Corning Accelerates Toward $20 Billion Run Rate with Verizon Data-Center Deal
Corning Inc. (GLW) is on track to achieve a $20 billion annualized sales run rate in the third quarter of 2026, ahead of its previous expectations. This growth is being driven by strong demand for optical communications and data-center connectivity solutions, particularly through new multi-year agreements with Verizon Communications (VZ), Lumen Technologies (LUMN), and Zayo Group Holdings. The company's CFO, Ed Schlesinger, highlighted that the deals are accelerating Corning’s path to a $1 billion annual revenue opportunity in data-center interconnects. These contracts support its long-term 'Springboard' growth plan, which aims for sales of $20 billion by 2026 and $40 billion by 2030. Schlesinger also noted that Corning expects continued high-teens year-over-year revenue growth into the fourth quarter and beyond. In addition to data-center demand, improving solar conditions and higher-value product sales are supporting profitability. The company anticipates operating margins above 20% and growing free cash flow.
Topics: data-center connectivity optical communications sales growth Verizon agreement