Financial Data and Key Metrics Changes - Company reported a 13% year-over-year sales growth to $3.7 billion in Q1 2025, with EPS growing more than three times the rate of sales to $0.54 [5][32] - Operating margin expanded by 250 basis points year-over-year to 18% [5][32] - For Q2 2025, the company expects sales to be approximately $3.85 billion and EPS guidance of $0.55 to $0.59, indicating a year-over-year EPS growth of about 21% [6][32] Business Line Data and Key Metrics Changes - Optical communications sales were $1.4 billion, up 46% year-over-year, with net income increasing by 101% [35] - Enterprise sales reached $705 million, up 106% year-over-year, driven by demand for new Gen AI products [35] - Display sales were $905 million, up 4% year-over-year, with a net income margin of 26.9% [37] - Specialty materials sales increased by 10% year-over-year to $501 million, with net income growing 68% [39] - Automotive sales were $440 million, down 10% year-over-year, primarily due to softness in European markets [42] Market Data and Key Metrics Changes - The company noted strong demand for US-made innovations, particularly in optical communications and solar sectors [14][26] - In the solar market, the company expects to grow from a $1 billion business in 2024 to a $2.5 billion business by 2028, driven by increased energy demand and favorable government policies [26][28] Company Strategy and Development Direction - The company is focused on its SpringBoard plan, aiming to add more than $4 billion in annualized sales and achieve a 20% operating margin by the end of 2026 [9][51] - The strategy includes leveraging US manufacturing capabilities to mitigate tariff impacts and capitalize on domestic demand [8][14] - The company is also emphasizing innovation in Gen AI and solar technologies as key growth drivers [22][51] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in delivering the SpringBoard plan even in a potential macroeconomic downturn, citing a risk-adjusted approach to planning [9][21] - The company is seeing early signs of stronger demand for US-made products, which is expected to positively impact financial performance [14][26] - Management reiterated that the direct impact of current tariffs is minimal, with a projected impact of $10 million to $15 million for Q2 2025 [13][34] Other Important Information - The company plans to invest approximately $1.3 billion in capital expenditures and expects to generate significant free cash flow in 2025 [45][46] - The company has a strong balance sheet with a long average debt maturity of about 23 years [47] Q&A Session Summary Question: Pricing power in uncertain markets - Management highlighted their ability to pass on increased costs to customers, particularly in solar and optical segments, due to strong demand and unique product offerings [54][56] Question: Temporary capacity ramp costs - Management clarified that the costs associated with ramping up production are primarily operational expenses, not capital expenditures, and are expected to normalize as production scales [59][60] Question: Visibility in Gen AI orders - Management confirmed strong demand from major hyperscale customers, reinforcing growth expectations despite potential market fluctuations [64] Question: Supply constraints in optical segment - Management acknowledged supply constraints and indicated that pricing power could strengthen further with the introduction of next-generation products [69][71] Question: Customer conversations regarding tariffs and recession - Management noted increasing demand for US-based manufacturing and emphasized the importance of long-term commitments from customers amid tariff uncertainties [78][79] Question: End market demand in display segment - Management expects flat unit demand for displays but anticipates growth in the glass market driven by increasing screen sizes [87][88]

First-Quarter 2025 Investor Call Corning Reports First-Quarter 2025 Financial Results April 29, 2025 1 Forward-Looking and Cautionary Statements The statements contained in this presentation and related comments by management that are not historical facts or information and contain words such as "will," "believe," "anticipate," "expect," "intend," "plan," "seek," "see," "would," "target," "estimate," "forecast" or similar expressions are forward-looking statements. These forward-looking statements are made ...

