Corning Stock Drops After Q3 Guidance Miss: CEO Highlights 'New Optical Connectivity Products For Generative AI'
Corning Stock Drops After Q3 Guidance Miss: CEO Highlights 'New Optical Connectivity Products For Generative AI'
Corning Inc (NYSE:GLW) reported a fiscal second-quarter 2024 core sales growth of 4% year-on-year to $3.60 billion, beating the analyst consensus estimate of $3.55 billion.
康宁公司（纽交所：GLW）报告了2024财年第二季度销售总额增长4％，同比达到36亿美元，超过分析师共识预期的35.5亿美元。
The Apple Inc glass supplier's core EPS of $0.47 beat the analyst consensus estimate of $0.46. The stock price plunged after the print.
这家苹果公司的玻璃供应商的核心每股收益为0.47美元，超过分析师共识预期的0.46美元。报告后股价下跌。
Display Technologies' sales grew by 9% year over year to $1.01 billion.
显示技术部门的销售同比增长9％，达到10.1亿美元。
Optical Communications sales increased by 4% year over year to $1.11 billion, reflecting record sales in the Enterprise portion of the business, driven by AI-related connectivity solutions.
光学通信部门的销售同比增长4％，达到11.1亿美元，反映出业务企业部分创下纪录的销售额增长，这得益于与人工智能相关的连接解决方案。
Specialty Materials sales increased by 18% year over year to $501 million, driven by continued strong demand for premium smartphone cover materials and semiconductor-related products.
特种材料部门的销售同比增长18％，达到50100万美元，受到高端智能手机覆盖材料和半导体相关产品需求持续强劲的推动。
Life Sciences sales increased by 8% year over year to $249 million.
生命科学部门的销售同比增长8％，达到24900万美元。
Environmental Technologies sales declined by 6% year over year to $431 million, reflecting the impact of the Class 8 truck downcycle in North America.
环保技术部门的销售同比下降6％，达到43100万美元，反映了北美8级卡车市场下行周期的影响。
Hemlock and Emerging Growth Businesses sales declined 21% year over year to $296 million, primarily reflecting lower pricing for solar-grade polysilicon.
银杏和新兴增长业务的销售同比下降21％，达到29600万美元，主要反映了太阳能级多晶硅价格下降。
The core gross margin increased by 170 bps to 37.9%. The adjusted free cash flow was $353 million versus $310 million a year ago.
核心毛利率提高了170个基点，达到37.9％。调整后的自由现金流为3.53亿美元，去年同期为3.10亿美元。
Chair and CEO Wendell P. Weeks said, "The outperformance was driven primarily by the strong adoption of our new optical connectivity products for generative AI, which drove record sales in the Enterprise portion of our Optical Communications business. The opportunity is only growing; in fact, in the third quarter, we reached an agreement with Lumen Technologies Inc (NYSE:LUMN) that uses our new gen-AI fiber and cable system to facilitate Lumen's build of a new network to interconnect AI-enabled data centers."
董事长兼首席执行官温德尔·P·维克斯表示：“这一超预期表现主要是由于我们新的光纤连接产品在生成式人工智能领域的广泛应用，这推动了光学通信业务的业务企业部门的销售创下了纪录。机遇只会越来越大；事实上，在第三季度，我们与Lumen Technologies Inc（纽交所：LUMN）达成了一项协议，使用我们的新一代人工智能光纤和电缆系统，以便Lumen构建连接人工智能数据中心的新网络。”
Outlook: Corning expects third-quarter core sales of $3.70 billion (consensus $3.75 billion) and core EPS of $0.50 – $0.54 (consensus $0.54).
展望：康宁公司预计第三季度核心销售额为37亿美元（市场共识：37.5亿美元），核心每股收益为0.50美元至0.54美元（市场共识：0.54美元）。
Price Action: GLW shares traded lower by 8.6% at $38.99 at last check Tuesday.
截至周二最后交易时，GLW股价下跌了8.6％至38.99美元。
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Photo: Corning
图片：康宁