NYSE$GLW
Corning Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Reported second-quarter 2023 financial results, showing progress on profitability and cash flow.
Corning's second-quarter results reflect progress on the company's plan to improve profitability and cash flow, despite a weak end-market environment. Core gross margin expanded sequentially, and free cash flow improved to $310 million.
- GAAP sales were $3.2 billion, up 2% sequentially.
- Core sales were $3.5 billion, up 3% sequentially, driven by Display Technologies.
- Core operating income increased 16% sequentially.
- Free cash flow grew to $310 million.
Headline financials
Revenue & EPS history
Corning · Revenue · Quarterly
$3.24B
Revenue by segment
Corning · $2.65B total across 4 segments · Q2 2023
- Optical Comm$1.07B-17.7%40.3%
- Display$928M+5.7%35.0%
- Specialty Materials$423M-12.8%16.0%
- Life Sciences$231M-26.0%8.7%
Forward guidance
In the third quarter, management expects core sales of approximately $3.5 billion and core EPS to be about the same or slightly better than in the second quarter.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2023
+0.1%
Avg return
Earnings day
-0.1%
Avg return
5 days after
+2.1%
Avg return
30 days after
49%
36 / 73 earnings
Positive
+14.9%
Q4 2021
Best reaction
-9.9%
Q2 2014
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.8% | -5.8% | +9.0% | |
| Q4 2025 | -5.0% | +0.6% | +37.0% | |
| Q3 2025 | -3.3% | -0.3% | -6.5% | |
| Q2 2025 | -1.9% | +1.2% | +6.0% | |
| Q1 2025 | +0.8% | +3.8% | +13.3% | |
| Q4 2024 | -2.8% | +0.2% | -2.1% | |
| Q3 2024 | +2.6% | +3.2% | +2.9% | |
| Q2 2024 | -6.3% | -8.8% | -1.9% | |
| Q1 2024 | +5.3% | +6.1% | +16.3% | |
| Q4 2023 | +4.3% | +3.5% | +3.5% | |
| Q3 2023 | -0.6% | -1.3% | +4.6% | |
| Q2 2023 | +3.6% | +1.7% | -3.7% | |
| Q1 2023 | -4.2% | -1.3% | -7.8% | |
| Q4 2022 | -3.1% | -1.8% | -5.2% | |
| Q3 2022 | +0.2% | +0.5% | +4.9% | |
| Q2 2022 | +4.2% | +6.6% | +3.9% | |
| Q1 2022 | +4.8% | +2.2% | +2.3% | |
| Q4 2021 | +14.9% | +19.1% | +16.4% | |
| Q3 2021 | -8.3% | -7.9% | +1.1% | |
| Q2 2021 | -0.5% | +1.9% | -2.1% | |
| Q1 2021 | -3.7% | -4.0% | -6.0% | |
| Q4 2020 | -2.0% | -3.4% | +2.9% | |
| Q3 2020 | -7.4% | -6.7% | +8.9% | |
| Q2 2020 | +3.2% | +1.2% | +4.9% | |
| Q1 2020 | +3.9% | -4.5% | +6.6% | |
| Q4 2019 | -1.1% | -3.9% | -14.8% | |
| Q3 2019 | -0.7% | -3.4% | -4.1% | |
| Q2 2019 | -9.8% | -14.1% | -18.7% | |
| Q1 2019 | -4.2% | -5.2% | -13.5% | |
| Q4 2018 | +10.4% | +9.0% | +14.7% | |
| Q3 2018 | -1.7% | -0.5% | -0.4% | |
| Q2 2018 | +12.7% | +10.4% | +10.6% | |
| Q1 2018 | -1.6% | -1.0% | -0.6% | |
| Q4 2017 | -8.8% | -8.7% | -17.1% | |
| Q3 2017 | +5.1% | +5.0% | +6.0% | |
| Q2 2017 | -8.2% | -9.3% | -10.8% | |
| Q1 2017 | +3.2% | +4.8% | +7.4% | |
| Q4 2016 | +7.7% | +7.7% | +11.3% | |
| Q3 2016 | -3.6% | -5.1% | +1.3% | |
| Q2 2016 | +2.7% | +2.7% | +4.4% | |
| Q1 2016 | -8.0% | — | — | |
| Q4 2015 | +6.9% | — | — | |
| Q3 2015 | +8.7% | — | — | |
| Q2 2015 | +0.5% | — | — | |
| Q1 2015 | -4.6% | — | — | |
| Q4 2014 | +1.3% | — | — | |
| Q3 2014 | +5.5% | — | — | |
| Q2 2014 | -9.9% | — | — | |
| Q1 2014 | +0.6% | — | — | |
| Q4 2013 | -5.8% | — | — | |
| Q3 2013 | -2.4% | — | — | |
| Q2 2013 | -1.3% | — | — | |
| Q1 2013 | +8.4% | — | — | |
| Q4 2012 | -1.2% | — | — | |
| Q3 2012 | -9.8% | — | — | |
| Q4 2011 | +1.7% | — | — | |
| Q2 2012 | -7.0% | — | — | |
| Q1 2012 | +7.1% | — | — | |
| Q3 2011 | +8.4% | — | — | |
| Q2 2011 | -2.3% | — | — | |
| Q1 2011 | -0.9% | — | — | |
| Q4 2010 | -1.9% | — | — | |
| Q3 2010 | +0.3% | — | — | |
| Q2 2010 | +5.5% | — | — | |
| Q1 2010 | +1.0% | — | — | |
| Q4 2007 | +1.1% | — | — | |
| Q2 2009 | +1.1% | — | — | |
| Q4 2009 | +1.1% | — | — | |
| Q3 2008 | -0.1% | — | — | |
| Q3 2009 | -0.1% | — | — | |
| Q1 2009 | +0.2% | — | — | |
| Q4 2008 | +0.2% | — | — | |
| Q2 2008 | +0.2% | — | — |
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