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.
康寧公司（紐約證券交易所代碼：GLW）報告稱，2024財年第二季度核心銷售額同比增長4％，達到36.0億美元，超過了分析師共識估計的35.5億美元。
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.
這家蘋果公司玻璃供應商的核心每股收益爲0.47美元，超過了分析師共識估計的0.46美元。印刷後股價暴跌。
Display Technologies' sales grew by 9% year over year to $1.01 billion.
顯示技術的銷售額同比增長9％，達到10.1億美元。
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.
光通信銷售額同比增長4％，達到11.1億美元，反映了在人工智能相關連接解決方案的推動下，企業部分的銷售額創歷史新高。
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.
特種材料銷售額同比增長18％，達到5.01億美元，這得益於對高端智能手機封面材料和半導體相關產品的持續強勁需求。
Life Sciences sales increased by 8% year over year to $249 million.
生命科學銷售額同比增長8％，達到2.49億美元。
Environmental Technologies sales declined by 6% year over year to $431 million, reflecting the impact of the Class 8 truck downcycle in North America.
環境技術銷售額同比下降6％，至4.31億美元，反映了北美8級卡車下行週期的影響。
Hemlock and Emerging Growth Businesses sales declined 21% year over year to $296 million, primarily reflecting lower pricing for solar-grade polysilicon.
鐵杉和新興成長型企業的銷售額同比下降21％，至2.96億美元，這主要反映了太陽能級多晶硅價格的下跌。
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.
核心毛利率增長了170個點子至37.9％。調整後的自由現金流爲3.53億美元，去年同期爲3.1億美元。
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."
董事長兼首席執行官溫德爾·威克斯表示：“跑贏大盤的主要原因是生成式人工智能新光連接產品的強勁採用，這推動了我們光通信業務企業部分的銷售額創歷史新高。機會只會越來越大；事實上，在第三季度，我們與Lumen Technologies Inc（紐約證券交易所代碼：LUMN）達成協議，使用我們新的Gen-AI光纖和電纜系統來促進Lumen建立一個新的網絡，以互連支持人工智能的數據中心。”
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：康寧預計第三季度核心銷售額爲37.0億美元（共識爲37.5億美元），核心每股收益爲0.50美元至0.54美元（共識爲0.54美元）。
Price Action: GLW shares traded lower by 8.6% at $38.99 at last check Tuesday.
價格走勢：週二最後一次檢查時，GLW股價下跌8.6％，至38.99美元。
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Photo: Corning
照片：康寧