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Corning
🇺🇸 NYSE:GLW
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•
Dec 31, 2024

Corning Q4 2024 Earnings Report

Corning's Q4 2024 earnings exceeded guidance, with significant growth in core sales and EPS, driven by strong adoption of new products and successful price increases.

Key Takeaways

Corning reported strong Q4 and full-year 2024 results, exceeding guidance with record core sales of $3.9 billion, up 18% year-over-year, and core EPS of $0.57, up 46% year-over-year. The company's performance was driven by strong adoption of new products for Gen AI and successful implementation of double-digit price increases in Display Technologies.

Core sales grew 18% year-over-year to $3.9 billion, and core EPS grew 46% to $0.57.

Core operating margin expanded 220 basis points year-over-year to 18.5%.

Optical Communications' Enterprise business experienced 93% year-over-year growth due to strong adoption of new optical-connectivity products.

Display Technologies successfully implemented price increases to maintain stable U.S. dollar net income.

Total Revenue
$3.87B
Previous year: $3.27B
+18.4%
EPS
$0.57
Previous year: $0.39
+46.2%
Core Operating Margin
18.5%
Gross Profit
$1.2B
Previous year: $911M
+31.4%
Cash and Equivalents
$1.77B
Previous year: $1.78B
-0.6%
Free Cash Flow
$409M
Previous year: $487M
-16.0%
Total Assets
$27.7B
Previous year: $28.5B
-2.7%

Corning

Corning

Corning Revenue by Segment

Forward Guidance

For the first quarter of 2025, Corning expects core sales to grow approximately 10% year-over-year to $3.6 billion, with core EPS growing approximately 30% to a range of $0.48 to $0.52.

Positive Outlook

  • Core sales are expected to grow approximately 10% year-over-year.
  • Core EPS is projected to increase by approximately 30%.
  • The company anticipates continued strong adoption of new products.
  • Management is confident in achieving its 'Springboard' plan goals.
  • Display Technologies expects to deliver segment net income of $900 million to $950 million in 2025 and to maintain net income margin of 25%.

Challenges Ahead

  • Global economic trends, competition and geopolitical risks
  • Changes in macroeconomic and market conditions and market volatility
  • Possible disruption in commercial activities or our supply chain due to terrorist activity, cyber-attack, armed conflict, political or financial instability, natural disasters, international trade disputes or major health concerns
  • Loss of intellectual property due to theft, cyber-attack, or disruption to our information technology infrastructure
  • Disruption to Corning’s, our suppliers’ and manufacturers’ supply chain, equipment, facilities, IT systems or operations

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

View Corning