Corning Guides Q3 Above View As Q2 Results Top Estimates

(RTTNews) - While reporting financial results for the second quarter on Tuesday, Corning, Inc. (GLW) provided its core earnings and core sales guidance for the third quarter.

For the third quarter, the company expects continued strong performance on its Springboard plan and double-digit sales and earnings growth year-over-year, with core sales of $4.2 billion and core earnings in a range of $0.63 to $0.67 per share.

On average, analysts polled expect the company to report earnings of $0.62 per share on sales of $4.0 billion for the quarter. Analysts' estimates typically exclude special items.

The company said the guidance factors in about $0.01 to $0.02 for the impact of currently enacted tariffs, along with $0.02 to $0.03 of temporarily higher cost as it ramps to meet increased demand for its new Gen AI and U.S.-made solar products.

For the second quarter, the company reported net income attributable to the company of $469 million or $0.54 per share, sharply higher than $104 million or $0.12 per share in the prior-year quarter. Excluding items, adjusted earnings for the quarter was $0.60 per share, compared to $0.47 per share last year.

Net sales for the quarter grew 19 percent to $3.86 billion from $3.25 billion in the same quarter last year. Core sales grew 12 percent.

Analysts expected earnings of $0.57 per share on sales of $3.84 billion for the quarter.

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