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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 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.
康宁公布2024年第三季度营业收入为33.9亿，较去年同期增长7%，主要得益于光通信领域的强劲增长。然而，公司录得净亏损11700万，而2023年第三季度的净利润为16400万，受外汇损失和重组费用的影响。毛利率从去年的32%提高到34%。光通信部门引领了增长，销售额增长36%，达到12.5亿，得益于人工智能相关连接解决方案的强劲采纳。苹果-显示屏科技的营业收入增长4%，达到10.2亿，主要由于面板制造商的利用率提高和价格调整，而环保母基科技因北美卡车市场的下滑而下降15%。管理层预计2024年第四季度的核心销售约为37.5亿，因为关键领域的势头仍在继续。公司仍专注于执行其三年春板计划，以在2026年前新增超过30亿的年化核心销售额，并实现20%的核心营业利润率，这得益于对人工智能相关产品的强劲需求和在显示技术方面的领导地位。
康宁公布2024年第三季度营业收入为33.9亿，较去年同期增长7%，主要得益于光通信领域的强劲增长。然而，公司录得净亏损11700万，而2023年第三季度的净利润为16400万，受外汇损失和重组费用的影响。毛利率从去年的32%提高到34%。光通信部门引领了增长，销售额增长36%，达到12.5亿，得益于人工智能相关连接解决方案的强劲采纳。苹果-显示屏科技的营业收入增长4%，达到10.2亿，主要由于面板制造商的利用率提高和价格调整，而环保母基科技因北美卡车市场的下滑而下降15%。管理层预计2024年第四季度的核心销售约为37.5亿，因为关键领域的势头仍在继续。公司仍专注于执行其三年春板计划，以在2026年前新增超过30亿的年化核心销售额，并实现20%的核心营业利润率，这得益于对人工智能相关产品的强劲需求和在显示技术方面的领导地位。
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