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Dec 31, 2023
Corning Q4 2023 Earnings Report
Corning's Q4 2023 financial results reflected progress in restoring productivity, improving margins, and strong cash generation despite lower sales.
Key Takeaways
Corning Incorporated reported fourth-quarter 2023 results with improved GAAP and core gross margins, and significant improvement in cash generation. The company anticipates first-quarter core sales of approximately $3.1 billion and core EPS in the range of $0.32 to $0.38.
GAAP EPS was $(0.05), and core EPS was $0.39.
GAAP gross margin improved by 350 basis points year over year, and core gross margin improved by 330 basis points year over year.
Adjusted free cash flow improved to $487 million.
Company has an opportunity to add more than $3 billion in annualized sales as markets normalize.
Revenue by Segment
Forward Guidance
Management expects first-quarter core sales of approximately $3.1 billion and core EPS in the range of $0.32 to $0.38 and anticipates the first quarter to be the low quarter of the year.
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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