Corning Incorporated (GLW) Income Statement Analysis

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Complete financial analysis of Corning Incorporated (GLW) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of Corning Incorporated, a leading company in the Hardware, Equipment & Parts industry within the Technology sector.

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Corning Incorporated (GLW)

Industry: Hardware, Equipment & Parts

Sector: Technology

Website: https://www.corning.com

About Corning Incorporated

Corning Incorporated engages in display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses worldwide. The company's Display Technologies segment offers glass substrates for liquid crystal displays and organic light-emitting diodes used in televisions, notebook computers, desktop monitors, tablets, and handheld devices. Its Optical Communications segment provides optical fibers and cables; and hardware and equipment products, including cable assemblies, fiber optic hardware and connectors, optical components and couplers, closures, network interface devices, and other accessories. This segment also offers its products to businesses, governments, and individuals. Its Specialty Materials segment manufactures products that provide material formulations for glass, glass ceramics, crystals, precision metrology instruments, software; as well as ultra-thin and ultra-flat glass wafers, substrates, tinted sunglasses, and radiation shielding products. This segment serves various industries, including mobile consumer electronics, semiconductor equipment optics and consumables; aerospace and defense optics; radiation shielding products, sunglasses, and telecommunications components. The company's Environmental Technologies segment offers ceramic substrates and filter products for emissions control in mobile, gasoline, and diesel applications. The company's Life Sciences segment offers laboratory products comprising consumables, such as plastic vessels, liquid handling plastics, specialty surfaces, cell culture media, and serum, as well as general labware and equipment under the Corning, Falcon, Pyrex, and Axygen brands. The company was formerly known as Corning Glass Works and changed its name to Corning Incorporated in April 1989. Corning Incorporated was founded in 1851 and is headquartered in Corning, New York.

