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- Nov 26, 2026 · Thanksgiving Day
Equity
Corning Incorporated (GLW) perpetual futures
GLW perpetual futures on 23 crypto exchanges – live perp price vs the stock, funding rate, open interest and where to trade GLWUSDT.
Corning Incorporated supplies optical fiber and cable, display glass, specialty materials, automotive components, and life sciences labware globally.
$112.21-5.0%NYSE open
Price chart
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TradingView symbol NYSE:GLW
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Trading data
Perpetual market activity
24/24 live markets
Trading data
Perpetual market activity
Venues
23
Live markets
24/24
24h volume
$30.3MCoverage: 20/24 marketsExchange-reported volume: $53.7M
Open interest
$10MCoverage: 20/24 markets
Best liquidity
$2.9M
LBank
Tightest spread
+2.7 bps
MEXC
Highest volume
$11.6M
Binance
Settlement mix
USDT · 17/24
Perp/spot vol.
0.04x
Spot volume $823.2M
OI / float
+0.01%
Float $88.7B
Spot performance
1D-0.75%
5D+9.90%
1M-18.82%
6M-39.69%
YTD+36.55%
1Y+34.32%
Venue matrix
24 markets
Some venue links are sponsored. We may receive a commission, and eligible users may occasionally receive trading-fee discounts, at no additional cost to you.
| Trade | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
 Binance | Trade | GLW/USDT | Trading | $112.18 | 0.0% APR 0.000% every 8h | +5.4 bps | $945.1K | $11.6M | $4.4M | USDT | - | |
 OKX | Trade | GLW/USDT | Trading | $112.10 | -13.0% APR -0.012% every 8h | +3.6 bps | $138.6K | $3M | $1.3M | USDT | 20x | |
 Bitget | Trade | GLW/USDT | Trading | $112.18 | +9.4% APR +0.00860% every 8h | +3.6 bps | $823.2K | $2.5M | $1.2M | USDT | 20x | |
 Gate.io | Trade | GLW/USDT | Trading | $112.03 | 0.0% APR 0.000% every 8h | +16.1 bps | $118.1K | $1.8M | $516K | USDT | 50x | |
 KuCoin | Trade | GLW/USDT | Trading | $112.17 | 0.0% APR 0.000% every 8h | +21.5 bps | $35.1K | $922.9K | $266K | USDT | 20x | |
 Bitunix | Trade | GLW/USDT | Trading | $112.17 | +5.9% APR +0.00539% every 8h | +16.1 bps | $2.2M | $348.4K | $30.4K | USDT | 20x | |
 Bybit | Trade | GLW/USDT | Trading | $112.06 | 0.0% APR 0.000% every 8h | +19.7 bps | $23.2K | $267.8K | $515.1K | USDT | 25x | |
 GRVT | Trade | GLW/USDT | Trading | $112.16 | 0.0% APR 0.000% every 8h | +11.6 bps | $509.6K | $199.6K | $369 | USDT | - | |
 MEXC | Trade | GLW/USDT | Trading | $112.16 | 0.0% APR 0.000% every 8h | +2.7 bps | $55.3K | $136.3K | $252.7K | USDT | 20x | |
 Hyperliquid HIP-3 | Trade | xyz:GLW | Trading | $111.95 | +15.9% APR +0.00181% every 1h | +27.8 bps | $58.5K | $75.8K | $397.2K | USDC | 10x | |
 BloFin | Trade | GLW/USDT | Trading | $112.20 | -2.8% APR -0.00253% every 8h | +8.0 bps | $526.6K | $34.4K | $111.1K | USDT | 20x | |
 HTX | Trade | GLW/USDT | Trading | $111.96 | 0.0% APR 0.000% every 8h | +88.6 bps | $21.9K | $9.3K | $14.5K | USDT | - | |
| Hyperliquid HIP-3 | Trade | para:GLW | Trading | $112.06 | +47.6% APR +0.00543% every 1h | +60.8 bps | $127K | $6.1K | $717.1K | USDC | 10x | |
 Crypto.com Exchange | Trade | GLW/USD | Trading | $111.99 | +7.7% APR +0.00088% every 1h | +29.5 bps | $9.7K | $5.1K | $26.1K | USD | 50x | |
 Aster | Trade | GLWUSDT | Trading | $112.12 | 0.0% APR 0.000% every 8h | +17.9 bps | $20.3K | $4.2K | $28.3K | USDT | - | |
 Orderly Network | Trade | GLW/USDC | Trading | $112.09 | -3.2% APR -0.00289% every 8h | - | no public depth feed | $3.2K | $5.1K | USDC | - | |
 Extended | Trade | GLW/USD | Trading | $112.07 | 0.0% APR 0.000% every 1h | +6.2 bps | - | $0 | $7.8K | USD | 10x | |
 Vest | Trade | GLW/USDC | Trading | $111.76 | +1.9% APR +0.00021% every 1h | +18.8 bps | - | - | - | USDC | 10x | |
 Deepcoin | Trade | GLW/USDT | Trading | $112.19 | - | +5.4 bps | $90.5K | $5.6M | - | USDT | 25x | |
 XT.com | Trade | GLW/USDT | Trading | $112.00 | -1.6% APR -0.00148% every 8h | +17.9 bps | $3.1K | $2.1M | - | USDT | 20x | |
 BingX | Trade | GLW-USDT | Trading | $112.18 | +10.3% APR +0.00940% every 8h | +6.3 bps | $1.1M | $1.6M | - | USDT | - | |
 Ourbit | Trade | GLW/USDT | Trading | $112.11 | 0.0% APR 0.000% every 8h | +5.4 bps | $866.6K | $21.2M⚠ | $137.2K | USDT | 20x | |
 Ondo Perps | Trade | GLW/USD | Trading | $111.93 | - | +4.5 bps | $303.2K | $1.6M⚠ | $85.4K | USDC | 10x | |
 LBank | Trade | GLW/USDT | Trading | $112.21 | 0.0% APR 0.000% every 8h | +3.6 bps | $2.9M | $720.2K⚠ | $1.7K | USDT | 50x |
Unverified volume: implausibly high against open interest, a typical sign of wash trading. These venues are listed last.
