Corning Q2 core sales beat estimates on optical communications strength

Corning Incorporated

28/07/2026 12:13

Overview
U.S. materials science firm's Q2 core sales rose 17%, beating analyst expectations
Core EPS for Q2 increased 30%, also beating analyst expectations
Company expects Q3 core sales and EPS to grow double digits yr/yr

Outlook
Corning expects Q3 core sales of $4.9 bln to $5 bln
Company sees Q3 core EPS of $0.85 to $0.89
Corning expects improved Solar segment profitability in Q3 as ramp continues

Result Drivers
OPTICAL COMMUNICATIONS - Segment sales grew 32%, led by a 65% increase in Enterprise Networks and faster growth in Gen AI product sales
SOLAR SEGMENT - Sales rose 90% after facility maintenance and upgrades; management expects profitability to improve in Q3
CUSTOMER PARTNERSHIPS - New long-term agreements with Amazon and NVIDIA supported segment growth and capacity expansion

Company press release: ID:nBw6r16xma

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Sales
 
$4.51 bln
 
Q2 Core Sales
Beat
$4.74 bln
$4.61 bln (9 Analysts)
Q2 Core EPS
Beat
$0.78
$0.76 (12 Analysts)
Q2 EPS
 
$0.64
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy", 5 "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 $226.00, about 57.6% above its July 27 closing price of $143.36
The stock recently traded at 38 times the next 12-month earnings vs. a P/E of 41 three months ago

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July 27 - Applied Digital beats quarterly revenue estimates on surging AI infrastructure demand

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(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.)