Corning (GLW) stock took a beating on Tuesday following the release of the display technology company’s Q1 2026 earnings report. The company posted adjusted earnings per share of 70 cents, which came in just above Wall Street’s estimate of 69 cents. Corning’s adjusted EPS also grew 30% year-over-year.
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Corning also reported revenue of $4.14 billion, which failed to meet analysts’ estimates of $4.3 billion. That’s despite the company’s revenue having increased 20% from the same period of the prior year. Corning executive vice president and Chief Financial Officer, Ed Schlesinger, attributed the company’s revenue growth to Optical Communications and Solar businesses. He noted the Solar business reported an 80% increase in revenue year-over-year.
Corning stock was down 6.93% on Tuesday but was still up 78.92% year-to-date. Investors will also note that the stock has rallied 277.89% over the past 12 months.
Corning Guidance
Corning also provided investors with a guidance update in its latest earnings report. Here is what the company expects in Q2 2026:
- Core sales growth of about 14% year-over-year to roughly $4.6 billion.
- Adjusted EPS growth of about 25% year-over-year to a range of 73 cents to 77 cents.
- The company’s Q2 guidance accounts for the extended maintenance shutdown of its solar wafer facility.
Wendell Weeks, chairman and CEO of Corning, said, “Based on strong demand for our innovations, we plan to upgrade and extend our Springboard plan through 2030 at our May 6 investor event. We will introduce our new Photonics Market-Access Platform and explain the underlying technical and demand trends driving our Gen AI product development.”
Is Corning Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for Corning is Moderate Buy, based on seven Buy and five Hold ratings over the past three months. With that comes an average GLW stock price target of $148.82, representing a potential 7.31% downside for the shares. These ratings and price targets will likely change as analysts update their coverage after today’s earnings report.