Tokenized wrappers of the real stock, tradable on-chain and on crypto exchanges around the clock. Premium/discount compares the token price to our stock reference price. Data: CoinMarketCap · Robinhood · DexScreener · GeckoTerminal.
| Product | Price | Premium vs stock | 24h Vol. | Market Cap | Chains |
|---|---|---|---|---|---|
| GLWBbStocks | $111.48 | -0.65% | $2.4M | $1.3M | BNB Smart Chain (BEP20) |
| GLWxxStocks | $111.85 | -0.32% | $40k | $410k | BNB Smart Chain (BEP20) · Ethereum · Solana · Arbitrum |
| GLWRobinhood | – | – | – | $3k | Robinhood Chain |
Tradability
Execution quality
Entry cost and depth per venue at $1k–$100k
Tradability
Execution quality
Entry cost and depth per venue at $1k–$100kBroad liquidity · 18 of 23 venues absorb $10k · Typical cost: +11.1 bps – +22.8 bps
Too thin: Crypto.com Exchange, XT.com
No fresh book data: Orderly Network, Extended, Vest
Taker execution estimate incl. approx. fees - maker fills are not guaranteed.
Best venues for this underlying
Best liquidity
GLWTightest spread
GLWHighest volume
GLWFunding history
Stored venue snapshots by market
Funding history
Stored venue snapshots by marketNext catalyst
Catalysts
Next catalyst
Catalysts
Earnings
2027-01-27
Revenue est. $5.26B · Updated 7h ago
Dividend
$0.28
2026-11-13
No unusual perp activity right now.
Reference data
Market context
Reference data
Market context
New York Stock Exchange
Extended-hours reference
Bid111.51
Ask112.77
Volume1,807,538
Research data
Analysts, filings and peer context
Research data
Analysts, filings and peer context
Estimates
6DateEPS estimateRevenue estimateGrowthAnalysts
FY 20263.37$19.4B+24%10
FY 20274.55$23.5B+21%11
FY 20286.20$28.4B+21%7
FY 20297.94$33.5B+18%2
FY 20309.07$39.7B+18%4
Q1 20270.92$5.3B+27%5
Source: FMP · Consensus
Company events
62027-01-27EarningsActual - / Estimate 0.98-
2026-11-13Dividend$0.28-
2026-10-27Earnings · Before market openActual 0.91 / Estimate 0.881Beat
2026-08-31Dividend$0.28-
2026-07-28EarningsActual 0.78 / Estimate 0.755Beat
2026-05-29Dividend$0.28-
Peer comparison
Similar listed perpsRevenue mix
Latest annualOptical CommunicationsProduct$6.3B
Display TechnologiesProduct$3B
Specialty MaterialsProduct$2.2B
Asia PacificGeographic$7.6B
North AmericaGeographic$7.1B
EuropeGeographic$1.4B
Analysts
Price targets in USD| Consensus rating | Buy |
|---|---|
| Average 12-month price target | $163.50 |
| 12-month target range (low – high) | $132 – $200 |
| Ratings in the provider's consensus | 37 |
Price targets as of 2026-11-13
Analyst rating history
Ratings| Month | Strong buy | Buy | Hold | Sell | Strong sell |
|---|---|---|---|---|---|
| Nov 2026 | 1 | 14 | 4 | 0 | 0 |
| Oct 2026 | 1 | 13 | 5 | 0 | 0 |
| Sep 2026 | 0 | 13 | 5 | 0 | 0 |
| Aug 2026 | 0 | 12 | 5 | 0 | 0 |
| Jul 2026 | 0 | 11 | 5 | 1 | 1 |
| Jun 2026 | 0 | 11 | 6 | 1 | 1 |
| May 2026 | 0 | 10 | 5 | 0 | 1 |
| Apr 2026 | 1 | 10 | 5 | 1 | 1 |
| Mar 2026 | 1 | 10 | 3 | 1 | 1 |
| Feb 2026 | 1 | 10 | 3 | 1 | 1 |
| Jan 2026 | 1 | 10 | 3 | 1 | 1 |
| Dec 2025 | 1 | 10 | 2 | 1 | 0 |
Ownership
Institutional · 2026-Q3Free float91.7%790.1M shares
Shares outstanding861.4M shares
Institutional35%1,873 investors
Investor count change-940
Reference market activity
GLW-PERPDay range (Nov 12)$112.68$120.92
52 week$77.39$271.78
Spot volume7.3M
Average volume-
Price performance
111D-0.7%
5D+9.9%
1M-18.8%
3M-28.6%
6M-39.7%
YTD+36.5%
1Y+34.3%
3Y+331.3%
5Y+205.6%
10Y+409.0%
MAX+1,990.2%
Insider activity
FY2026 Q3Acquisitions4 transactions1,032 shares
Dispositions2 transactions22,974 shares
Purchases0Ratio 2
Sales2
Insider transactions
25DateReporting persontransactionssharesPriceFilings
Corning director Martin Kevin J received a grant (A-Award) of 228 restricted stock units on 2026-09-30, leaving him with 20,462 shares owned. This is compensation, not an open-market purchase.
