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Corning (GLW) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
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Corning (GLW - Free Report) reported $3.48 billion in revenue for the quarter ended June 2023, representing a year-over-year decline of 7.4%. EPS of $0.45 for the same period compares to $0.57 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $3.47 billion, representing a surprise of +0.40%. The company has not delivered EPS surprise, with the consensus EPS estimate being $0.45.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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: $928 million compared to the $833.51 million average estimate based on five analysts. The reported number represents a change of +5.7% year over year.
Net Sales- Telecom (Optical Communications): $1.07 billion versus $1.15 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -18.8% change.
Net sales- All Other (Hemlock and Emerging Growth Businesses): $377 million compared to the $413.82 million average estimate based on five analysts. The reported number represents a change of -9.8% year over year.
Net sales- Specialty Materials: $423 million compared to the $409.97 million average estimate based on five analysts. The reported number represents a change of -12.8% year over year.
Net Sales- Life Sciences: $231 million compared to the $252.94 million average estimate based on five analysts. The reported number represents a change of -26% year over year.
Net Sales- Environmental Technologies: $457 million compared to the $410.38 million average estimate based on five analysts. The reported number represents a change of +28.4% year over year.
Shares of Corning have returned -2.8% over the past month versus the Zacks S&P 500 composite's +4.9% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Corning (GLW) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
Corning (GLW - Free Report) reported $3.48 billion in revenue for the quarter ended June 2023, representing a year-over-year decline of 7.4%. EPS of $0.45 for the same period compares to $0.57 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $3.47 billion, representing a surprise of +0.40%. The company has not delivered EPS surprise, with the consensus EPS estimate being $0.45.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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: $928 million compared to the $833.51 million average estimate based on five analysts. The reported number represents a change of +5.7% year over year.
- Net Sales- Telecom (Optical Communications): $1.07 billion versus $1.15 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -18.8% change.
- Net sales- All Other (Hemlock and Emerging Growth Businesses): $377 million compared to the $413.82 million average estimate based on five analysts. The reported number represents a change of -9.8% year over year.
- Net sales- Specialty Materials: $423 million compared to the $409.97 million average estimate based on five analysts. The reported number represents a change of -12.8% year over year.
- Net Sales- Life Sciences: $231 million compared to the $252.94 million average estimate based on five analysts. The reported number represents a change of -26% year over year.
- Net Sales- Environmental Technologies: $457 million compared to the $410.38 million average estimate based on five analysts. The reported number represents a change of +28.4% year over year.
View all Key Company Metrics for Corning here>>>Shares of Corning have returned -2.8% over the past month versus the Zacks S&P 500 composite's +4.9% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.