Corning Incorporated

GLW
Sector

Technology

Industry

Electronic Components

Market Cap

$39.82B

Employees

49.8K

Company Overview

Corning Incorporated is a global materials science company specializing in glass, ceramics, and optical physics. They develop and manufacture products for various industries, including optical communications, mobile consumer electronics, and life sciences. Corning holds a leading market position in many of its product categories, with competitive advantages in materials science, manufacturing expertise, and intellectual property. They have a significant global presence with manufacturing facilities in 15 countries.

Filing Highlights

Key insights and themes extracted from this filing

10 Themes

Financial Performance

3 Insights

Net sales increased by 7% year-over-year to $3.391 billion, primarily driven by a $328 million increase in telecommunication product sales, while environmental substrate, filter products, and polycrystalline silicon product sales declined.

Gross margin increased by 13% year-over-year to $1.137 billion, and as a percentage of sales by 2 percentage points, driven by higher net sales and pricing actions.

Net loss attributable to Corning Incorporated was $(117) million, primarily due to losses on translated earnings contracts and non-cash foreign currency translation losses.

Growth & Strategy

3 Insights

Management Execution

3 Insights

Risk Factors

3 Insights

Competitive Position

3 Insights

Operational Efficiency

3 Insights

Innovation & Technology

3 Insights

Capital Allocation

3 Insights

ESG initiatives

1 Insight

Market Environment

3 Insights