Earnings To Watch: Corning (GLW) Will Announce Q4 Results Tomorrow

Corning Set to Release Earnings: What Investors Should Know

This Wednesday morning, Corning (NYSE:GLW), a leading producer of glass and electronic components, is scheduled to report its latest earnings. Here’s a breakdown of what to watch for in the upcoming announcement.

In the previous quarter, Corning matched Wall Street’s revenue projections, posting $4.27 billion in sales—a 14.4% increase compared to the same period last year. The results were mixed: while the company’s earnings per share outlook for the next quarter surpassed analyst forecasts, its adjusted operating income fell short of expectations.

Analyst Expectations for This Quarter

For the current quarter, analysts anticipate Corning’s revenue will reach $4.37 billion, representing a 12.8% year-over-year increase. This growth rate is slower than the 18.4% surge seen in the same quarter last year. Adjusted earnings per share are projected to be $0.71.

Corning Total Revenue

Over the past month, analysts have largely maintained their forecasts, indicating confidence in Corning’s performance as it approaches its earnings report. Notably, Corning has consistently outperformed revenue expectations for the last two years, exceeding estimates by an average of 1.8% each quarter.

Industry Peers and Market Trends

Several companies in the electrical equipment sector have already shared their fourth-quarter results, offering some insight into industry trends. LSI reported flat revenue compared to last year but surpassed analyst expectations by 4.9%. Sanmina, on the other hand, saw a 59% jump in revenue, beating forecasts by 3.3%. Following its results, LSI’s stock rose by 8.6%.

Investor Sentiment and Price Targets

The electrical equipment sector has seen positive momentum recently, with average share prices climbing 8.7% over the past month. Corning’s stock has gained 7% in the same period. Heading into earnings, analysts have set an average price target of $95.92 for Corning, compared to its current price of $95.18.

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