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GLW Q1 Earnings Match Estimates, Revenues Beat on Optical Strength
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Key Takeaways
GLW Q1 earnings hit $0.70, matching estimates, while revenue rose 18% to $4.35B and beat consensus.
Corning Optical Communications sales jumped 36% on strong Gen AI infrastructure demand and deals.
GLW Solar revenue surged 80%, with Q2 outlook calling for about $4.6B sales and up to $0.77 EPS.
Corning Incorporated (GLW - Free Report) reported first-quarter 2026 core earnings of 70 cents per share, up 29.6% year over year and in line with the Zacks Consensus Estimate. Revenues of $4.35 billion increased 18.1% from the year-ago quarter and beat the consensus estimate by 1.78%.
The top-line growth was driven by strong demand for Gen AI-related products and a sharp ramp in solar offerings, with Optical Communications and Solar emerging as key contributors. Core operating margin expanded to 20.2%, reflecting improved scale and execution.
Corning Incorporated Price, Consensus and EPS Surprise
Corning’s Optical Communications segment led growth, with first-quarter sales rising 36% year over year to $1.85 billion. Net income surged 93% to $387 million, supported by robust demand for Gen AI infrastructure.
Growth was broad-based across enterprise and carrier networks, both of which posted 36% year-over-year gains. The company also secured additional long-term agreements with hyperscale customers, reinforcing its positioning in AI-driven data center expansion.
Corning’s Solar Business Delivers Rapid Expansion
The Solar segment remained a standout, with revenues jumping 80% year over year to $370 million. This reflects strong momentum in polysilicon and module production as the company scales its solar platform.
Despite the revenue surge, profitability remained modest, with net income of $7 million. Management highlighted continued ramp-up activity and expects further margin improvement as production efficiencies increase and scale benefits materialize in upcoming quarters.
GLW Margins Expand on Improved Cost Structure
Corning delivered notable margin expansion in the quarter. Core operating margin improved 220 basis points year over year to 20.2%, while core gross margin rose to 39.1%.
This improvement reflects a combination of higher volumes, favorable product mix, and operational efficiencies. Core operating income increased to $876 million from $661 million a year ago, highlighting strong operating leverage as revenues scaled.
Corning’s Glass and Automotive Segments Show Stability
The Glass Innovations segment generated $1.42 billion in revenues, up 1% year over year, with net income rising 2% to $324 million. Demand for premium Gorilla Glass products remained resilient, and the company continues to see opportunities in advanced optics tied to semiconductor growth.
Meanwhile, Automotive revenues declined 1% year over year to $437 million, outperforming a broader market decline. Net income rose 3% to $70 million, supported by strength in Europe and India, offsetting weakness in North America.
GLW Maintains Momentum Across Emerging Businesses
Life Sciences and Emerging Growth Businesses reported flat revenues of $272 million year over year. The segment posted a net loss of $24 million, though results improved by $6 million compared with the prior year.
The segment continues to absorb costs tied to emerging growth initiatives, which are expected to support long-term expansion. At the same time, management emphasized continued investment in innovation and commercialization across these platforms.
Corning Provides Upbeat Second-Quarter Outlook
For the second quarter of 2026, Corning expects core sales of approximately $4.6 billion and core earnings in the range of 73-77 cents per share. This implies continued year-over-year growth of about 14% in sales and roughly 25% in earnings.
The outlook incorporates an estimated $30 million expense impact from a planned maintenance shutdown at its solar wafer facility. Despite this temporary headwind, management remains confident in sustained momentum driven by AI-related demand and continued solar expansion.
Arista Networks Inc. (ANET - Free Report) is scheduled to release first-quarter 2026 earnings on May 5. The Zacks Consensus Estimate for earnings is pegged at 81 cents per share, suggesting a growth of 24.6% from the year-ago reported figure.
Arista has a long-term earnings growth expectation of 17.9%. Arista delivered an average earnings surprise of 9% in the last four reported quarters.
Akamai Technologies, Inc. (AKAM - Free Report) is slated to release first-quarter 2026 earnings on May 7. The Zacks Consensus Estimate for earnings is pegged at $1.61 per share, indicating a 5.3% decline from the year-ago reported figure.
Akamai has a long-term earnings growth expectation of 7%. Akamai delivered an average earnings surprise of 9.4% in the last four reported quarters.
Pinterest, Inc. (PINS - Free Report) is set to release first-quarter 2026 earnings on May 4. The Zacks Consensus Estimate for earnings is pegged at 22 cents per share, implying a fall of 4.3% from the year-ago reported figure.
Pinterest has a long-term earnings growth expectation of 24.5%. Pinterest delivered an average negative earnings surprise of 3.6% in the last four reported quarters.
