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Corning sees Q4 core EPS 37c-42c, consensus 50c

sees Q4 sales $3.25B, consensus $3.56B. Ed Schlesinger, executive vice president and chief financial officer, said, “Sales in the third quarter were consistent sequentially, as expected. Our strong execution on our plan to improve profitability and cash flow is evident in our numbers. Specifically, we expanded core gross margin to 37%, primarily as a result of Display Technologies’ pricing actions. Additionally, we grew free cash flow to $466 million for the quarter, driven by strong operating cash flow – including inventory reductions – and lower capital expenditures.”

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