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Corning (GLW) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended December 2023, Corning (GLW - Free Report) reported revenue of $3.27 billion, down 9.9% over the same period last year. EPS came in at $0.39, compared to $0.47 in the year-ago quarter.
The reported revenue represents a surprise of +0.49% over the Zacks Consensus Estimate of $3.26 billion. With the consensus EPS estimate being $0.40, the EPS surprise was -2.50%.
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.
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: $869 million versus the five-analyst average estimate of $843.29 million. The reported number represents a year-over-year change of +11%.
Net Sales- Optical Communications: $903 million compared to the $837.50 million average estimate based on five analysts. The reported number represents a change of -24.4% year over year.
Net Sales- Environmental Technologies: $429 million compared to the $418.80 million average estimate based on five analysts. The reported number represents a change of +8.9% year over year.
Net Sales- Specialty Materials: $473 million compared to the $522.49 million average estimate based on five analysts. The reported number represents a change of -6.3% year over year.
Net Sales- Life Sciences: $242 million versus $221.90 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -17.7% change.
Net Sales- Hemlock and Emerging Growth Businesses: $356 million compared to the $358.20 million average estimate based on four analysts. The reported number represents a change of -22.9% year over year.
Segment Net Income- Optical Communications: $88 million versus the three-analyst average estimate of $92.59 million.
Segment Net Income- Display Technologies: $232 million compared to the $225.41 million average estimate based on three analysts.
Segment Net Income- Life Sciences: $17 million compared to the $11.05 million average estimate based on three analysts.
Segment Net Income- Environmental Technologies: $98 million versus the three-analyst average estimate of $82.93 million.
Segment Net Income- Specialty Materials: $58 million versus $71.52 million estimated by three analysts on average.
Segment Net Income- Hemlock and Emerging Growth Businesses: -$19 million compared to the -$2.05 million average estimate based on two analysts.
Shares of Corning have returned +2.3% over the past month versus the Zacks S&P 500 composite's +3.4% 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) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended December 2023, Corning (GLW - Free Report) reported revenue of $3.27 billion, down 9.9% over the same period last year. EPS came in at $0.39, compared to $0.47 in the year-ago quarter.
The reported revenue represents a surprise of +0.49% over the Zacks Consensus Estimate of $3.26 billion. With the consensus EPS estimate being $0.40, the EPS surprise was -2.50%.
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.
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: $869 million versus the five-analyst average estimate of $843.29 million. The reported number represents a year-over-year change of +11%.
- Net Sales- Optical Communications: $903 million compared to the $837.50 million average estimate based on five analysts. The reported number represents a change of -24.4% year over year.
- Net Sales- Environmental Technologies: $429 million compared to the $418.80 million average estimate based on five analysts. The reported number represents a change of +8.9% year over year.
- Net Sales- Specialty Materials: $473 million compared to the $522.49 million average estimate based on five analysts. The reported number represents a change of -6.3% year over year.
- Net Sales- Life Sciences: $242 million versus $221.90 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -17.7% change.
- Net Sales- Hemlock and Emerging Growth Businesses: $356 million compared to the $358.20 million average estimate based on four analysts. The reported number represents a change of -22.9% year over year.
- Segment Net Income- Optical Communications: $88 million versus the three-analyst average estimate of $92.59 million.
- Segment Net Income- Display Technologies: $232 million compared to the $225.41 million average estimate based on three analysts.
- Segment Net Income- Life Sciences: $17 million compared to the $11.05 million average estimate based on three analysts.
- Segment Net Income- Environmental Technologies: $98 million versus the three-analyst average estimate of $82.93 million.
- Segment Net Income- Specialty Materials: $58 million versus $71.52 million estimated by three analysts on average.
- Segment Net Income- Hemlock and Emerging Growth Businesses: -$19 million compared to the -$2.05 million average estimate based on two analysts.
View all Key Company Metrics for Corning here>>>Shares of Corning have returned +2.3% over the past month versus the Zacks S&P 500 composite's +3.4% 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.