Corning Reports Q3 Growth Driven by Springboard Plan; Projects Strong Q4 Results
Corning Incorporated (GLW) reported strong third-quarter results, with sales increasing 19% year-over-year to $5.1 billion. Earnings per share (EPS) saw a significant boost of 36%, reaching $0.91, both of which exceeded the company's previous guidance. CEO Wendell Weeks characterized this quarter as an inflection point for the company's 'Springboard' growth strategy, noting that the run rate for this initiative has now surpassed $20 billion. Looking ahead to the fourth quarter, Corning projects sales between $5.2 billion and $5.3 billion, with expected EPS in the range of $0.96 to $1.00.
Tickers: $GLW
Topics: earnings report EPS growth management commentary revenue growth
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