Strong First Quarter Results
Corning delivered outstanding Q1 2025 results with a 13% year-over-year sales increase to $3.7 billion and EPS growth of 42% to $0.54, exceeding guidance.
Optical Communications Growth
The Optical Communications segment saw a significant year-over-year sales increase of 46% to $1.4 billion, driven by strong demand for products related to GenAI data centers.
High Confidence Springboard Plan
Corning reiterated its confidence in adding more than $4 billion in annualized sales and achieving a 20% operating margin by the end of 2026, driven by secular trends and innovation.
Display Segment Performance
Display sales grew 4% year-over-year to $905 million, with net income margins remaining strong at 26.9%, supported by double-digit price increases.
Strong Free Cash Flow Outlook
Corning expects to generate significant free cash flow in 2025, with Q1 being essentially breakeven, and is planning $1.3 billion in CapEx for the year.