Corning Provides Update On Key Milestones In 'Springboard' Plan To Add More Than $3B In Annualized Sales, And Shares Operating-Margin Target Of 20% By End Of 2026; Sees Q3 Expected Sales Of $3.7B (Est. $3.71B); And EPS Of $0.50-$0.54 (Est. $0.53)
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Corning Incorporated (NYSE:GLW) updates its 'Springboard' plan, aiming to add over $3 billion in annualized sales by 2026 with a 20% operating margin target. Q3 sales are expected at $3.7B and EPS between $0.50-$0.54. The company is implementing price increases in Display Technologies and anticipates significant growth in Optical Communications.
September 19, 2024 | 12:48 pm
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Corning's 'Springboard' plan aims for $3B+ in sales by 2026 with a 20% operating margin. Q3 sales expected at $3.7B, EPS $0.50-$0.54. Growth in Optical Communications and Display Technologies is anticipated.
Corning's strategic plan to significantly increase sales and improve margins is a positive indicator for future growth. The expected Q3 sales and EPS align closely with estimates, suggesting stability. The focus on Optical Communications and Display Technologies, with price increases and strong adoption of AI products, supports a positive outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100