Corning (GLW) Tops Q1 EPS by 1c, Comments on Outlook

Corning (NYSE: GLW) reported Q1 EPS of $0.35, $0.01 better than the analyst estimate of $0.34. Revenue for the quarter came in at $2.43 billion versus the consensus estimate of $2.48 billion.

Looking Forward

“Our excellent first-quarter results have given us momentum for continued growth in the second quarter,” James B. Flaws, vice chairman and chief financial officer, said. “Strong demand for our optical communications products, the popularity of Gorilla Glass and strength of our heavy-duty diesel emissions materials will drive our second-quarter performance,” he said.

In the second quarter, Corning expects its LCD glass volume to increase by a low single-digit percentage sequentially. Glass prices in the quarter are expected to decline even less than the first quarter.

For earnings history and earnings-related data on Corning (GLW) click here.

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