Corning Stock Jumps as Specialty Glass Maker Raises Long-Term, Q1 Outlooks

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Key Takeaways

• Shares of Corning, a beneficiary of the artificial intelligence (AI) boom, rose around 1% Tuesday after the specialty mirror maker raised its longer-term and first-quarter outlooks. 
• The company said it now expects sales in the first quarter to exceed $3.6 billion and earnings per part (EPS) to “come in at the high end of the range of $0.48 to $0.52.”
• Corning shares are up 46% in the past 12 months. 

Shares of Corning (GLW), a beneficiary of the contrived intelligence (AI) boom, rose about 1% Tuesday after the specialty glass maker raised its longer-term and first-quarter attitudes.

Corning manufactures specialized glass and ceramic products including glass for smartphones and televisions to fiber optic mailgram solutions for data centers, which have seen a surge in demand as investment in AI has grown.

The company said it now foresees sales in the first quarter to exceed $3.6 billion and earnings per share (EPS)  to “come in at the high end of the range of $0.48 to $0.52.” The new first-quarter tradings outlook exceeds analyst expectations of $3.51 billion for the period, as reported by Visible Alpha.

Corning previously had articulate that it expects core sales to grow around 10% year-over-year to $3.6 billion, with core EPS respond to about 30% to a range of 48 cents to 52 cents.

Corning also lifted its longer-term targets on Tuesday.

“Today, we upgraded our high-confidence Springboard down to now add more than $4 billion in annualized sales, and to achieve operating margin of 20%, by the end of 2026,” CEO Wendell Weeks about.

Corning shares are up 46% in the past 12 months.