GLW

EX-99

2 glw-20261027xex99xq32026.htm

EX-99

Document

Exhibit 99

News Release

FOR RELEASE – Oct. 27, 2026

Corning Delivers Outstanding Third-Quarter Results(1)

CORNING, N.Y. — Corning Incorporated (NYSE: GLW) today announced third-quarter 2026 results that exceeded guidance and provided its outlook for fourth-quarter 2026.

News Summary:

•Corning grew third-quarter core sales 19% year over year to $5.08 billion – the strongest growth since the launch of Springboard – and grew core EPS nearly twice as fast to $0.91.

•Optical Communications continued to drive powerful growth, with Q3 sales up 44% to $2.38 billion; Enterprise Networks grew sales 84%, with Gen AI product sales growing more than 100% year over year.

•Solar grew sales 37% year over year, as production continued to ramp, albeit at a slower pace than anticipated. As productivity continues to improve, so will output and profitability. Additionally, in Q3, U.S. trade action under Section 232 of the Trade Expansion Act of 1962 improves the overall pricing environment and demand for U.S.-made solar products. Overall, the company is making solid progress building a more than $3 billion Solar revenue stream.

•Glass Innovations continued to successfully execute its “More Corning” content strategy, driving adoption of Corning innovations and outperforming TV unit, notebook, and smartphone markets, which have been impacted by memory pricing.

•In the fourth quarter, management expects 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.

•Corning’s strong third-quarter results and fourth-quarter outlook demonstrate that the acceleration of growth outlined in the company’s “20-30-40” Springboard Plan has begun.

•In the third quarter, Corning secured four long-term, multibillion-dollar customer agreements, including with Verizon and AT&T. The company’s growing number of major customer agreements underpins the growth outlined in Springboard.

(1)Third-quarter GAAP results: GAAP sales were $4.86 billion, GAAP gross margin was 37.3%, GAAP operating margin was 18.8%, GAAP EPS was $0.78, and operating cash flow was $1.06 billion.

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Corning Reports Third-Quarter 2026 Financial Results

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Wendell P. Weeks, chairman, chief executive officer, and president, said, “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.”

Weeks continued, “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, said, “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.”

Schlesinger continued, “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.”

Third-Quarter 2026 Financial Highlights:

•GAAP sales were $4.86 billion, up 18% year over year. Core sales were $5.08 billion, up 19% year over year.

•GAAP EPS was $0.78, up 56% year over year. Core EPS was $0.91, up 36% year over year. The difference between GAAP and core EPS principally reflects adjustments for hedged exposures, along with discrete tax items. A complete quantitative reconciliation of these and other reconciling items appears in the tables accompanying this release.

•GAAP gross margin was 37.3%. Core gross margin expanded 150 basis points year over year to 40.5%.

•GAAP operating margin was 18.8%. Core operating margin expanded 310 basis points year over year to 22.7%.

•GAAP operating cash flow was $1.06 billion, and adjusted free cash flow was $661 million.

Fourth-Quarter 2026 Ou

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EX-99.1

2 glw-20260328xex991xq12026.htm

EX-99.1

Document

Exhibit 99.1

News Release

FOR RELEASE — April 28, 2026

Corning Announces Strong First-Quarter 2026 Financial Results (1)

CORNING, N.Y. — Corning Incorporated (NYSE: GLW) today announced its first-quarter 2026 results and provided its outlook for second-quarter 2026.

News Summary:

•First-quarter core sales grew 18% to $4.35 billion, and core EPS grew 30% to $0.70 versus Q1-2025.

•Robust demand for Gen AI products and the ramp of new solar products drove Q1 growth.

•Optical Communications sales grew 36%, and Solar sales were up 80% year over year.

•Two additional hyperscale customers entered into large, long-term agreements with Corning.

•Deals are similar in size and duration to the recently announced multiyear, up-to-$6 billion agreement with Meta.

•Agreements highlight customers’ commitment to develop, innovate, and manufacture the critical technologies that power next-generation AI data centers in the United States.

•Corning plans to upgrade and extend its Springboard plan through 2030 and introduce a new Market-Access Platform at the company’s May 6 NYC investor event.

•Optical Communications’ new Photonics Market-Access Platform will serve Gen AI OEM customers.

•For the second quarter, management expects to grow core sales about 14% year over year to approximately $4.6 billion and core EPS about 25% year over year to a range of $0.73-$0.77.

•Second-quarter guidance includes an extended maintenance shutdown at Corning’s solar wafer facility, including the transition to a permanent power system while the company repairs, upgrades, and modifies production equipment to increase throughput in future quarters. This will cause an additional $30 million of expense in Q2 versus Q1 and is included in guidance.

(1) First-quarter GAAP results: Sales were $4.14 billion, gross margin was 36.9%, operating margin was 15.4%, EPS was $0.43, and operating cash flow was $362 million.

Wendell P. Weeks, chairman, chief executive officer, and president, said, “Our strong first-quarter results continued the powerful trajectory of our Springboard plan. Versus Springboard’s Q4-2023 starting point, we grew core sales 33% and core EPS 79%, and we expanded core operating margin and core ROIC by 390 basis points and 470 basis points, respectively. Additionally, we finalized two more hyperscaler deals similar in size and duration to our recently announced multiyear, up-to-$6 billion agreement with Meta. In total, we have powerful momentum across our Market-Access Platforms.”

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Corning Reports First-Quarter 2026 Financial Results

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Weeks continued, “Based on strong demand for our innovations, we plan to upgrade and extend our Springboard plan through 2030 at our May 6 investor event. We will introduce our new Photonics Market-Access Platform and explain the underlying technical and demand trends driving our Gen AI product development.”

Ed Schlesinger, executive vice president and chief financial officer, said, “Our first-quarter results show continued excellent performance on our Springboard plan. We delivered our eighth consecutive quarter of year‑over‑year growth, with core sales up 18% led by Optical Communications and our new Solar business, which was up 80%. Our solar ramp continues with our polysilicon business performing above our 20% corporate operating margin target in the first quarter, and our module business is on track to cross over in the second quarter. We continued to enhance the company's financial profile, growing core EPS 30% year over year, while expanding core operating margin 220 basis points, core gross margin 120 basis points, and core ROIC 190 basis points.”

Schlesinger continued, “In the second quarter, we expect to grow core sales about 14% year over year to approximately $4.6 billion and to grow core EPS about 25% year over year to a range of $0.73 to $0.77. We have built into our second-quarter forecast an extended maintenance shutdown at our solar wafer facility, including the transition to a permanent power system while we repair, upgrade, and modify our production equipment to increase throughput in future quarters. This will cause an additional $30 million of expense versus the first quarter.”

First-Quarter 2026 Financial Highlights:

•GAAP sales were $4.14 billion, up 20% year over year. Core sales were $4.35 billion, up 18% year over year.

•GAAP EPS was $0.43, up 139% year over year. Core EPS was $0.70, up 30% year over year. Differences between GAAP and core EPS include constant currency adjustments as well as primarily non-cash items, including acquisition-related costs; discrete tax items and other tax-related adjustments; and restructuring, impairment, and other charges and credits.

•GAAP gross margin was 36.9%. Core gross margin expanded 120 basis points to 39.1%.

•GAAP operating margin was 15.4%. Core operating margin was 20.2%.

•GAAP operating cash flow was $362 million, and adjusted free cash flow was