Metric	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000	1999	1998	1997	1996	1995	1994	1993	1992	1991	1990	1989	1988	1987	1986	1985
Revenue	12.59B	14.19B	14.08B	11.30B	11.50B	11.29B	10.12B	9.39B	9.11B	9.72B	7.82B	8.01B	7.89B	6.63B	5.40B	5.95B	5.86B	5.17B	4.58B	3.85B	3.09B	3.16B	6.27B	7.27B	4.30B	3.48B	4.09B	3.65B	5.31B	4.77B	4.00B	3.71B	3.26B	2.94B	2.44B	2.12B	2.08B	1.86B	1.69B
Cost of Revenue	8.66B	9.68B	9.02B	7.77B	7.47B	6.83B	6.08B	5.64B	5.46B	5.66B	4.50B	4.62B	4.32B	3.58B	3.30B	3.21B	3.11B	2.89B	2.60B	2.44B	2.24B	2.56B	4.38B	3.61B	2.32B	1.86B	2.08B	1.97B	3.01B	2.72B	2.32B	2.16B	1.89B	1.71B	1.43B	1.24B	1.26B	1.09B	983.50M
Gross Profit	3.93B	4.51B	5.06B	3.53B	4.04B	4.46B	4.03B	3.75B	3.65B	4.05B	3.32B	3.40B	3.57B	3.05B	2.09B	2.74B	2.75B	2.28B	1.98B	1.42B	849.00M	602.00M	1.89B	3.66B	1.98B	1.63B	2.01B	1.68B	2.30B	2.05B	1.69B	1.55B	1.37B	1.23B	1.01B	877.70M	821.90M	766.00M	707.00M
Gross Profit Ratio	31.23%	31.76%	35.95%	31.24%	35.08%	39.51%	39.86%	39.89%	40.09%	41.71%	42.51%	42.40%	45.20%	45.97%	38.80%	46.03%	46.91%	44.12%	43.33%	36.72%	27.48%	19.03%	30.17%	50.35%	46.01%	46.73%	49.03%	46.03%	43.37%	42.93%	42.15%	41.67%	42.00%	41.69%	41.39%	41.37%	39.44%	41.26%	41.82%
Research & Development	1.08B	1.05B	995.00M	1.15B	1.03B	993.00M	860.00M	742.00M	769.00M	815.00M	710.00M	745.00M	671.00M	603.00M	563.00M	627.00M	565.00M	517.00M	443.00M	355.00M	344.00M	483.00M	631.00M	540.00M	362.60M	293.90M	250.70M	189.20M	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
General & Administrative	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling & Marketing	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SG&A	1.84B	1.90B	1.83B	1.75B	1.59B	1.80B	1.47B	1.47B	1.52B	1.21B	1.13B	1.17B	1.03B	1.02B	881.00M	901.00M	912.00M	857.00M	756.00M	653.00M	599.00M	716.00M	1.10B	1.05B	602.50M	487.70M	671.40M	831.10M	1.34B	1.05B	947.10M	906.60M	753.20M	706.30M	655.80M	533.80M	529.10M	468.20M	443.40M
Other Expenses	0.00	123.00M	129.00M	121.00M	113.00M	-216.00M	-103.00M	-84.00M	-101.00M	1.39B	667.00M	83.00M	15.00M	8.00M	10.00M	-329.00M	195.00M	57.00M	210.00M	71.00M	450.00M	43.00M	439.00M	520.00M	380.70M	298.00M	321.60M	288.10M	377.40M	338.40M	280.40M	248.20M	231.30M	211.20M	171.30M	153.90M	145.70M	130.10M	126.70M
Operating Expenses	3.04B	3.07B	2.95B	3.02B	2.73B	2.89B	2.40B	2.28B	2.35B	2.06B	1.87B	1.93B	1.72B	1.58B	1.45B	1.22B	1.67B	1.43B	1.41B	1.08B	1.39B	1.24B	2.17B	2.11B	1.35B	1.08B	1.24B	1.12B	1.72B	1.39B	1.23B	1.15B	984.50M	917.50M	827.10M	687.70M	674.80M	598.30M	570.10M
Cost & Expenses	11.70B	12.75B	11.97B	10.79B	10.20B	9.72B	8.49B	7.92B	7.80B	7.72B	6.36B	6.54B	6.04B	5.16B	4.76B	4.43B	4.78B	4.32B	4.00B	3.52B	3.63B	3.80B	6.55B	5.72B	3.67B	2.94B	3.33B	3.09B	4.73B	4.11B	3.54B	3.32B	2.87B	2.63B	2.26B	1.93B	1.94B	1.69B	1.55B
Interest Income	38.00M	15.00M	11.00M	15.00M	21.00M	38.00M	45.00M	32.00M	21.00M	26.00M	8.00M	14.00M	19.00M	11.00M	19.00M	85.00M	145.00M	0.00	0.00	0.00	0.00	0.00	0.00	104.60M	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Interest Expense	329.00M	292.00M	300.00M	276.00M	221.00M	191.00M	155.00M	159.00M	140.00M	123.00M	120.00M	111.00M	89.00M	109.00M	82.00M	59.00M	82.00M	0.00	0.00	0.00	0.00	0.00	0.00	106.60M	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Depreciation & Amortization	1.37B	1.45B	1.48B	1.52B	1.50B	1.29B	1.16B	1.20B	1.18B	1.20B	1.00B	997.00M	957.00M	854.00M	792.00M	695.00M	607.00M	591.00M	512.00M	523.00M	517.00M	661.00M	1.08B	520.00M	380.70M	298.00M	321.60M	288.10M	377.40M	338.40M	280.40M	248.20M	231.30M	211.20M	171.30M	153.90M	145.70M	130.10M	126.70M
EBITDA	2.51B	3.36B	3.77B	2.87B	3.16B	2.90B	2.77B	2.64B	2.52B	3.05B	2.46B	3.22B	4.26B	4.81B	2.81B	2.28B	1.98B	1.63B	1.18B	-968.00M	-27.00M	21.00M	729.00M	1.84B	1.14B	1.01B	968.50M	757.60M	744.20M	999.40M	741.10M	639.00M	615.70M	519.70M	353.80M	343.90M	292.80M	297.80M	263.60M
EBITDA Ratio	19.97%	22.48%	27.16%	17.33%	23.40%	27.28%	30.56%	30.83%	29.74%	50.22%	47.08%	42.09%	54.42%	64.76%	53.48%	38.67%	29.32%	27.48%	26.91%	69.85%	15.50%	62.04%	104.53%	36.89%	19.28%	23.06%	24.84%	21.46%	23.51%	21.84%	26.89%	15.82%	15.43%	11.52%	4.56%	4.48%	7.47%	11.79%	14.79%
Operating Income	890.00M	1.44B	2.11B	509.00M	1.31B	1.58B	1.63B	1.39B	1.32B	1.93B	1.37B	1.32B	1.69B	1.80B	391.00M	1.52B	1.08B	846.00M	613.00M	-1.45B	-655.00M	-2.72B	-6.00B	1.56B	631.20M	548.50M	761.40M	561.60M	586.90M	661.00M	460.70M	390.80M	384.40M	308.50M	182.50M	190.00M	147.10M	167.70M	136.90M
Operating Income Ratio	7.07%	10.13%	15.00%	4.50%	11.35%	13.95%	16.11%	14.81%	14.51%	19.88%	17.53%	16.49%	21.47%	27.16%	7.25%	25.55%	18.45%	16.35%	13.39%	-37.70%	-21.20%	-85.97%	-95.66%	21.38%	14.69%	15.74%	18.62%	15.38%	11.05%	13.86%	11.50%	10.54%	11.79%	10.49%	7.48%	8.96%	7.06%	9.03%	8.10%
Total Other Income/Expenses	-74.00M	359.00M	314.00M	114.00M	-90.00M	-72.00M	27.00M	2.27B	164.00M	1.64B	1.10B	791.00M	1.50B	2.04B	1.54B	3.00M	210.00M	115.00M	-54.00M	-127.00M	-104.00M	0.00	-63.00M	60.40M	-62.00M	-44.20M	-15.60M	-30.60M	-445.90M	-209.60M	-440.60M	-32.00M	37.40M	116.70M	193.80M	205.60M	97.30M	47.40M	-24.30M
Income Before Tax	816.00M	1.80B	2.40B	623.00M	1.22B	1.50B	1.66B	3.69B	1.49B	3.57B	2.47B	2.12B	3.21B	3.85B	1.93B	1.52B	1.29B	961.00M	572.00M	-1.58B	-759.00M	-2.72B	-6.11B	817.00M	665.50M	460.30M	667.00M	506.10M	103.90M	451.40M	20.10M	358.80M	421.80M	425.20M	376.30M	395.60M	244.40M	215.10M	112.60M
Income Before Tax Ratio	6.48%	12.66%	17.02%	5.51%	10.57%	13.31%	16.38%	39.32%	16.31%	36.73%	31.63%	26.42%	40.72%	57.98%	35.85%	25.61%	22.03%	18.57%	12.49%	-41.00%	-24.56%	-85.97%	-97.43%	11.23%	15.49%	13.21%	16.31%	13.86%	1.96%	9.46%	0.50%	9.67%	12.94%	14.46%	15.43%	18.65%	11.73%	11.59%	6.66%
Income Tax Expense	168.00M	411.00M	491.00M	111.00M	256.00M	437.00M	2.15B	-3.00M	147.00M	1.10B	512.00M	389.00M	408.00M	287.00M	-74.00M	-2.41B	80.00M	55.00M	578.00M	1.03B	-254.00M	-726.00M	-452.00M	407.00M	188.60M	132.80M	227.20M	163.20M	154.70M	170.10M	35.30M	92.50M	110.60M	136.10M	116.90M	103.20M	55.30M	52.90M	5.00M
Net Income	581.00M	1.32B	1.91B	512.00M	960.00M	1.07B	-497.00M	3.70B	1.34B	2.47B	1.96B	1.64B	2.82B	3.56B	2.01B	5.26B	2.15B	1.86B	585.00M	-2.17B	-223.00M	-1.30B	-5.50B	422.00M	516.00M	421.30M	439.80M	175.60M	-50.80M	281.30M	-15.20M	-12.60M	311.20M	289.10M	259.40M	292.40M	189.10M	162.20M	107.60M
Net Income Ratio	4.62%	9.27%	13.54%	4.53%	8.35%	9.44%	-4.91%	39.35%	14.70%	25.45%	25.08%	20.42%	35.70%	53.65%	37.22%	88.38%	36.69%	35.85%	12.78%	-56.18%	-7.22%	-41.15%	-87.66%	5.80%	12.01%	12.09%	10.75%	4.81%	-0.96%	5.90%	-0.38%	-0.34%	9.55%	9.83%	10.63%	13.78%	9.08%	8.74%	6.36%
EPS	0.69	1.56	1.30	0.54	1.11	1.13	-0.56	3.53	1.02	1.82	1.35	1.10	1.80	2.28	1.30	3.37	1.37	1.20	0.40	-1.56	-0.22	-1.27	-5.89	0.49	0.22	0.19	0.21	0.08	-0.07	0.44	-0.03	-0.02	0.09	0.09	0.08	0.05	0.03	0.03	0.02
EPS Diluted	0.68	1.54	1.28	0.54	1.07	1.13	-0.56	3.23	1.00	1.73	1.34	1.09	1.78	2.25	1.28	3.32	1.34	1.16	0.38	-1.56	-0.22	-1.27	-5.89	0.49	0.22	0.19	0.21	0.08	-0.07	0.44	-0.03	-0.02	0.09	0.09	0.08	0.05	0.03	0.03	0.02
Weighted Avg Shares Out	848.00M	843.00M	828.00M	761.00M	776.00M	941.00M	895.00M	1.02B	1.22B	1.31B	1.45B	1.49B	1.56B	1.56B	1.55B	1.56B	1.57B	1.55B	1.46B	1.39B	1.01B	1.03B	933.62M	859.18M	2.30B	694.50M	694.80M	686.10M	689.40M	634.55M	602.51M	582.28M	581.28M	551.68M	565.87M	533.68M	541.08M	518.73M	515.27M
Weighted Avg Shares Out (Dil)	859.00M	857.00M	844.00M	772.00M	899.00M	941.00M	895.00M	1.14B	1.34B	1.43B	1.46B	1.51B	1.58B	1.58B	1.57B	1.58B	1.57B	1.60B	1.54B	1.39B	1.01B	1.03B	933.62M	2.62B	2.39B	694.50M	694.80M	686.10M	689.40M	634.55M	602.51M	582.28M	581.28M	551.68M	565.87M	533.68M	541.08M	518.73M	515.27M

