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Corning | 10-Q: Q3 2024 Earnings Report

Corning | 10-Q: Q3 2024 Earnings Report

康宁 | 10-Q：2024财年三季报
美股SEC公告 ·  2024/11/01 11:02

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Corning reported Q3 2024 revenue of $3.39 billion, up 7% YoY, driven by a 36% increase in Optical Communications sales to $1.25 billion. Core earnings per share rose 20% to $0.54. However, GAAP net loss was $117 million due to restructuring charges and foreign currency impacts.Core net income increased 20% to $465 million, boosted by strong performance in Optical Communications and Display Technologies segments. The company highlighted continued strong adoption of AI-related connectivity solutions in its Enterprise business. Display Technologies sales grew 4% to $1.02 billion on higher volume and pricing actions.Corning maintained its full-year outlook, expecting Q4 core sales of approximately $3.75 billion. The company reported progress on its three-year Springboard plan to add over $3 billion in annualized core sales and achieve 20% core operating margin by 2026. Management expressed confidence in delivering consistent profitability in Display Technologies and strong growth in Optical Communications driven by new AI products.
Corning reported Q3 2024 revenue of $3.39 billion, up 7% YoY, driven by a 36% increase in Optical Communications sales to $1.25 billion. Core earnings per share rose 20% to $0.54. However, GAAP net loss was $117 million due to restructuring charges and foreign currency impacts.Core net income increased 20% to $465 million, boosted by strong performance in Optical Communications and Display Technologies segments. The company highlighted continued strong adoption of AI-related connectivity solutions in its Enterprise business. Display Technologies sales grew 4% to $1.02 billion on higher volume and pricing actions.Corning maintained its full-year outlook, expecting Q4 core sales of approximately $3.75 billion. The company reported progress on its three-year Springboard plan to add over $3 billion in annualized core sales and achieve 20% core operating margin by 2026. Management expressed confidence in delivering consistent profitability in Display Technologies and strong growth in Optical Communications driven by new AI products.
康宁报告2024年第三季度营业收入为33.9亿，较去年同期增长7%，这得益于光通信销售增长36%至12.5亿。核心每股收益增长20%至0.54。但由于重组费用和外汇影响，GAAP净亏损为11700万。核心净利润增加20%至46500万，受到光通信和苹果-显示屏技术部门强劲表现的推动。公司强调其企业业务中与人工智能相关的连接解决方案的持续强劲采用。苹果-显示屏技术销售增长4%至10.2亿，主要得益于成交量和定价措施的提高。康宁维持全年前景，预计第四季度核心销售约为37.5亿。公司报道其三年春板计划的进展，该计划旨在在2026年前增加逾30亿的年化核心销售，并实现20%的核心营业利润率。管理层对在苹果-显示屏技术中实现稳定的盈利能力和在光通信中通过新人工智能产品推动强劲增长表达了信心。
康宁报告2024年第三季度营业收入为33.9亿，较去年同期增长7%，这得益于光通信销售增长36%至12.5亿。核心每股收益增长20%至0.54。但由于重组费用和外汇影响，GAAP净亏损为11700万。核心净利润增加20%至46500万，受到光通信和苹果-显示屏技术部门强劲表现的推动。公司强调其企业业务中与人工智能相关的连接解决方案的持续强劲采用。苹果-显示屏技术销售增长4%至10.2亿，主要得益于成交量和定价措施的提高。康宁维持全年前景，预计第四季度核心销售约为37.5亿。公司报道其三年春板计划的进展，该计划旨在在2026年前增加逾30亿的年化核心销售，并实现20%的核心营业利润率。管理层对在苹果-显示屏技术中实现稳定的盈利能力和在光通信中通过新人工智能产品推动强劲增长表达了信心。
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