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Mar 31, 2020
Corning Q1 2020 Earnings Report
Delivered solid results while responding to COVID-19 pandemic and committed to meeting customer needs and maintaining strong balance sheet.
Key Takeaways
Corning Incorporated reported first-quarter 2020 results with GAAP sales of $2.4 billion and a GAAP net loss of $96 million, or $(0.16) per share. Core sales were $2.5 billion and core net income was $177 million, or $0.20 per share. The company is withdrawing its full-year 2020 guidance due to economic uncertainty and disruption created by COVID-19.
Prioritized the safety of employees, workplaces, and communities.
Delivered for customers and contributed to public-health and economic-relief efforts.
Businesses held up well, as they effectively executed strategy despite the growing impact of COVID-19.
Adjusting operating plan to reduce costs and capital spending.
Revenue by Segment
Forward Guidance
Given the economic uncertainty and disruption created by COVID-19, the company is withdrawing its full-year 2020 guidance.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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