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Corning (GLW) Reports Q4 Earnings: What Key Metrics Have to Say
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For the quarter ended December 2022, Corning (GLW - Free Report) reported revenue of $3.63 billion, down 2.2% over the same period last year. EPS came in at $0.47, compared to $0.54 in the year-ago quarter.
The reported revenue represents a surprise of +2.27% over the Zacks Consensus Estimate of $3.55 billion. With the consensus EPS estimate being $0.44, the EPS surprise was +6.82%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Corning performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net sales-Display technologies: $783 million versus the four-analyst average estimate of $628.20 million. The reported number represents a year-over-year change of -16.9%.
Net Sales-Telecom (Optical Communications): $1.20 billion compared to the $1.27 billion average estimate based on four analysts. The reported number represents a change of -0.9% year over year.
Net sales- All Other (Hemlock and Emerging Growth Businesses): $462 million versus the four-analyst average estimate of $417.58 million. The reported number represents a year-over-year change of +22.2%.
Net sales-Specialty Materials: $505 million compared to the $484.10 million average estimate based on four analysts. The reported number represents a change of -2.5% year over year.
Net Sales-Life Sciences: $294 million compared to the $315.39 million average estimate based on four analysts. The reported number represents a change of -7.3% year over year.
Net Sales-Environmental Technologies: $394 million versus the four-analyst average estimate of $408.45 million. The reported number represents a year-over-year change of +11.6%.
Shares of Corning have returned +13.9% over the past month versus the Zacks S&P 500 composite's +4.8% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Corning (GLW) Reports Q4 Earnings: What Key Metrics Have to Say
For the quarter ended December 2022, Corning (GLW - Free Report) reported revenue of $3.63 billion, down 2.2% over the same period last year. EPS came in at $0.47, compared to $0.54 in the year-ago quarter.
The reported revenue represents a surprise of +2.27% over the Zacks Consensus Estimate of $3.55 billion. With the consensus EPS estimate being $0.44, the EPS surprise was +6.82%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Corning performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
View all Key Company Metrics for Corning here>>>
Shares of Corning have returned +13.9% over the past month versus the Zacks S&P 500 composite's +4.8% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.