Corning director Roger W. Ferguson Jr. received 268 restricted stock units (A-Award) on 2026-09-30, leaving him with 16,990 shares owned.
Director Robert F. Cummings Jr. received an award of 268 restricted stock units on Sep 30, 2026, per a Form 4 filed Oct 1, 2026. This is a grant of compensation, not an open-market purchase. Holdings after: 131,030 shares.
Corning director Stephanie Burns was awarded 268 restricted stock units on 2026-09-30, an A-Award grant rather than an open-market purchase; she held 27,037 shares after.
Michelle L. Gullo, SVP & CHRO of Corning, sold 9,874 common shares at $152.29 each on September 4, 2026, leaving her with 9,384 shares.
Lewis A. Steverson, Vice Chairman, EVP and CLAO of Corning Incorporated, sold 13,100 common shares at $151.2923 each on 2026-08-28.
Corning director Kevin J Martin was awarded 137 Restricted Stock Units on 2026-06-30 as compensation (not a purchase), bringing his total holdings to 20,234 shares.
Roger W. Ferguson Jr., a director, was awarded 161 Restricted Stock Units on 2026-06-30 as compensation, bringing his ownership to 16,722 shares.
Robert F. Cummings Jr., director of Corning, was awarded 161 Restricted Stock Units on 2026-06-30, a grant rather than an open-market purchase. He now owns 130,762 shares directly.
Director Stephanie Burns was awarded 161 Restricted Stock Units in Corning on 6/30/2026, a compensation grant rather than a purchase. She now owns 26,769 shares.
Corning SVP & CHRO Michelle L. Gullo had 18,378 shares of common stock withheld to cover taxes at $209.83 per share, leaving 19,258 shares owned afterward.
Wendell Weeks exercised options to acquire 100,000 Corning shares at $27.03, then sold all 100,000 shares on the open market at $186.4607.
Jaymin Amin exercised 7,917 stock options at $27 to acquire 7,917 Corning common shares, then sold 27,395 common shares at $192.1386, leaving 94,400 shares owned.
Nelson Avery H III, EVP & COO of Corning, sold 20,000 shares of common stock on 2026-05-15 at $195.93 per share, leaving 70,059 shares owned afterward.
Fang Li exercised 8,725 stock appreciation rights at $19.65 each, converting them into 8,725 shares of Corning common stock.
Ronald L. Verkleeren (SVP, Emerging Innovations Group) sold 10,000 shares of Corning common stock at $207.7708 on 2026-05-13, leaving 48,143 shares owned afterward.
Stefan Becker (SVP, Finance & Corp Controller) gifted 126 shares of Corning common stock on 2026-05-13, leaving 7,137 shares owned afterward.
Michaune D. Tillman, SVP and General Counsel of Corning, sold 3,260 shares of common stock on 2026-05-11 at $207.0152 per share, leaving 10,174 shares owned afterward.
Soumya Seetharam (SVP & CDIO) sold 20,000 shares of Corning common stock at $206.2323 on 2026-05-11, leaving 25,570 shares owned afterward.
John Z. Zhang, EVP & CCDO of Corning, sold 10,000 shares of common stock on 2026-05-11 at $198.3383 per share, leaving 5,138 shares owned afterward.
Filings
43 · Latest SEC filings2026-10-014Insider transaction report (Form 4)
Corning director Martin Kevin J received a grant (A-Award) of 228 restricted stock units on 2026-09-30, leaving him with 20,462 shares owned. This is compensation, not an open-market purchase.
2026-10-014Insider transaction report (Form 4)
Corning director Roger W. Ferguson Jr. received 268 restricted stock units (A-Award) on 2026-09-30, leaving him with 16,990 shares owned.
2026-10-014Insider transaction report (Form 4)
Director Robert F. Cummings Jr. received an award of 268 restricted stock units on Sep 30, 2026, per a Form 4 filed Oct 1, 2026. This is a grant of compensation, not an open-market purchase. Holdings after: 131,030 shares.
2026-10-014Insider transaction report (Form 4)
Corning director Stephanie Burns was awarded 268 restricted stock units on 2026-09-30, an A-Award grant rather than an open-market purchase; she held 27,037 shares after.
2026-09-084Insider transaction report (Form 4)
Michelle L. Gullo, SVP & CHRO of Corning, sold 9,874 common shares at $152.29 each on September 4, 2026, leaving her with 9,384 shares.
2026-08-314Insider transaction report (Form 4)
Lewis A. Steverson, Vice Chairman, EVP and CLAO of Corning Incorporated, sold 13,100 common shares at $151.2923 each on 2026-08-28.
2026-07-014Insider transaction report (Form 4)
Corning director Kevin J Martin was awarded 137 Restricted Stock Units on 2026-06-30 as compensation (not a purchase), bringing his total holdings to 20,234 shares.
2026-07-014Insider transaction report (Form 4)
Roger W. Ferguson Jr., a director, was awarded 161 Restricted Stock Units on 2026-06-30 as compensation, bringing his ownership to 16,722 shares.
2026-07-014Insider transaction report (Form 4)
Robert F. Cummings Jr., director of Corning, was awarded 161 Restricted Stock Units on 2026-06-30, a grant rather than an open-market purchase. He now owns 130,762 shares directly.
2026-07-014Insider transaction report (Form 4)
Director Stephanie Burns was awarded 161 Restricted Stock Units in Corning on 6/30/2026, a compensation grant rather than a purchase. She now owns 26,769 shares.