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GLW Q1 Earnings Match Estimates, Revenues Beat on Optical Strength
Key Takeaways
Corning Incorporated (GLW - Free Report) reported first-quarter 2026 core earnings of 70 cents per share, up 29.6% year over year and in line with the Zacks Consensus Estimate. Revenues of $4.35 billion increased 18.1% from the year-ago quarter and beat the consensus estimate by 1.78%.
The top-line growth was driven by strong demand for Gen AI-related products and a sharp ramp in solar offerings, with Optical Communications and Solar emerging as key contributors. Core operating margin expanded to 20.2%, reflecting improved scale and execution.
Corning Incorporated Price, Consensus and EPS Surprise
Corning Incorporated price-consensus-eps-surprise-chart | Corning Incorporated Quote
GLW Sees Strong Growth in Optical Communications
Corning’s Optical Communications segment led growth, with first-quarter sales rising 36% year over year to $1.85 billion. Net income surged 93% to $387 million, supported by robust demand for Gen AI infrastructure.
Growth was broad-based across enterprise and carrier networks, both of which posted 36% year-over-year gains. The company also secured additional long-term agreements with hyperscale customers, reinforcing its positioning in AI-driven data center expansion.
Corning’s Solar Business Delivers Rapid Expansion
The Solar segment remained a standout, with revenues jumping 80% year over year to $370 million. This reflects strong momentum in polysilicon and module production as the company scales its solar platform.
Despite the revenue surge, profitability remained modest, with net income of $7 million. Management highlighted continued ramp-up activity and expects further margin improvement as production efficiencies increase and scale benefits materialize in upcoming quarters.
GLW Margins Expand on Improved Cost Structure
Corning delivered notable margin expansion in the quarter. Core operating margin improved 220 basis points year over year to 20.2%, while core gross margin rose to 39.1%.
This improvement reflects a combination of higher volumes, favorable product mix, and operational efficiencies. Core operating income increased to $876 million from $661 million a year ago, highlighting strong operating leverage as revenues scaled.
Corning’s Glass and Automotive Segments Show Stability
The Glass Innovations segment generated $1.42 billion in revenues, up 1% year over year, with net income rising 2% to $324 million. Demand for premium Gorilla Glass products remained resilient, and the company continues to see opportunities in advanced optics tied to semiconductor growth.
Meanwhile, Automotive revenues declined 1% year over year to $437 million, outperforming a broader market decline. Net income rose 3% to $70 million, supported by strength in Europe and India, offsetting weakness in North America.
GLW Maintains Momentum Across Emerging Businesses
Life Sciences and Emerging Growth Businesses reported flat revenues of $272 million year over year. The segment posted a net loss of $24 million, though results improved by $6 million compared with the prior year.
The segment continues to absorb costs tied to emerging growth initiatives, which are expected to support long-term expansion. At the same time, management emphasized continued investment in innovation and commercialization across these platforms.
Corning Provides Upbeat Second-Quarter Outlook
For the second quarter of 2026, Corning expects core sales of approximately $4.6 billion and core earnings in the range of 73-77 cents per share. This implies continued year-over-year growth of about 14% in sales and roughly 25% in earnings.
The outlook incorporates an estimated $30 million expense impact from a planned maintenance shutdown at its solar wafer facility. Despite this temporary headwind, management remains confident in sustained momentum driven by AI-related demand and continued solar expansion.
GLW’s Zacks Rank
Corning currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Upcoming Releases
Arista Networks Inc. (ANET - Free Report) is scheduled to release first-quarter 2026 earnings on May 5. The Zacks Consensus Estimate for earnings is pegged at 81 cents per share, suggesting a growth of 24.6% from the year-ago reported figure.
Arista has a long-term earnings growth expectation of 17.9%. Arista delivered an average earnings surprise of 9% in the last four reported quarters.
Akamai Technologies, Inc. (AKAM - Free Report) is slated to release first-quarter 2026 earnings on May 7. The Zacks Consensus Estimate for earnings is pegged at $1.61 per share, indicating a 5.3% decline from the year-ago reported figure.
Akamai has a long-term earnings growth expectation of 7%. Akamai delivered an average earnings surprise of 9.4% in the last four reported quarters.
Pinterest, Inc. (PINS - Free Report) is set to release first-quarter 2026 earnings on May 4. The Zacks Consensus Estimate for earnings is pegged at 22 cents per share, implying a fall of 4.3% from the year-ago reported figure.
Pinterest has a long-term earnings growth expectation of 24.5%. Pinterest delivered an average negative earnings surprise of 3.6% in the last four reported quarters.