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Corning's strong Q3 performance and bullish outlook suggest GLW stock may trade higher, attracting long-term investors. Corning's Optical Communications unit benefits from new optical-connectivity products for generative AI, with potential growth from agreements with AT&T and Lumen Technologies. Corning expects operating margins to top 20% by 2026, driven by strong gross margins, cash flow, and technical capabilities.
Corning's recently published third-quarter results arrived with plenty for investors to be excited about.
GLW reports top-line growth year over year in the third quarter, owing to solid demand in the Enterprise end market.
Corning Incorporated (NYSE:GLW ) Q3 2024 Earnings Conference Call October 29, 2024 8:30 AM ET Company Participants Ann Nicholson - Vice President, Investor Relations Wendell Weeks - Chairman and Chief Executive Officer Edward Schlesinger - Executive Vice President and Chief Financial Officer Conference Call Participants Samik Chatterjee - JPMorgan Matthew Niknam - Deutsche Bank Steven Fox - Fox Advisors LLC Wamsi Mohan - Bank of America John Roberts - Mizuho Asiya Merchant - Citi Meta Marshall - Morgan Stanley Martin Yang - Oppenheimer James Cannon - UBS George Notter - Jefferies LLC Tim Long - Barclays Operator Good day and thank you for standing by. Welcome to the Corning Incorporated Quarter Three 2024 Earnings Conference Call.
Although the revenue and EPS for Corning (GLW) give a sense of how its business performed in the quarter ended September 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Corning (GLW) came out with quarterly earnings of $0.54 per share, beating the Zacks Consensus Estimate of $0.52 per share. This compares to earnings of $0.45 per share a year ago.
Gorilla Glass maker Corning fourth-quarter profit forecast beat estimates on Tuesday, as rising consumption of data over networks, including for generative AI model training, continues to increase demand for its optical fiber products.
Finding stocks expected to beat quarterly earnings estimates becomes an easier task with our Zacks Earnings ESP.
AT&T said on Monday it had struck a $1 billion multi-year deal with Corning to buy fiber, cable, and connectivity solutions, as the U.S. telecom giant looks to expand its high-speed internet services.
Beyond analysts' top -and-bottom-line estimates for Corning (GLW), evaluate projections for some of its key metrics to gain a better insight into how the business might have performed for the quarter ended September 2024.
GLW is expected to witness a top-line expansion year over year in the third quarter of 2024, backed by solid demand trends in several end markets.