Corning Q4 2023 Earnings Report
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.
Corning
Corning
Corning 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