GLW - What to expect from Corning's Q2 earnings?

2023-07-24 11:10:04 ET

Corning ( NYSE: GLW ) is scheduled to announce Q2 earnings results on Tuesday, July 25th, before market opens.

The consensus EPS Estimate is $0.45 (-21.1% Y/Y) and the consensus Revenue Estimate is $3.48B (-7.4% Y/Y).

Last quarter, topline revenue dropped about 10% to $3.37B ; and management laid out Q2 guidance with core sales expected in the range of $3.4B to $3.6B and core EPS in the range of $0.42 to $0.49.

During May, the company a nnounced a 20% increase to its display glass substrate prices, that will impact all regions, compositions, and glass Gen sizes beginning in Q3.

Over the last 2 years, GLW has beaten EPS estimates 75% of the time and has beaten revenue estimates 75% of the time.

Over the last 3 months, EPS estimates have seen 2 upward revisions and 10 downward. Revenue estimates have seen 1 upward revision and 7 downward.

More on Corning:

• Corning Incorporated: Decent Entry Point For The Long-Term Oriented Investor

• Corning stock dips after UBS downgrades on seeing balanced risk/reward

• Corning stock rises after Morgan Stanley upgrades to Overweight

• Corning: Bullish Into Q2 Earnings With Catalysts, 30% Upside

• The stock gets a Wall Street rating of Buy with an average target price of 38.38.

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