Loading...
•
Jun 30, 2023
Corning Q2 2023 Earnings Report
Reported second-quarter 2023 financial results, showing progress on profitability and cash flow.
Key Takeaways
Corning's second-quarter results reflect progress on the company's plan to improve profitability and cash flow, despite a weak end-market environment. Core gross margin expanded sequentially, and free cash flow improved to $310 million.
GAAP sales were $3.2 billion, up 2% sequentially.
Core sales were $3.5 billion, up 3% sequentially, driven by Display Technologies.
Core operating income increased 16% sequentially.
Free cash flow grew to $310 million.
Corning
Corning
Corning Revenue by Segment
Revenue by Segment
Optical Communications Revenue
CapyFin.comDisplay Technologies Revenue
CapyFin.comSpecialty Materials Revenue
CapyFin.comLife Sciences Revenue
CapyFin.com Forward Guidance
In the third quarter, management expects core sales of approximately $3.5 billion and core EPS to be about the same or slightly better than in the second quarter.
Revenue & Expenses
Visualization of income flow from segment revenue to net income