2026-06-234Insider transaction report (Form 4)
Corning SVP & CHRO Michelle L. Gullo had 18,378 shares of common stock withheld to cover taxes at $209.83 per share, leaving 19,258 shares owned afterward.
2026-06-094Insider transaction report (Form 4)
Wendell Weeks exercised options to acquire 100,000 Corning shares at $27.03, then sold all 100,000 shares on the open market at $186.4607.
2026-05-264Insider transaction report (Form 4)
Jaymin Amin exercised 7,917 stock options at $27 to acquire 7,917 Corning common shares, then sold 27,395 common shares at $192.1386, leaving 94,400 shares owned.
2026-05-184Insider transaction report (Form 4)
Nelson Avery H III, EVP & COO of Corning, sold 20,000 shares of common stock on 2026-05-15 at $195.93 per share, leaving 70,059 shares owned afterward.
2026-05-154Insider transaction report (Form 4)
Fang Li exercised 8,725 stock appreciation rights at $19.65 each, converting them into 8,725 shares of Corning common stock.
2026-05-144Insider transaction report (Form 4)
Stefan Becker (SVP, Finance & Corp Controller) gifted 126 shares of Corning common stock on 2026-05-13, leaving 7,137 shares owned afterward.
2026-05-144Insider transaction report (Form 4)
Ronald L. Verkleeren (SVP, Emerging Innovations Group) sold 10,000 shares of Corning common stock at $207.7708 on 2026-05-13, leaving 48,143 shares owned afterward.
2026-05-124Insider transaction report (Form 4)
John Z. Zhang, EVP & CCDO of Corning, sold 10,000 shares of common stock on 2026-05-11 at $198.3383 per share, leaving 5,138 shares owned afterward.
2026-05-124Insider transaction report (Form 4)
Soumya Seetharam (SVP & CDIO) sold 20,000 shares of Corning common stock at $206.2323 on 2026-05-11, leaving 25,570 shares owned afterward.
2026-05-124Insider transaction report (Form 4)
Michaune D. Tillman, SVP and General Counsel of Corning, sold 3,260 shares of common stock on 2026-05-11 at $207.0152 per share, leaving 10,174 shares owned afterward.
2026-05-084Insider transaction report (Form 4)
Michelle L Gullo (SVP & CHRO) sold 5,315 shares of Corning common stock at $189.029 per share, leaving 37,636 shares owned afterward.
2026-05-084Insider transaction report (Form 4)
Stefan Becker (SVP, Finance & Corp Controller) sold 21,000 shares of Corning common stock on the open market at $188.08 per share, leaving 7,263 shares owned afterward.
2026-05-084Insider transaction report (Form 4)
Lewis A. Steverson, Vice Chairman, EVP and CLAO of Corning, sold 27,750 shares of common stock at $196.0574 per share, leaving 28,152 shares owned afterward.
2026-05-074Insider transaction report (Form 4)
Edward A. Schlesinger, EVP and CFO of Corning, sold 22,562 shares of common stock on 2026-05-07 at $186.076 per share, leaving him with 65,264 shares owned afterward.
2026-05-064Insider transaction report (Form 4)
John Z. Zhang (EVP & CCDO) sold 15,000 shares of Corning common stock at $184.6656 per share, leaving 15,138 shares owned afterward.
2026-05-054Insider transaction report (Form 4)
Michaune D. Tillman (SVP & General Counsel) had 2,946 shares of Corning common stock withheld to cover taxes at $159.96 per share, leaving 13,434 shares owned afterward.
2026-05-014Insider transaction report (Form 4)
Stefan Becker converted 1,502 performance share units and 1,293 restricted stock units into 2,795 Corning common shares upon vesting, and had all 2,795 shares withheld to cover taxes at $151.90 per share.
Transcripts
Earnings callsFY2026 Q22026-07-28
Earnings calls
AI summary
positiveCorning Incorporated reported outstanding second quarter 2026 results demonstrating significant progress on its upgraded Springboard growth plan. The company achieved year-over-year sales growth of 17% to $4.74 billion, EPS growth of 30% to $0.78 per share, and gross margin expansion of 120 basis points to 39.6%. Operating margin expanded 190 basis points to 20.9%, while ROIC improved 180 basis points to 14.9%. Free cash flow reached $1.42 billion. The company announced an upgraded Springboard plan targeting annualized sales run rates of $20 billion by end of 2026, $30 billion by end of 2028, and $40 billion by end of 2030, representing a 19% CAGR from Q4 2026 to Q4 2030. Optical Communications led growth with 32% sales increase to $2.07 billion and 77% net income growth. Enterprise segment sales grew 65% year-over-year with AI data center sales nearly doubling. The company secured major customer agreements including partnerships with Meta ($6 billion multiyear agreement), NVIDIA (multiyear technology partnership), and Amazon (multibillion dollar agreement) for optical connectivity solutions. Management emphasized strong demand for Gen AI products, orders acceleration, and signific
Key takeaways
- Corning delivered 17% year-over-year sales growth to $4.74 billion in Q2 2026 with 30% EPS growth to $0.78, both above guided ranges, demonstrating strong execution on Springboard plan
- Optical Communications segment achieved record profitability with 32% sales growth to $2.07 billion and 77% net income growth, with Enterprise sales growing 65% driven by AI data center demand
- Company secured major long-term customer agreements with Meta ($6 billion), NVIDIA (multiyear partnership), and Amazon (multibillion dollars) for optical connectivity supporting AI infrastructure
- Management projects growth acceleration to 19% CAGR from Q4 2026 to Q4 2030, with earnings expected to grow faster than sales and significantly improved returns on invested capital
- New $10 billion photonics market access platform opportunity by 2030 created by optical scale-up adoption, co-packaged optics, and near-package optics technologies
Financial highlights
- Sales grew 17% year-over-year to $4.74 billion; EPS increased 30% to $0.78 per share
- Gross margin expanded 120 basis points to 39.6%; Operating margin expanded 190 basis points to 20.9%
- ROIC expanded 180 basis points to 14.9%; Free cash flow reached $1.42 billion
- Optical Communications sales reached $2.07 billion (up 32% YoY) with net income of $438 million (up 77% YoY) achieving record 21% NPAT as percent of sales