Core Insights - Corning Incorporated (GLW) reported strong first-quarter 2025 results, with adjusted earnings and revenues exceeding Zacks Consensus Estimates, driven by robust sales across various end markets and increased adoption of advanced products for Gen-AI applications [1][3] Financial Performance - The company reported a GAAP net income of $157 million or 18 cents per share, down from $209 million or 24 cents per share in the same quarter last year, impacted by higher operating expenses despite revenue growth [2] - Core earnings for the quarter were $467 million or 54 cents per share, an increase from $330 million or 38 cents per share year-over-year, beating the Zacks Consensus Estimate by 4 cents [3] - Net sales on a GAAP basis reached $3.45 billion, up from $2.97 billion in the prior year, with core sales increasing by 13% to $3.67 billion, surpassing the consensus estimate of $3.54 billion [3] Segment Performance - Optical Communications segment generated $1.35 billion in revenues, a 46% increase year-over-year, driven by demand for Gen-AI solutions, with net income improving to $201 million from $100 million [4] - Display Technologies reported revenues of $905 million, up 4% year-over-year, although it missed the revenue estimate of $942.2 million, with net income rising to $243 million from $201 million [5] - Specialty Materials segment achieved $501 million in net sales, a 10% increase year-over-year, exceeding the estimate of $492.2 million, with net income rising to $74 million from $44 million [6] - Automotive business saw a decline in net sales to $440 million from $491 million year-over-year, primarily due to weakness in light and heavy-duty markets, with net income down 13% to $68 million [7] - Life Sciences segment revenues were $234 million, slightly down from $236 million year-over-year, with net income matching the prior year's figure at $13 million [8] - Hemlock and Emerging Growth Businesses reported an 11% decline in net sales to $244 million, resulting in a net loss of $16 million compared to a net income of $17 million in the previous year [8] Profitability and Cash Flow - Quarterly gross profit increased to $1.2 billion from $993 million, with gross margins improving to 35.2% from 33.4%, and operating income rose to $445 million from $254 million year-over-year [9] - Core gross margin improved to 37.9% from 36.8% due to productivity and pricing improvements across operations [9] - Corning generated $151 million of net cash from operations during the quarter, compared to $96 million in the same quarter last year, with $1.35 billion in cash and cash equivalents as of March 31, 2025, against $6.95 billion in long-term debt [10] Outlook - For the second quarter of 2025, core sales are projected to be $3.85 billion, with core EPS expected in the range of 55-59 cents [11]

Core Insights - Corning reported revenue of $3.68 billion for the quarter ended March 2025, reflecting a year-over-year increase of 12.9% and surpassing the Zacks Consensus Estimate by 3.87% [1] - The company's EPS for the quarter was $0.54, an increase from $0.38 in the same quarter last year, exceeding the consensus estimate of $0.50 by 8.00% [1] Financial Performance - Net Sales in Display Technologies reached $905 million, slightly below the average estimate of $912.96 million, with a year-over-year change of +3.8% [4] - Net Sales in Optical Communications were $1.36 billion, exceeding the estimated $1.27 billion, marking a significant year-over-year increase of +45.7% [4] - Net Sales in Hemlock and Emerging Growth Businesses totaled $244 million, falling short of the average estimate of $321.84 million, representing a year-over-year decline of -21.5% [4] - Net Sales in Life Sciences were $234 million, below the average estimate of $249.16 million, with a slight year-over-year decrease of -0.9% [4] - Net Sales in Specialty Materials reached $501 million, surpassing the average estimate of $468.60 million, reflecting a year-over-year increase of +10.4% [4] Segment Performance - Segment Net Income for Optical Communications was $201 million, exceeding the average estimate of $169.93 million [4] - Segment Net Income for Display Technologies was $243 million, above the average estimate of $221.66 million [4] - Segment Net Income for Life Sciences was $13 million, below the average estimate of $19.50 million [4] - Segment Net Income for Specialty Materials was $74 million, slightly above the average estimate of $72.16 million [4] - Segment Net Income for Hemlock and Emerging Growth Businesses reported a loss of -$16 million, worse than the average estimate of -$7.78 million [4] Stock Performance - Corning's shares have returned -3.7% over the past month, compared to a -0.8% change in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]

