Corning beats Q2 core EPS estimates as AI data center demand and margin expansion support results.
Stock Earnings Results
July 28, 2026
Table of Contents
July 28, 2026
Corning Incorporated (NYSE: GLW) reported second-quarter 2026 results with core EPS above expectations, strong core sales growth, margin expansion, higher adjusted free cash flow, and accelerating demand tied to AI data center infrastructure, while reported revenue came in below estimates.
Corning is a materials science company that develops glass, ceramics, optical fiber, advanced optics, display materials, automotive technologies, solar products, semiconductor materials, and life sciences products.
The company reported core EPS of $0.78, above estimates of $0.76, representing a 2.6% earnings surprise. Revenue came in at $4.50 billion, below estimates of $4.60 billion, though revenue growth was 16.6%.
GAAP sales increased 17% year-over-year to $4.51 billion.
Core sales increased 17% to $4.74 billion.
GAAP EPS was $0.64, up 19% from the prior-year quarter.
Core EPS was $0.78, up 30%.
Core gross margin expanded 120 basis points to 39.6%.
Core operating margin expanded 190 basis points to 20.9%.
GAAP operating cash flow was $1.72 billion.
Adjusted free cash flow was $1.42 billion.
Optical Communications sales increased 32% to $2.07 billion.
The segment was helped by demand for data center infrastructure and optical connectivity.
Enterprise Networks sales increased 65%.
Corning said Gen AI product sales grew significantly faster.
The company also highlighted major customer partnerships with Amazon and NVIDIA tied to optical fiber, cable, connectivity solutions, and U.S. manufacturing capacity expansion.
Amazon announced a multiyear, multibillion-dollar agreement for Corning to supply optical fiber, cable, and connectivity solutions for its expanding U.S. data center infrastructure.
NVIDIA and Corning also announced a long-term partnership.
Under that partnership, Corning plans to expand U.S.-based optical connectivity manufacturing capacity by 10 times and U.S. fiber production capacity by more than 50%.
Management said these partnerships support the company’s upgraded Springboard Plan.
Solar sales increased 90% year-over-year to $438 million.
The segment reported a net loss of $7 million.
Corning said it completed an extended maintenance shutdown and equipment upgrade at its solar wafer facility.
Management expects Solar profitability to improve in the third quarter.
The company said the Solar business is building toward a revenue stream of more than $3 billion with strong profit and cash flow.
Glass Innovations sales increased 1% to $1.46 billion.
Automotive sales increased 2% to $471 million.
Life Sciences and Emerging Growth Businesses sales declined 15% to $294 million.
Optical Communications was the strongest contributor, while Solar showed the fastest revenue growth but remained unprofitable.
For the third quarter, Corning expects core sales of $4.9 billion to $5.0 billion.
That would represent about 16% year-over-year growth.
Core EPS is expected to range from $0.85 to $0.89.
That would represent about 28% year-over-year growth.
Management said Corning is making progress on its upgraded Springboard Plan.
Corning’s internal Springboard Plan targets an annualized sales run rate of $20 billion by the end of 2026.
The plan also targets $30 billion by the end of 2028 and $40 billion by the end of 2030.
Management said Corning expects to deliver a 19% sales compound annual growth rate from Q4 2026 to Q4 2030.
The company also expects earnings to grow faster than sales, with higher returns on invested capital and more free cash flow.
Corning delivered a strong earnings result, even with a revenue miss on the dashboard.
Core EPS beat expectations, core sales grew 17%, margins expanded, adjusted free cash flow was strong, and Optical Communications benefited from AI infrastructure demand. Amazon and NVIDIA partnerships also gave investors a clearer signal that Corning is becoming more tied to data center buildouts.
The key question is whether AI optical demand and Solar growth can keep offsetting weaker areas while Corning scales toward its Springboard targets.
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