Guidance
- Q3 2026 expected sales growth of approximately 16% year-over-year to range of $4.9 billion to $5.0 billion with core EPS growth of approximately 28% to range of $0.85 to $0.89
- Full year 2026 CapEx expected at approximately $2 billion to support optical communications growth opportunities
- Solar business expected to show improved sales and profitability beginning in Q3 2026 following facility maintenance and equipment upgrades
- Company expects to reach $20 billion annualized sales run rate by end of Q4 2026, with growth accelerating to 19% CAGR through end of 2030
Q&A themes
- Optical capacity ramping with strong customer demand acceleration, particularly for AI data center solutions and Gen AI product innovations
- Long-term customer agreements increasingly underpinning major capacity expansions to appropriately share risk and rewards of growth
- Photonics and optical scale-up timing and adoption rates remain uncertain but represent dramatic upside opportunities based on industry technical changes
- Corning creating value through innovations in fiber, cable, and connectivity solutions that reduce customer costs and increase deployment speed, allowing company to capture portion of value created
Risks
- Scale-up optical adoption timing in AI factories is difficult to predict and represents significant assumption in photonics plan; industry timing speculation differs from internal ecosystem visibility
- Memory pricing expected to impact handheld market with units down mid-teens percentage in 2026, though Corning expects to outperform through premium segment positioning and content innovations
- Photonics market opportunity highly dependent on percentage of optical ports adopted in scale-up systems and successful penetration into AI factories, both uncertain variables with limited public disclosure
FY2026 Q12026-04-28
Earnings calls
AI summary
positiveCorning delivered Q1 2026 sales of $4.35 billion (up 18% YoY) and EPS of $0.70 (up 30% YoY), with operating margin expanding 220 basis points to 20.2%. The company secured two additional large long-term hyperscaler agreements similar in size and duration to its $6 billion Meta deal, and is scaling solar manufacturing across polysilicon, wafers, and modules. Management will present an upgraded and extended Springboard plan through 2030 at a May 6 investor event.
Key takeaways
- Optical Communications grew 36% YoY with robust demand for Gen AI products; two new hyperscaler agreements concluded alongside Meta's $6B multiyear deal
- Solar segment now standalone, grew 80% YoY; polysilicon business exceeds 20% operating margin target; module business on track to cross 20% margin in Q2
- Company will undergo extended wafer facility maintenance shutdown in Q2 with $30M incremental expense to transition to permanent power systems and upgrade equipment
- ROIC expanded 190 basis points to 13.5%; free cash flow of $188M in Q1; company using customer funding and risk-sharing agreements to support expansion
- Springboard progress: vs Q4 2023 baseline, sales grew 33%, EPS up 79%, operating margin expanded 390 bps, ROIC expanded 470 bps
Financial highlights
- Q1 2026 sales: $4.35 billion, up 18% YoY; EPS: $0.70, up 30% YoY
- Operating margin: 20.2%, up 220 bps YoY; Gross margin: 39.1%, up 120 bps YoY
- Optical Communications: $1.8B sales (up 36% YoY), $387M net income (up 93% YoY)
- Solar: $370M sales (up 80% YoY); Glass Innovations: $1.4B sales (up 1% YoY); Automotive: $437M sales (down 1% YoY)
Guidance
- Q2 2026 guidance: sales approximately $4.6B (up 14% YoY); EPS $0.73 to $0.77 (up 25% YoY)
- Solar wafer facility $30M incremental expense in Q2 for extended maintenance shutdown and transition to permanent power system
- Full year: expect significantly more free cash flow YoY while continuing strong investment in growth vectors
- Investor event May 6: will upgrade and extend Springboard plan through 2030 with increased sales plan for solar map above $2.5B target
Q&A themes
- Hyperscaler agreements include blended risk-sharing mechanisms (funding, take-or-pay, guaranteed revenue, pricing) tailored to customer preferences; scale-up opportunities expected to materialize in later years of long-term contracts
- Optical Communications pricing environment favorable; margin expansion driven primarily by innovation and new product adoption rather than commodity price increases; return on invested capital in Optical expected to exceed glass businesses
- Carrier segment growth driven by fiber-to-home expansion and data center interconnect; fiber-to-the-home homes-passed by large carriers increased ~50% since Springboard start
- Solar drag expected to improve sequentially after Q2 shutdown; polysilicon and module businesses tracking well; wafer facility complexity is primary near-term constraint
Risks
- Solar wafer facility experiencing ramp delays requiring extended maintenance shutdown; $0.07 EPS impact in Q2 guidance with uncertain timeline to return to 20% operating margin target
- Memory price inflation expected to significantly impact market in 2026, though company expects to outperform market through innovations
- Long-term hyperscaler agreements create extended revenue visibility but introduce execution risk around capacity expansion timelines and technology adoption rates for scale-up components
FY2025 Q42026-01-28
Earnings calls
AI summary
positiveCorning reported exceptional Q4 2025 results with sales of $4.41B (up 14% YoY) and EPS of $0.72 (up 26% YoY), achieving its 20% operating margin target a full year ahead of schedule. The company upgraded its SpringBoard plan to add $11B in incremental annualized sales by 2028, up from the original $8B target, driven by strong optical communications demand and strategic customer agreements including a multiyear up-to-$6B Meta partnership. Over two years of SpringBoard execution, Corning has grown sales 35%, expanded operating margins by 390 basis points to 20.2%, increased EPS 85%, and nearly doubled free cash flow to $1.72B.
