Corning: Fourth Quarter Earnings Overview

Corning Inc. Announces Strong Fourth-Quarter Financial Results

Corning Inc., headquartered in Corning, New York, revealed on Wednesday that it achieved a net profit of $540 million for the fourth quarter.

The company reported earnings of 62 cents per share, while adjusted earnings—which exclude one-time and restructuring expenses—came in at 72 cents per share.

These figures surpassed analysts’ predictions, as the consensus from six analysts polled by Zacks Investment Research had anticipated earnings of 70 cents per share.

During the quarter, the specialty glass manufacturer generated $4.22 billion in revenue. When adjusted, revenue reached $4.41 billion, exceeding the $4.32 billion average forecast from five Zacks analysts.

Looking ahead to the quarter ending in March, Corning projects earnings per share to fall between 66 and 70 cents.

The company also expects first-quarter revenue to be in the range of $4.2 billion to $4.3 billion.