Corning Inc Q2 FY2026 Earnings Call

· Earnings call transcript and AI-powered summary

Corning Q2 2026 Earnings Summary

  • Overall Results (YoY vs Q2 2025): Sales grew 17% to $4.74B; Core EPS rose 30% to $0.78; Gross margin expanded 120 bps to 39.6%; Operating margin expanded 190 bps to 20.9%; ROIC expanded 180 bps to 14.9%; Free cash flow reached $1.42B.
  • Progress vs Springboard Start (Q4 2023): Sales up 45%; Operating margin +460 bps; EPS doubled (+100%); ROIC +610 bps.

Segment Performance (YoY unless noted)

  • Optical Communications: Sales $2.07B (+32%); Net income $438M (+77%, 21% margin). Enterprise sales +65% (AI data center portion nearly doubled); Carrier +1%.
  • Glass Innovations: Sales $1.46B (+1%); Net income $354M (+9%). Gorilla Glass outperforming handheld market despite memory price headwinds.
  • Automotive: Sales $471M (+2%); Net income $82M (+4%). Outperformed global auto market (-2%) via higher content per vehicle; Diesel +3%.
  • Solar: Sales $438M (+90%); Net loss $7M (impacted by $30M extended maintenance/upgrade shutdown). Demand strong; profitability expected to improve in Q3.
  • Life Sciences & Emerging: Sales +8% sequentially; Net income +13% sequentially.

Springboard 20-30-40 Plan & Strategy

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Operator : Welcome to the Corning Incorporated Second Quarter 2026 Earnings Call. Please be advised that today's conference is being recorded. It is my pleasure to introduce to you, Chris Keenan, Director of Investor Relations. Christopher Keenan : Thank you, Carmen. Good morning, and welcome to Corning's Second Quarter 2026 Earnings Call. With me today are Wendell Weeks, Chairman, Chief Executive Officer and President; and Ed Schlesinger, Executive Vice President and Chief Financial Officer. I'd like to remind you that today's remarks contain forward-looking statements that fall within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve risks, uncertainties and other factors that could cause actual results to differ materially. These factors are detailed in the company's financial reports. You should also note that we will be discussing our consolidated results using core performance measures, unless we specifically indicate our comments relate to GAAP data. Our core performance measures are non-GAAP measures used by management to analyze the business. For the second quarter, differences between GAAP and core EPS principally reflects adjustments for hedged exposures along with largely noncash discrete tax items and restructuring and impairment charges. A reconciliation of core results to the comparable GAAP value can be found in the Investor Relations section of our website at corning.com. You may also access core results on our web

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