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Dec 31, 2021
Corning Q4 2021 Earnings Report
Corning delivered year-over-year growth in Q4 2021, with core sales of $3.7 billion and core EPS of $0.54.
Key Takeaways
Corning reported a strong fourth quarter with core sales of $3.7 billion and core EPS of $0.54. Full-year core sales grew 23%, surpassing $14 billion, and full-year core EPS grew 49% to $2.07. The company expects continued growth in the first quarter and anticipates approximately $15 billion in sales for 2022.
Fourth-quarter core sales were $3.7 billion, up 12% year over year.
Fourth-quarter core EPS was $0.54.
Fourth-quarter free cash flow was $425 million.
Display glass pricing is expected to be flat sequentially in the first quarter of 2022 with a tight supply-demand balance.
Forward Guidance
Corning expects strong year-over-year growth to continue in the first quarter, with core sales of $3.5 billion to $3.7 billion and core EPS of $0.48 to $0.53. The company expects approximately $15 billion in 2022 sales and to improve profitability as negotiated price increases in long-term contracts take effect throughout the year.
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