Corning Q3 Earnings Beat Expectations With 8% Core Sales Growth, Optical Communications Segment Shines
Corning Q3 Earnings Beat Expectations With 8% Core Sales Growth, Optical Communications Segment Shines
Corning Inc (NYSE:GLW) shares are trading higher after the company reported third-quarter 2024 results.
康宁公司（纽交所：GLW）的股价在该公司报告2024年第三季度业绩后上涨。
Core sales growth of 8% year-on-year to $3.73 billion, beating the analyst consensus estimate of $3.72 billion.
核心销售增长同比增长8%，达到37.3亿美元，超过分析师共识预估的37.2亿美元。
The Apple glass supplier's core EPS of 54 cents beat the analyst consensus estimate of 52 cents.
这家苹果玻璃供应商的核心每股收益为54美分，超过分析师共识预估的52美分。
- Display Technologies' sales grew by 4% year-over-year to $1.015 billion.
- Optical Communications sales increased by 36% year-over-year to $1.246 billion — record sales in the Enterprise portion of the business (up 55%).
- Specialty Materials sales fell 3% year over year to $548 million in the quarter.
- Life Sciences sales increased by 6% year-over-year to $244 million
- Environmental Technologies sales declined by 15% year-over-year to $382 million.
- Hemlock and Emerging Growth Businesses sales declined 9% year over year to $298 million in the quarter.
- The core gross margin increased by 220 bps to 39.2%. The adjusted free cash flow was $553 million in the quarter.
- 显示技术部门的销售同比增长4%，达到10.15亿美元。
- 光通信业务的销售同比增长36%，达到12.46亿美元——业务企业部门创下纪录的销售额（增长55%）。
- 特种材料部门的销售同比下降3%，降至54800万美元。
- 生命科学部门的销售同比增长6%，达到24400万美元。
- 环保技术部门的销售同比下降15%，降至38200万美元。
- 铁杉和新兴增长业务销售额同比下降9%，降至29800万美元。
- 核心毛利率增加了220个基点，达到39.2%。调整后的自由现金流为55300万美元。
Outlook: Corning expects fourth-quarter core sales of $3.75 billion (consensus $3.67 billion) and core EPS of $0.53-$0.57 (consensus $0.52).
展望: 康宁预计第四季度核心销售额为37.5亿美元（共识为36.7亿美元），核心每股收益为0.53-0.57美元（共识为0.52美元）。
Chair and CEO Wendell P. Weeks said, "In Display Technologies, we implemented price increases and expect to deliver segment net income of $900 million to $950 million in 2025 and to maintain net income margin of 25%. Additionally, in Optical Communications, our new products for generative AI are seeing strong demand and driving record year-over-year growth in our Enterprise business."
董事长兼首席执行官温德尔·P·威克斯表示：“在显示技术方面，我们实施了价格上涨，并预计2025年段净利润为95000万美元，并保持净利润率为25%。另外，在光通信方面，我们针对生成式人工智能的新产品需求旺盛，刺激了企业业务同比创下历史记录的增长。”
Yesterday, Corning inked a multi-year agreement with AT&T, which is valued at over $1 billion.
昨天，康宁与AT&T签订了一项为期多年的协议，价值超过10亿美元。
In September, Corning provided significant updates to its "Springboard" plan of adding more than $3 billion in annualized sales and shared its strategy to achieve a 20% operating margin by the end of 2026.
今年9月，康宁对其“Springboard”计划进行了重要更新，计划年销售额增加超过30亿美元，并分享了实现2026年底20%营业利润率的策略。
Investors can gain exposure to GLW via ProShares Smart Materials ETF (NYSE:TINT) and Professionally Managed Portfolios Otter Creek Focus Strategy ETF (NYSE:OCFS).
投资者可以通过ProShares智能材料etf（纽交所：TINT）和职业管理投资组合Otter Creek Focus策略etf（纽交所：OCFS）获得对GLW的敞口。
Price Action: GLW shares are up 8.24% at $50.70 premarket at the last check Tuesday.
股价走势: GLW股价在周二最后一次检查时盘前上涨8.24%，报50.70美元。
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