Key takeaways
- Upgraded SpringBoard plan targets $11B incremental annualized sales by 2028 (vs. original $8B) with $6.5B internal plan and $5.75B high-confidence plan for 2026
- Announced multiyear up-to-$6B Meta agreement for optical fiber, cable, and connectivity solutions with similar-scale agreements being concluded with other major customers
- Optical Communications segment delivered $1.7B in Q4 sales (up 24% YoY) with 18% net income margin; enterprise business grew 61% YoY with hyperscale portion growing significantly faster
- Q1 2026 guidance: sales expected up ~15% YoY to $4.2-$4.3B range; EPS expected up ~26% to $0.66-$0.70 range; CapEx planned at ~$1.7B
- Achieved 20% operating margin target one year early and expanded ROIC by 150 basis points to 14.2% in Q4; full-year free cash flow of $1.7B nearly doubled versus $818M in 2023
Financial highlights
- Q4 2025: Sales $4.41B (up 14% YoY), EPS $0.72 (up 26% YoY), operating margin 20.2% (up 170 bps), ROIC 14.2% (up 150 bps), free cash flow $732M
- Full-year 2025: Sales $16.4B (up 13% YoY), EPS $2.52 (up 29% YoY), operating margin 19.3% (up 180 bps), free cash flow $1.72B
- Optical Communications full-year: Sales $6.3B (up 35% YoY), net income $1.0B (up 71% YoY), enterprise business up 61% YoY
- Display segment full-year: Net income $993M with 26.5% net income margin (exceeded target of $900-950M and 25% margin)
Guidance
- Q1 2026: Sales growth ~15% YoY to $4.2-4.3B range; EPS growth ~26% to $0.66-0.70 range; solar ramp drag of $0.03-0.05 per share
- Full-year 2026: CapEx ~$1.7B (vs. ~$1.0B in 2025); expect sales and profitability to improve through the year
- Display segment: Continue to deliver $900-950M annual net income with ~25% net income margin; yen hedged through 2030
- Solar business (Hemlock/Emerging Growth): Build to $2.5B revenue stream by 2028 with profitability at or above Corning average; expect margin improvement as ramp completes
Q&A themes
- Meta and similar customer agreements include $6B capacity being built with financial impact primarily in 2027-2028; management taking conservative approach not yet including full financial impact in upgraded plan
- Optical fiber market has adequate supply globally, but company experiencing robust demand for new high-density products where if Corning could make more, it could sell more
- Meta agreement accounts for enterprise business; carrier business includes long-haul data center interconnect through carriers like Lumen and AT&T; data center interconnect now largest carrier driver
- CPO (chip-photonic integration) scale-up opportunity not significantly included in SpringBoard upgrade; timing uncertain with scenarios ranging from within 2028 timeframe to primarily 2028 and beyond
Risks
- Display segment subject to yen fluctuation risk; while hedged through 2030 at 120 yen assumption, weaker yen could require additional price increases to maintain profitability targets
- Solar business ramp causing temporary margin pressure of $0.03-0.05 per share in Q1 2026; timing of profitability improvement depends on successful capacity ramp completion
- CPO and intra-data-center optics adoption timing uncertain; SpringBoard plan conservatively excludes significant revenue pending clearer evidence of commercialization timing
FY2025 Q32025-10-28
Earnings calls
AI summary
positiveCorning reported Q3 2025 sales of $4.27 billion (up 14% YoY) and EPS of $0.67 (up 24% YoY), with operating margin expanding 130 basis points to 19.6%. The company is tracking significantly ahead of its Springboard plan, having added $4 billion in incremental annualized sales since launch and is now expecting to hit its 20% operating margin target in Q4 2025, one year early. Key growth drivers include strong Gen AI adoption in optical communications (33% sales growth) and solar ramp at Hemlock facility.
