Corning's stock rises as it sticks to Q3 profit view

By Steve Gelsi

Maker of optical fiber and displays continues to expect Q3 profit of 50 cents to 54 cents a share

Corning Inc's stock was up 2.4% on Thursday after the industrial glass company said it remains on track to add $3 billion in sales by the end of 2026 under its "springboard plan."

The plan is also targeting an operating margin of 20%.

Corning (GLW) said it continues to expect third-quarter earnings of 50 cents to 54 cents a share.

Analysts currently expect Corning to earn 53 cents a share, according to estimates compiled by FactSet.

The maker of displays and optical fiber said it's still projecting third-quarter sales of $3.7 billion, in line with the analyst estimate.

The company said its display technologies unit is expected to generate $900 million to $950 million of net income in 2025, with a margin of 25%.

Corning's stock has risen 46.1% in 2025, while the S&P 500 SPX has risen 19.9%.

-Steve Gelsi

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09-19-24 1452ET

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