Corning(US:GLW)2024-07-30 14:21Second-Quarter 2024 Performance - Corning reported Q2 2024 core sales of $3.60 billion, a 4% increase year-over-year[6] - The company's Q2 2024 core EPS was $0.47, also a 4% increase year-over-year[6] - Q2 2024 gross margin was 38%, a 170 bps increase year-over-year[6] - Adjusted free cash flow for Q2 2024 was $353 million[6] Segment Performance - Optical Communications Q2 sales were $1.1 billion, up 4% year-over-year, with Enterprise Network sales up 42% driven by AI-related connectivity solutions[25] - Display Technologies Q2 sales were $1.0 billion, up 9% year-over-year, with net income up 24%[26] - Specialty Materials Q2 sales were $501 million, up 18% year-over-year, and net income up 91%[28] - Environmental Technologies Q2 sales were $431 million, down 6% year-over-year, and net income down 9%[29] - Life Sciences Q2 sales were $249 million, up 8% year-over-year, and net income up 55%[30] - Hemlock and Emerging Growth Businesses Q2 sales were $296 million, down 21% year-over-year, with a net loss of $23 million[31] Forward Outlook - Q3 2024 sales are expected to be approximately $3.7 billion[32] - Q3 2024 EPS is projected to be between $0.50 and $0.54[32] - The company anticipates $1.2 billion in capital expenditures for full-year 2024[33] Springboard Plan - The "Springboard" plan targets a $3 billion+ sales opportunity over the next 3 years[10, 15] - The Enterprise business is expected to grow at a 25% CAGR from 2023 to 2027[23]