Key takeaways
- Q3 sales grew 14% YoY to $4.27B; EPS grew 24% YoY to $0.67; operating margin expanded 130 bps to 19.6%
- Since Springboard launch in Q4 2023, sales up 31%, operating margin up 330 bps, EPS up 72%, ROIC up 460 bps
- Optical Communications grew 33% YoY with enterprise segment at 58% YoY growth driven by Gen AI scale-out; now at $3.3B annualized run rate vs $1.3B in 2023
- Solar business ramping with new Hemlock facility moving from thousands to 1M+ wafers per day; committed customers for 80%+ of capacity through 2027; targeting $2.5B revenue by 2028
- Q4 guidance: $4.35B sales (12% YoY growth), EPS $0.68-$0.72 with $0.03 impact from solar ramp costs
Financial highlights
- Q3 2025: Sales $4.27B (+14% YoY), EPS $0.67 (+24% YoY), operating margin 19.6% (+130 bps), ROIC 13.4% (+160 bps)
- Free cash flow $535M in Q3; full year 2025 expected to be significant step up from 2024; CapEx ~$1.3B for 2025
- Optical Communications Q3 sales $1.65B (+33% YoY); net income up 69% YoY to $295M
- Specialty Materials Q3 sales $621M (+13% YoY); net income up 57% YoY to $113M
Guidance
- Q4 2025 sales guidance: $4.35B (12% YoY growth), representing $300M addition to annualized run rate
- Q4 2025 EPS guidance: $0.68-$0.72 range; approximately $0.03 temporary impact from solar ramp costs
- Operating margin expected to reach 20% target in Q4 2025, one year ahead of original Springboard plan
- Solar business: targeting $1.6B new annualized revenue by 2027 (tripling Q1 2025 run rate of $200M) and $2.5B revenue by 2028; expect data center interconnect business to reach $1B opportunity by end of decade
Q&A themes
- Optical supply constraints: Company is tight on capacity with customers wanting more products; capacity expansion plans underway at Hickory facility and discussions with customers about funding/derisking capital investments
- Quarterly sequencing: Q2-Q3 sequential revenue increases smaller this year vs last year due to supply timing of specific SKUs, not demand weakness; undershipping demand as customers would take more if available
- Apple Harrodsburg investment: $2.5B commitment for 100% U.S. production of iPhone/Apple Watch cover glass; creates longer-term growth spring for mobile consumer electronics through co-innovation center
- Solar module strategy: Corning focusing on poly/ingots/wafers and modules with new innovations; seeking to source cells from other U.S. makers to build competitive U.S. supply chain without relying on subsidies
Risks
- Solar business ramp costs impacting margins in near term ($0.03 EPS impact in Q4); company expects improvement as facility reaches full capacity
- Optical Communications capacity constraints may limit near-term growth if customer funding for capacity expansion cannot be secured; supply timing between quarters creates variability
- Display business facing headwinds from weaker yen environment; company hedged 2025-2026 exposure and reset core rate to JPY 120/dollar
FY2025 Q22025-07-29
Earnings calls
AI summary
positiveCorning delivered outstanding Q2 results with record sales of $4 billion (12% YoY growth) and EPS of $0.60 (28% YoY growth), significantly outpacing sales growth and demonstrating operational leverage. Operating margin expanded 160 bps to 19% and ROIC improved 210 bps to 13.1%. The company is tracking ahead of its upgraded Springboard plan targets, with $3.1B in incremental annualized sales added since launch and confidence in continued momentum through 2026.
Key takeaways
- Q2 sales grew 12% YoY to record $4B; EPS grew 28% YoY to $0.60, outpacing sales growth by 2.3x due to operational leverage
- Optical Communications sales surged 41% YoY to $1.6B, led by 81% YoY enterprise/AI growth and 16% carrier growth from new Gen AI data center interconnect products
- Solar business expected to triple revenue run rate by 2027, adding $1.6B annualized revenue, with 100% polysilicon and 80% wafer capacity committed through 2025-2030
- Q3 guidance expects double-digit sales and earnings growth with sales of $4.2B and EPS of $0.63-$0.67; tariff impact estimated at $0.01-$0.02 per share
- Free cash flow grew 28% YoY to $451M; company expects $1.3B capex investment and plans to return excess cash primarily through share buybacks
Financial highlights
- Q2 2025: Sales $4.0B (+12% YoY), EPS $0.60 (+28% YoY), Operating margin 19% (+160 bps YoY), ROIC 13.1% (+210 bps YoY)
- Q2 Optical Communications net income $247M (+73% YoY); Q2 Display net income $243M consistent with Q1
- Q2 free cash flow $451M (+28% YoY); full-year capex guidance $1.3B
- Display guidance: FY2025 net income $900M-$950M (high end expected), 25% margin; Q3 glass market volume and pricing expected consistent with Q2
Guidance
- Q3 2025: Sales $4.2B, EPS $0.63-$0.67 (double-digit growth both metrics); tariff impact $0.01-$0.02; temporary ramp costs $0.02-$0.03
- FY2025 Display net income expected at high end of $900M-$950M guidance range with 25%+ margin maintained
- Optical Communications: Expect continued strong enterprise Gen AI growth; DCI business expected to reach $1B opportunity by end of decade; CPO/scale-up opportunity sized at 2-3x existing $2B enterprise business
- Solar: Triple sales run rate by 2027 ($1.6B incremental); wafer facility online Q3 with shipments beginning Q4 2025; 100% polysilicon and 80% wafer capacity committed for 2025-2030
Q&A themes
- Tariff pull-forward activity observed in Specialty Materials (Gorilla Glass) and Display in Q2; company factored estimated adjustments into Q3 guidance conservatively
- Renewable energy legislation retained advanced manufacturing tax credits and domestic content preferences; continues to support Corning's U.S. solar strategy
