Estimate for Specialty Materials is pegged at $517 million. The figure indicates a rise of 7% from the year-ago quarter’s reported figure.

The consensus estimate for Life Sciences stands at $324 million, which implies an increase from $312 million reported a year ago. The consensus estimate for Display Technologies stands at $943 million, which implies an increase from $939 million reported a year ago, while that for Optical Communications is $1,253 million, up from $1,075 million in the year-earlier quarter. However, the consensus estimate for Environmental Technologies is slightly down to $404 million from $407 million reported a year ago.

For the June quarter, the Zacks Consensus Estimate for total revenues is pegged at $3,784 million, which indicates growth of 8% from the year-ago quarter’s reported figure. The consensus estimate for adjusted earnings per share is pegged at 57 cents, suggesting an increase of 7.5% year over year.

What Our Model Says

Our proven model doesn’t conclusively predict an earnings beat for Corning this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Earnings ESP: Corning’s Earnings ESP, which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate, is -0.89%, with the former pegged at 56 cents and the latter at 57 cents.

Corning Incorporated Price and EPS Surprise

Corning Incorporated Price and EPS Surprise

Corning Incorporated price-eps-surprise | Corning Incorporated Quote

Zacks Rank: Corning currently carries a Zacks Rank #4 (Sell).

Stocks to Consider

Here are some companies that you may want to consider as our model shows that these have the right combination of elements to post an earnings beat this quarter:

Baidu, Inc. (BIDU - Free Report) is slated to release second-quarter 2022 results on Aug 11. Baidu has an Earnings ESP of +13.78% and a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.

Keysight Technologies, Inc. (KEYS - Free Report) is scheduled to release third-fiscal-quarter 2022 results on Aug 17. Keysight Technologies has an Earnings ESP of +1.23% and a Zacks Rank #2.

AutoNation, Inc. (AN - Free Report) has an Earnings ESP of +6.40% and a Zacks Rank #2. AutoNation is set to report second-quarter 2022 results on Jul 21.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

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