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Dec 31, 2020
Corning Q4 2020 Earnings Report
Corning reported strong Q4 2020 results with growth in all segments.
Key Takeaways
Corning Incorporated reported outstanding fourth-quarter results, with each of its businesses growing sales and profits year over year. The company achieved 17% year-over-year core sales growth in Q4 and expanded margins in the second half of the year. Free cash flow for the quarter was $464 million, contributing to a total of $948 million for the full year. Corning expects continued momentum across all businesses in 2021.
GAAP sales reached $3.4 billion with an EPS of $0.28.
Core sales were $3.3 billion, reflecting an 11% sequential increase and a 17% year-over-year rise.
Core EPS stood at $0.52, marking a 21% sequential increase and a 13% year-over-year increase.
The company's strong execution across its focused portfolio led to sales and net income growth in all segments.
Revenue by Segment
Forward Guidance
Corning anticipates accelerated year-over-year growth in Q1 2021, projecting core sales between $3.0 billion and $3.2 billion, and EPS between $0.40 and $0.44.
Positive Outlook
- Expects year-over-year growth to accelerate in Q1 2021.
- Focus on operational excellence.
- Focus on cash-flow generation.
- Focus on prudent capital allocation.
- Expects continued momentum across all businesses in 2021.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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