- Major customer negotiations underway for leveraging Corning's 34 U.S. factories; confidential discussions expected to conclude within months with potential announcements
- Optical Communications supply remains tight on newest products; lead times short for bespoke systems; customer announcements from NVIDIA and Broadcom cited as indicators of platform wins; focus remains on winning CPO architectures
Risks
- Temporary production ramp costs of $0.02-$0.03 per share expected in Q3 for new Gen AI and solar products; margin benefits from new pricing not yet fully reflected pending cost absorption
- Foldable device adoption delayed relative to original Springboard plan; carrier inventory depletion took longer than expected, though now normalizing to deployment-rate purchasing
- Tariff impacts estimated at $0.01-$0.02 per share in Q3, with second-half adjustments anticipated from customer pull-forward activity; policy uncertainty flagged as potential risk factor
FY2025 Q12025-04-29
Earnings calls
Company news
Reuters, WSJ, Bloomberg and FT first, as far as our news provider delivers them; other publishers behind the second filter. Headlines link to the publisher.- Corning Profit Surges on AI Demand
- AT&T, Corning Enter $3 Billion Deal for Fiber
- AT&T signs over $3 billion fiber deal with Corning as data demand surges
- Verizon signs optical fiber deal with Corning to expand broadband, support AI growth
- Verizon, Corning Reach Multi-Billion Dollar Agreement for Broadband Expansion
Company data
Company intelligence
Updated: Nov 13, 2026, 02:44 PM UTC
Company data
Company intelligence
Company profile
- Sector
- Technology
- Industry
- Hardware, Equipment & Parts
- Chief executive
- Wendell Weeks
- Employees
- 67,200
- IPO date
- Dec 31, 1981
- Country
- US
- Exchange
- New York Stock Exchange
Altman Z-scorei4.93
Piotroski scorei8/9
Overall ratingiB-
Owner earningsi$1.41B$1.62 per share
ESG risk ratingiBIndustry rank: 48/86
Rating factors
- Return on equityi
- 4/5
- Return on assetsi
- 4/5
- Debt to equityi
- 2/5
- Price to earningsi
- 1/5
- Price to booki
- 1/5
Company press releases
Corning Delivers Outstanding Third-Quarter Results(1)Business WireINVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Corning Incorporated - GLWPRNewsWireINVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Corning Incorporated - GLWGlobeNewsWireINVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Corning Incorporated - GLWPRNewsWireINVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Corning Incorporated - GLWGlobeNewsWireLumentum, Astera Labs, and Corning to Demonstrate 1060 nm VCSEL-Based PCIe over Optics for AI Rack-Scale Connectivity at the 2026 OCP Global SummitBusiness Wire
Congressional disclosures
Senate
Alan ArmstrongSale (Full) · $100,001 - $250,000Disclosed: Jul 21, 2026Thomas Richard CarperSale (Partial) · $1,001 - $15,000Disclosed: Feb 3, 2022Thomas R. CarperSale (Partial) · $1,001 - $15,000Disclosed: Feb 3, 2022Thomas Richard CarperPurchase · $1,001 - $15,000Disclosed: May 17, 2021Thomas R. CarperPurchase · $1,001 - $15,000Disclosed: May 17, 2021
House
Ro KhannaPurchase · $1,001 - $15,000Disclosed: Nov 9, 2026Maria Elvira SalazarSale · $1,001 - $15,000Disclosed: Oct 8, 2026Maria Elvira SalazarPurchase · $1,001 - $15,000Disclosed: Oct 8, 2026Ro KhannaPurchase · $1,001 - $15,000Disclosed: Oct 9, 2026Maria Elvira SalazarSale · $1,001 - $15,000Disclosed: Oct 8, 2026
Market cap history
$103.13B-24.4%Aug 2026 – Nov 2026
Latest: $103.13B · 2026-11-12High: $148.96B · 2026-08-17Low: $100.06B · 2026-11-09
Largest fund holders
| Fund | Weight | Shares held |
|---|---|---|
| VTI | 0.16% | 24.6M |
| VOO | 0.18% | 20.8M |
| FXAIX | 0.19% | 12.3M |
| IVV | 0.15% | 10.6M |
| XSP.TO | 0.15% | 10.5M |
| SPY | 0.15% | 9.7M |
| VUG | 0.34% | 8.6M |
| XLK | 0.6% | 5.8M |
| VGT | 0.49% | 5.6M |
| VIIIX | 0.18% | 4.2M |
| VWELX | 0.44% | 3.5M |
| NIZ | 1.12% | 3.1M |
Analyst track record
How the analysts covering GLW have done: ratings, price-target accuracy and the measured reaction after their calls.
| 12 months | 3 years | |
|---|---|---|
| Ratings | 114 | 276 |
| Analysts | 20 | 21 |
| Buy / hold / sell | 73 / 41 / 0 | 178 / 97 / 1 |
| Upgrades / downgrades / initiations | 2 / 2 / 2 | 10 / 4 / 4 |
| Price targets hit / missed | 12 / 92 (12%) | 162 / 92 (64%) |
| Avg. return after a rating (TipRanks) | -23.7% | +72.6% |
| Best / worst call | +45.7% / -55.7% | +312.1% / -55.7% |
After buy calls on this stock: median 21-day move +5.7% vs S&P 500 +3.0% (n = 172)
Most accurate on this stock
Share of an analyst's price targets on this stock that the price reached within 12 months (our measurement over the last 3 years, at least 8 targets). It describes past calls, not the odds of the current one.
- Asiya MerchantCiti100% hit rate on this stock · 19 targets measuredBuytarget $200Oct 27, 2026
- Samik ChatterjeeJ.P. Morgan100% hit rate on this stock · 17 targets measuredHoldno targetJun 25, 2026
- Wamsi MohanBank of America Securities100% hit rate on this stock · 15 targets measuredBuyno targetNov 9, 2026
Latest ratings
| Date | Analyst | Call | Target | |
|---|---|---|---|---|
| Nov 11, 2026 | Dushyant AilaniJefferiesNov 11, 2026 | BuyInitiated | $134↗ | article ↗ |
| Nov 9, 2026 | Wamsi MohanBank of America SecuritiesNov 9, 2026 | BuyMaintained | –↗ | article ↗ |
| Nov 9, 2026 | Mark NewmanBernsteinNov 9, 2026 | HoldReiterated | $120↗ | article ↗ |
| Nov 5, 2026 | Steven FoxFox AdvisorsNov 5, 2026 | BuyUpgraded | –↗ | article ↗ |
| Oct 28, 2026 | Joseph CardosoJ.P. MorganOct 28, 2026 | HoldMaintained | $165↗ | article ↗ |
Share of analysts per call each month (latest call per analyst within 180 days). Targets and closes in USD.
TipRanks data · computed Nov 13, 2026 · 114 ratings
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