EarningsQ2 2026 Earnings Report
MX:GLW Q2 2026 EPS Results
Actual EPS$14.17
Consensus EPS$13.71
Beat/MissBeat by +$0.45
One Year Ago EPS$10.90
MX:GLW Q2 2026 Revenue Results
Actual Revenue$81.81B
Expected Revenue$84.09B
Beat/MissMissed by -$2.27B
YoY Revenue Growth+16.65%
Earnings Announcement Details
QuarterQ2 2026
Date07/28/2026
TimeBefore Open
Conference CallTuesday, July 28, 2026
MX:GLW Upcoming Earnings
Corning's next earnings date is estimated for October 27, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:GLW Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a strong operating quarter with multiple clear growth drivers—especially in Optical Communications and Enterprise (Gen AI)—meaningfully improved margins, record free cash flow, and ambitious multi-year targets backed by major customer agreements. Key near-term challenges include a modest solar loss and upgrade-related costs, memory-driven end-market pressure, and timing uncertainty around photonics and optical Scale-Up adoption. Management emphasized risk-adjusted planning and long-term customer-backed investments to mitigate these timing risks.Company Guidance
Strong Overall Revenue and EPS Growth
Consolidated sales grew 17% year-over-year to $4.74 billion in Q2 2026; core EPS increased 30% year-over-year to $0.78, both above guided ranges.
Margin and Profitability Expansion
Gross margin expanded 120 basis points to 39.6%; operating margin expanded 190 basis points to 20.9%; ROIC improved 180 basis points to 14.9% and management expects ROIC to continue improving into the high teens.
Optical Communications Outperformance
Optical Communications sales were $2.07 billion, up 32% year-over-year, with segment net income of $438 million (up 77% year-over-year) and reported NPAT as a percent of sales of 21%—record profitability for the segment.
Enterprise and Gen AI Momentum
Enterprise sales grew 65% year-over-year to $1.27 billion; Gen AI–related product sales nearly doubled in the quarter and orders are described as accelerating.
Solar Revenue Recovery Underway
Solar sales grew 90% year-over-year to $438 million as production resumed following maintenance and upgrades; company expects sales and profitability to improve beginning in Q3.
Stable Performance in Glass and Automotive
Glass Innovations sales were $1.46 billion (up $20 million or ~1% year-over-year) with net income up 9% to $354 million; Automotive sales were $471 million (up 2% year-over-year) with net income up 4% to $82 million—both demonstrating 'More Corning' content gains versus market.
Robust Free Cash Flow and Capital Plan
Free cash flow for Q2 was $1.42 billion; management plans approximately $2 billion of capital investment for the year to support optical communications growth while still forecasting significantly higher free cash flow year-over-year.
Clear, Ambitious Multi-year Growth Roadmap
Springboard internal plan: grow annualized sales run rate to $20B by end-2026, $30B by end-2028, $40B by end-2030 with an expected sales CAGR of 19% from Q4 2026 to Q4 2030; high-confidence (risk-adjusted) plan: $27B by 2028 and $35B by 2030. Photonics map targeted as a $10B opportunity by 2030.
Strengthening Long-term Customer Partnerships
Announced multiyear/large agreements with major customers (Apple, Meta up to $6B, NVIDIA, Amazon) that underpin capacity expansions and risk-sharing for growth initiatives.
Near-term Guidance
Q3 2026 guide expects roughly 16% year-over-year sales growth to $4.9–$5.0 billion and core EPS growth of ~28% to $0.85–$0.89, with continued margin targets at or above ~20%.
MX:GLW Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed