Corning Delivers Outstanding Third-Quarter Results(1)

Wendell P. Weeks, Chairman, chief executive officer, and president of Corning Incorporated

“We delivered an outstanding third quarter. Year over year, core sales grew 19% to $5.08 billion, and core EPS grew 36% to $0.91. We expanded core gross margin 150 basis points to 40.5%, core operating margin 310 basis points to 22.7%, and core ROIC 330 basis points to 16.7% – with strong adjusted free cash flow of $661 million, while investing more than half a billion in capital expenditures to address demand for our innovations. Our strong results provide excellent proof points of the acceleration of growth outlined in our ‘20-30-40’ Springboard Plan.”

Wendell P. Weeks, Chairman, chief executive officer, and president of Corning Incorporated

“We continue to successfully expand our content within customers’ ecosystems and outperform our underlying markets. For example, in Optical Communications, faster adoption of our innovations helped us double our Gen AI sales year over year in the quarter, outpacing GPU unit growth.”

Ed Schlesinger, Executive vice president and chief financial officer of Corning Incorporated

“When we upgraded Springboard in May, we laid out a path to double our annualized sales run rate from $20 billion to $40 billion by the end of 2030. We also expect to grow earnings faster than sales, with significantly higher ROIC and substantially more free cash flow. To support that growth, we have steadily added capacity, backed by long-term customer agreements that share the cost and risk of expansions. As a result, we have been able to grow adjusted free cash flow to $2.27 billion through the first nine months of 2026 while investing to meet demand.”

Ed Schlesinger, Executive vice president and chief financial officer of Corning Incorporated

“Looking ahead, we expect our outstanding performance to continue. In the fourth quarter, we expect to grow core sales approximately 19% year over year to a range of $5.2 billion to $5.3 billion and grow core EPS approximately 36% year over year to a range of $0.96 to $1.00.”