Corning upgrades, extends Springboard plan

Corning (GLW) Incorporated will hold an investor event at the New York Stock Exchange to upgrade and extend its Springboard plan, driven by growth across its Market-Access Platforms. The company expects to reach its target of a $20B annualized sales run rate by the end of 2026, delivering a 15% sales CAGR from Q4 2023 to Q4 2026. Entering 2027, Corning will begin a new phase of accelerating growth, and the company expects a significantly higher sales CAGR of 19% from Q4 2026 to Q4 2030. Wendell Weeks, CEO, said, “As we enter a new phase of accelerating growth in 2027, we expect important contributions and milestones in each of our Market-Access Platforms. At today’s event, we will focus on our overall corporate outlook for this exciting period. We will also take a deeper dive on the technical trends driving our new Photonics MAP, as well as stronger growth in our Enterprise Networks MAP. In our Enterprise MAP, we expect to capture strong growth as AI data center cluster size increases in scale out – and optical scale up takes hold. In our new Photonics MAP, we plan to build a $10 billion revenue stream by 2030. Our newly announced partnership with NVIDIA to strengthen U.S. manufacturing for AI infrastructure highlights our opportunity with Gen AI OEM customers.”