Q2 2026 Corning Inc Earnings Call Transcript
Key Points
- Corning Inc (GLW) reported a 17% year-over-year sales growth in Q2 2026, reaching $4.74 billion.
- EPS increased by 30% to $0.78, with gross margin expanding by 120 basis points to 39.6%.
- Optical Communications sales grew 32% year-over-year, with net income increasing by 77% to $438 million.
- The company has secured significant long-term agreements with major tech companies like Apple, Meta, NVIDIA, and Amazon.
- Corning Inc (GLW) plans to grow its annualized sales run rate to $20 billion by the end of 2026, $30 billion by the end of 2028, and $40 billion by the end of 2030, with a projected sales CAGR of 19% from Q4 2026 to Q4 2030.
- The handheld market is expected to be impacted by memory prices, with units projected to be down by a mid-teens percentage for the full year.
- The automotive market remains relatively muted, with global vehicle sales down 2% year-over-year.
- The solar segment reported a net loss of $7 million in Q2 2026, although improvements are expected in Q3.
- There is uncertainty regarding the timing and adoption of optical scale-up in AI factories, which could impact growth projections.
- Corning Inc (GLW) is facing challenges in predicting the exact timing and penetration of new optical technologies, which could affect future revenue streams.
Welcome to the Corning Incorporated second-quarter 2026 earnings call. (Operator Instructions) Please be advised that today's conference is being recorded.
It is my pleasure to introduce to you, Chris Keenan, Director of Investor Relations.
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
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