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Sep 30, 2020
Corning Q3 2020 Earnings Report
Sales grew sequentially, margins expanded, and free cash flow exceeded expectations due to innovation adoption and strong execution.
Key Takeaways
Corning Incorporated reported strong financial results for Q3 2020, with both GAAP and core sales reaching $3.0 billion. Core sales increased 16% sequentially, driven by Environmental Technologies and Specialty Materials. The company's GAAP EPS was $0.48, and core EPS was $0.43. Free cash flow for the quarter was $518 million, and the cash balance grew to $2.5 billion.
GAAP and core sales were $3.0 billion.
GAAP EPS was $0.48 and core EPS was $0.43.
Core operating margin expanded to 18.3%.
Free cash flow for the third quarter was $518 million.
Revenue by Segment
Forward Guidance
Corning expects another solid quarter to end the year. The company's execution and market leadership position it to emerge from the current uncertainty even stronger. In the near term, they measure success by their ability to outperform markets, innovation progress, and balance sheet.
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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