Corning Q1 core sales rise 18%, beat estimates on AI and solar demand

Corning Incorporated

28/04/2026 12:11

Overview

U.S. materials science firm's Q1 core sales rose 18%, beating analyst expectations

Core EPS for Q1 climbed 30% and beat analyst expectations

Growth driven by demand for Gen AI and solar products, plus new hyperscale customer deals

Outlook

Corning expects Q2 core sales of about $4.6 bln, up 14% year over year

Company sees Q2 core EPS rising about 25% year over year to $0.73-$0.77

Q2 outlook includes $30 mln extra expense for solar facility maintenance and upgrades

Result Drivers

GEN AI DEMAND - Co said robust demand for Gen AI products drove Q1 growth

OPTICAL COMMUNICATIONS - Optical Communications sales grew 36% year over year, contributing to overall revenue growth

HYPERSCALE CUSTOMER DEALS - Two additional hyperscale customers entered into large, long-term agreements with Corning

Company press release: ID:nBwc2sp6ja

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Sales
$4.14 bln
Q1 Core Sales
Beat
$4.35 bln
$4.26 bln (11 Analysts)
Q1 Core EPS
Beat
$0.70
$0.69 (11 Analysts)
Q1 EPS
$0.43


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "strong buy" or "buy", 6 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the electronic equipment & parts peer group is "buy"

Wall Street's median 12-month price target for Corning Inc is $140.00, about 16.7% below its April 27 closing price of $168.01

The stock recently traded at 50 times the next 12-month earnings vs. a P/E of 29 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)