Corning (GLW) Raises Q2 Sales Forecast on Solid Demand

July 9, 2024zacks.com

Corning's (GLW) shares surge as it anticipates second-quarter core sales to surpass earlier expectations on healthy demand trends.

Corning (GLW) Stock Shimmers After Earnings. How Did It Become the Next AI Play?

July 9, 2024investorplace.com

Material science firm Corning (NYSE: GLW ) stock jumped after it raised second-quarter guidance. The maker of fiber optic cabling is now considered an artificial intelligence (AI) play.

Corning (GLW) Moves 12.0% Higher: Will This Strength Last?

July 9, 2024zacks.com

Corning (GLW) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock suggests that there could be more strength down the road.

The Cat's Out Of The Bag: Corning Stock Is Up Nearly 20% Just Weeks After Josh Brown Flagged It As 'Low-Key, Misunderstood' AI Play

July 8, 2024benzinga.com

Ritholtz Wealth Management's Josh Brown is already up nearly 20% on his Corning Incorporated GLW investment from last month. Although he's sitting on significant gains over a very short period of time, he's not selling as he continues to believe the...

Three AI Plays Led S&P 500 Stocks Monday

July 8, 2024investors.com

Corning and Super Micro were the S&P 500 index's top performers on Monday, while Chipotle was the biggest loser.

Corning shares pop 12% as AI boom drives stronger-than-expected demand for equipment

July 8, 2024cnbc.com

Corning said it expects Q2 sales of $3.6 billion, up from previous guidance of $3.4 billion. Q2 earnings are also expected to mark a return to year-over-year growth.

Corning jumps as AI data centre demand boosts return return to growth

July 8, 2024proactiveinvestors.com

Corning Inc (NYSE:GLW, ETR:GLW) climbed over 10% after the Gorilla Glass and optical fiber maker said that earnings and sales returned to growth in the last quarter, due to demand linked to the artificial intelligence trend. Management now expects $3.3 billion of...