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Corning Inc  (GLW)
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    Sector  Technology    Industry Communications Equipment


 

Corning Inc

GLW's Financial Statements and Analysis



Corning Inc reported in the first quarter of 2024 net earnings per share of $0.24 an increase by 20 % year on year from $0.20 and an improvement compare to net loss per share of $-0.05 realized in previous quarter.


first quarter of 2024
Earnings Per Share Revenues
$ 0.24 $  2,975 Mill
$+0.04     +20 % $-203M     -6.39 %



Corning Inc's Revenue fell by -6.39 % in first quarter of 2024 (Mar 31 2024) year on year, to $2,975 million and declined by -0.63 % sequentially.


Corning Inc is

More on GLW's Income Statement



Corning Inc 's net income of $225.000 million in the first quarter of 2024 increased by 17.8 % from net earnings of $191.000 million achieved in I. Quarter a year ago.

Sequentially Company turn into Profitability from net loss of $-28.000 million recorded in previous quarter.

More on GLW's Growth




Corning Inc Inventories
Inventories declined by -5.24 % to $2,713.00 million from I. Quarter a year ago, sequentially inventories rose by 1.76 %. In Mar 31 2024 company's net cash and cash equivalents decreased by $-414 million, capital expenditures grew by -382-34.03%, to $-252 millions compare to same quarter a year ago

More on GLW's Cash flow Statement


Corning Inc payed out dividend of $1.16 per share in last 52 weeks representing 163.38 % of net earning per share in trailing twelve-month period.

During the same period Corning Inc earned $ 2.47 cash per share, on a free-cash flow basis 347.73 % of net earning per share.

Book value fell by -4.44 % sequentially to $13.27 per share.
Tangible Book value fell to $ 9.55 per share from $ 10.05.

Company issued 16.42 million shares or 1.92 % in Mar 31 2024.
Debt Coverage Ratio was 0.07.

More on GLW's Dividends

 Market Capitalization (Millions) 39,727
 Shares Outstanding (Millions) 871
 Total Debt (Millions $) 7,368
 Revenue (TTM) (Millions $) 12,385
 Net Income (TTM) (Millions $) 682
 Cash Flow (TTM) (Millions $) 219
 Capital Exp. (TTM) (Millions $) -1,260
 Dividend TTM ($) 1.16 $
 Dividend Yield TTM (%) 2.46 %
 Employees (TTM) $ 61,200




Corning Inc payed out dividend of $1.16 per share in the last 52 weeks representing 163.38 % of net earning per share in trailing twelve-month period.

During the same period Corning Inc had $ 2.47 cash flow per share, on a free-cash flow basis 347.73 % of net earning per share.

Book value fell by -4.44 % sequentially to $13.27 per share.
Tangible Book value fell to $ 9.55 per share from $ 10.05.

Company issued 16.42 million shares or 1.92 % in Mar 31 2024.
Debt Coverage Ratio was 0.07.

More on GLW's Balance Sheets

 Market Capitalization (Millions) 39,727
 Shares Outstanding (Millions) 871
 Total Debt (Millions $) 7,368
 Revenue (TTM) (Millions $) 12,385
 Net Income (TTM) (Millions $) 682
 Cash Flow (TTM) (Millions $) 219
 Capital Exp. (TTM) (Millions $) -1,260
 Dividend TTM ($) 1.16 $
 Dividend Yield TTM (%) 2.46 %
 Employees (TTM) $ 61,200
   


  News about Corning Inc Earnings

2. Corning Inc. Shows Resilience Amidst Declining Revenue: A Closer Look at the Company's First-Quarter Financial Results

Corning Inc. has recently reported its first-quarter financial results for 2024, showing its resilience in the face of challenging market conditions. Despite a weak revenue in the first quarter, the company managed to grow its earnings per share, with income surging by 20% to $0.24 per share. However, revenue fell by 6.388% to $2.98 billion compared to the prior year.
The positive news is that Corning Inc. expects improving market conditions in the near future. The company's chairman and CEO, Wendell P. Weeks, highlighted that the first quarter is likely to be the low point for the year and expressed optimism about the future. This suggests that Corning Inc. is well-positioned to capitalize on improving ...

GLW Faces Shortfall as Weak Sales Plague Fourth Quarter of 2023

Corning Inc Faces Challenges but Shows Promise for Future Growth
Corning Inc, a leading communications equipment company, recently released its financial reports for the fourth quarter of 2023 and the full fiscal year. While the numbers presented some concerning trends, the company's long-term potential and recent improvements in its stock performance suggest a bullish outlook.
In the fourth quarter of 2023, Corning Inc experienced a deficit per share of $-0.05 compared to $-0.04 in the same period the previous year. Earnings per share also fell from $0.19 to $0.05, indicating a challenging period for the company. Additionally, revenue receded significantly by -12.096%, dropping from $3.41 billion to...

Corning Inc.'s Third Quarter Report: Revenue Plunges in Single Digits, Sending Shockwaves Through the Communications Equipment Industry

/>Corning Inc., a global leader in advanced glass and ceramic technologies, recently released its financial results for the third quarter of 2023. The report indicates a decline in both revenue and profit, making it an interesting case study for investors and analysts alike. This article aims to shed light on the key facts and implications of the company's performance during the July to September 30, 2023 period.
Revenue and Profitability Decline:
Corning's financial report reveals a significant drop in its income and profit compared to the previous year. The company's income fell by -20.83% to $0.19 per share, down from $0.24 per share a year earlier. Additionally, the profit plummeted by -42.42% to...

Corning Inc. Announces Unexpected Downturn in Q2 2023 - Earnings and Revenue Take a Hit Due to Major Drop



Corning Inc, a leading technology company, recently released its financial results for the second quarter of 2023. The report indicates a significant decline in both revenues and earnings per share (EPS) compared to the same period last year. Furthermore, several key financial metrics, including operating and net margins, experienced a significant downturn. These results suggest a challenging quarter for Corning Inc, impacting investor sentiment.
Financial Results:
- Revenues: Corning Inc experienced a 10.29% year-on-year decline in revenue, amounting to $3.24 billion compared to the previous year's $3.62 billion.
- EPS Plummeted: The company's EPS plummeted by 50%, falling to $0.33 in ...

Very demanding three months at Corning Inc amid the January to March 31 2023 period

Corning Inc is facing dire financial straits, with its latest fiscal period reporting a significant decline in earnings per share, revenue, and net earnings. In this period, the EPS has plummeted by a whopping 70.59% to a mere $0.20 per share. This is a stark contrast to the $0.68 per share that the company had been generating a year earlier. Moreover, the company's EPS turned positive from $-0.04 per share from the prior reporting season. This kind of plummet in earnings per share is not a comforting sign for investors.
A significant factor exacerbating this downturn is the immense decrease in revenue. The revenue has fallen by 13.641%, amounting to $3.18 billion from the previous $3.68 billion in the c...


Date modified: 2024-05-03T14:17:18+00:00





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