Group 1: Earnings Performance - Corning reported quarterly earnings of $0.54 per share, exceeding the Zacks Consensus Estimate of $0.50 per share, and up from $0.38 per share a year ago, representing an earnings surprise of 8% [1] - The company posted revenues of $3.68 billion for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 3.87%, compared to revenues of $3.26 billion a year ago [2] - Over the last four quarters, Corning has consistently surpassed consensus EPS and revenue estimates [2] Group 2: Stock Performance and Outlook - Corning shares have declined approximately 7.2% since the beginning of the year, while the S&P 500 has decreased by 6% [3] - The future performance of Corning's stock will largely depend on management's commentary during the earnings call and the company's earnings outlook [4][6] - The current consensus EPS estimate for the upcoming quarter is $0.57 on revenues of $3.76 billion, and for the current fiscal year, it is $2.33 on revenues of $15.45 billion [7] Group 3: Industry Context - The Communication - Components industry, to which Corning belongs, is currently ranked in the bottom 26% of over 250 Zacks industries, indicating potential challenges ahead [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact Corning's stock performance [5]

Exhibit 99.1 FOR RELEASE – April 29, 2025 (1) First-quarter GAAP results: Sales were $3.45 billion, EPS was $0.18, and operating margin was 12.9%. First-quarter core results: Sales were $3.7 billion, EPS was $0.54, and operating margin was 18%. CORNING, N.Y. — Corning Incorporated (NYSE: GLW) today announced its first-quarter 2025 results and provided its outlook for second-quarter 2025. Wendell P. Weeks, chairman and chief executive officer, said, "Today, we announced strong first-quarter results that exce ...

It is projected by analysts that the 'Net Sales- Display Technologies' will reach $912.96 million. The estimate indicates a year-over-year change of +4.7%. In its upcoming report, Corning (GLW) is predicted by Wall Street analysts to post quarterly earnings of $0.50 per share, reflecting an increase of 31.6% compared to the same period last year. Revenues are forecasted to be $3.43 billion, representing a year-over-year increase of 5.2%. The current level reflects no revision in the consensus EPS estimate f ...

Group 1 - Corning Incorporated (GLW) is positioned to benefit from the growth of AI infrastructure, driven by the increase in generative AI and hyperscale data centers [1] - The demand for AI infrastructure is a significant factor contributing to Corning's market opportunities [1] Group 2 - The investment approach at Henriot Capital emphasizes a quant-driven model that minimizes human bias in stock selection [1] - The strategy involves buying based on model recommendations and conducting further research afterward [1]

Core Viewpoint - Corning Incorporated is expected to report first-quarter 2025 results on April 29, with anticipated revenue growth driven by strong demand and product innovation [1] Group 1: Product Innovations and Collaborations - Samsung Electronics has chosen Corning's Gorilla Armor 2 for its Galaxy S25 Ultra devices, highlighting the ongoing collaboration and commitment to innovation between the two companies [2] - Corning launched GlassWorks AI solutions to support fiber densification in AI-native data centers, allowing for increased data center capacity without significant infrastructure changes [3] - The introduction of Corning Gorilla Glass Ceramic enhances mobile device safety, showing improved drop performance compared to competitors, which is expected to generate additional revenue [4] Group 2: Revenue Estimates and Growth Drivers - The Optical Communication segment's revenue estimate is $1.21 billion, up from $930 million year-over-year, driven by the adoption of innovative optical connectivity products for generative AI applications [5] - The Display Technologies segment is estimated to generate $942.2 million, reflecting an 8.1% year-over-year growth, while the Specialty Materials segment is projected at $492.2 million, up 8.4% year-over-year [6] - Overall, the total revenue estimate for the March quarter is $3.45 billion, an increase from $3.26 billion in the prior-year quarter, with adjusted earnings per share expected to rise to 50 cents from 38 cents [6]

Group 1 - Corning (NYSE: GLW) is involved in various sectors including optical fiber for data centers, protective coatings for smartphones, and materials for microscopes and catalytic filters in cars [1] - The company has a diverse product portfolio that supports critical infrastructure and technology applications [1] Group 2 - The article emphasizes the importance of well-researched commentary and insights into high-growth technology equities, undervalued blue-chip stocks, and niche market opportunities [1] - The goal is to assist readers in navigating complex global markets with a focus on a risk-aware and fundamentally driven investment approach [1]