$GLW · CORNING INC /NY
Corning reported Q3 2026 results that exceeded guidance, with GAAP revenue of $4.86B (+18% YoY) and GAAP EPS of $0.78 (+56% YoY). Core sales hit $5.08B (+19% YoY) and core EPS reached $0.91 (+36% YoY). Optical Communications led with 44% YoY sales growth to $2.38B, driven by 84% growth in Enterprise Networks and Gen AI product sales more than doubling. The company issued Q4 guidance for core sales of $5.2B–$5.3B and core EPS of $0.96–$1.00, both representing approximately 19% and 36% YoY growth respectively. Corning also secured four long-term multibillion-dollar customer agreements during the quarter, including with Verizon and AT&T.
- GAAP revenue $4.86B (+18% YoY); core revenue $5.08B (+19% YoY), strongest growth since Springboard launch.
- GAAP EPS $0.78 (+56% YoY); core EPS $0.91 (+36% YoY), growing nearly twice as fast as core sales.
- Optical Communications revenue surged 44% YoY to $2.38B; Enterprise Networks up 84%, Gen AI product sales more than doubled.
- Q4 guidance: core sales $5.2B–$5.3B (~19% YoY), core EPS $0.96–$1.00 (~36% YoY).
- Core gross margin expanded 150 bps to 40.5%; core operating margin up 310 bps to 22.7%; core ROIC reached 16.7%.
Extended-hours trading shows GLW at $132.00, +3.29% vs the regular-session close of $127.80, reflecting a positive reaction to the beat-and-raise quarter. The $110.09B market-cap company delivered core sales and EPS above guidance with a strong Q4 outlook, reinforcing the Springboard growth acceleration narrative.
Corning's beat-and-raise quarter validates the "20-30-40" Springboard acceleration thesis, with Gen AI-driven Optical Communications growth and multibillion-dollar customer lock-ins providing multi-year revenue visibility.
Corning's Optical Communications segment is riding the Gen AI infrastructure buildout, with 84% Enterprise Networks growth and Gen AI product sales doubling YoY — outpacing GPU unit growth. The four multibillion-dollar customer agreements (including Verizon and AT&T) signal durable demand visibility in the fiber/optical networking supply chain.
Solar segment posted a $7M net loss as production ramped slower than anticipated; U.S. Section 232 trade action may help pricing but adds policy dependency. Glass Innovations revenue declined 3% YoY, pressured by memory pricing impacts on TV, notebook, and smartphone markets.