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Corning | 10-Q: Q3 2024 Earnings Report

Corning | 10-Q: Q3 2024 Earnings Report

康寧 | 10-Q：2024財年三季報
美股SEC公告 ·  2024/11/01 23:02

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Corning reported Q3 2024 revenue of $3.39 billion, up 7% year-over-year, driven by strong growth in Optical Communications. However, the company posted a net loss of $117 million compared to net income of $164 million in Q3 2023, impacted by foreign currency losses and restructuring charges. Gross margin improved to 34% from 32% last year.The Optical Communications segment led growth with sales increasing 36% to $1.25 billion, boosted by strong adoption of AI-related connectivity solutions. Display Technologies revenue rose 4% to $1.02 billion on higher panel maker utilization and pricing actions, while Environmental Technologies declined 15% due to the North American truck market downturn.Management expects Q4 2024 core sales of approximately $3.75 billion as momentum continues in key segments. The company remains focused on executing its three-year Springboard plan to add over $3 billion in annualized core sales and achieve 20% core operating margin by 2026, supported by strong demand for AI-related products and display technology leadership.
Corning reported Q3 2024 revenue of $3.39 billion, up 7% year-over-year, driven by strong growth in Optical Communications. However, the company posted a net loss of $117 million compared to net income of $164 million in Q3 2023, impacted by foreign currency losses and restructuring charges. Gross margin improved to 34% from 32% last year.The Optical Communications segment led growth with sales increasing 36% to $1.25 billion, boosted by strong adoption of AI-related connectivity solutions. Display Technologies revenue rose 4% to $1.02 billion on higher panel maker utilization and pricing actions, while Environmental Technologies declined 15% due to the North American truck market downturn.Management expects Q4 2024 core sales of approximately $3.75 billion as momentum continues in key segments. The company remains focused on executing its three-year Springboard plan to add over $3 billion in annualized core sales and achieve 20% core operating margin by 2026, supported by strong demand for AI-related products and display technology leadership.
康寧公佈2024年第三季度營業收入爲33.9億，較去年同期增長7%，主要得益於光通信領域的強勁增長。然而，公司錄得淨虧損11700萬，而2023年第三季度的凈利潤爲16400萬，受外匯損失和重組費用的影響。毛利率從去年的32%提高到34%。光通信部門引領了增長，銷售額增長36%，達到12.5億，得益於人工智能相關連接解決方案的強勁採納。蘋果-顯示屏科技的營業收入增長4%，達到10.2億，主要由於面板製造商的利用率提高和價格調整，而環保母基科技因北美卡車市場的下滑而下降15%。管理層預計2024年第四季度的核心銷售約爲37.5億，因爲關鍵領域的勢頭仍在繼續。公司仍專注於執行其三年春板計劃，以在2026年前新增超過30億的年化核心銷售額，並實現20%的核心營業利潤率，這得益於對人工智能相關產品的強勁需求和在顯示技術方面的領導地位。
康寧公佈2024年第三季度營業收入爲33.9億，較去年同期增長7%，主要得益於光通信領域的強勁增長。然而，公司錄得淨虧損11700萬，而2023年第三季度的凈利潤爲16400萬，受外匯損失和重組費用的影響。毛利率從去年的32%提高到34%。光通信部門引領了增長，銷售額增長36%，達到12.5億，得益於人工智能相關連接解決方案的強勁採納。蘋果-顯示屏科技的營業收入增長4%，達到10.2億，主要由於面板製造商的利用率提高和價格調整，而環保母基科技因北美卡車市場的下滑而下降15%。管理層預計2024年第四季度的核心銷售約爲37.5億，因爲關鍵領域的勢頭仍在繼續。公司仍專注於執行其三年春板計劃，以在2026年前新增超過30億的年化核心銷售額，並實現20%的核心營業利潤率，這得益於對人工智能相關產品的強勁需求和在顯示技術方面的領導地位。
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