Corning (GLW) Q1 2026 Earnings Transcript

Motley Fool Transcribing, The Motley Fool

Tue, April 28, 2026 astatine 11:12 AM CDT 38 min read

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DATE

Tuesday, April 28, 2026 astatine 8:30 a.m. ET

CALL PARTICIPANTS

• Chairman and Chief Executive Officer — Wendell Weeks

• Executive Vice President and Chief Financial Officer — Edward Schlesinger

• [Unspecified Corporate Officer responding to Q&A]

Full Conference Call Transcript

Wendell Weeks: Thank you, Chris, and bully morning, everyone. Today, we announced fantabulous archetypal 4th 2026 results. Year-over-year income grew 18% to $4.35 billion. EPS grew 30% to $0.70. Operating borderline expanded 220 ground points to 20.2%. Gross borderline expanded 120 ground points to 39.1%, and ROIC expanded 190 ground points to 13.5%. These fantabulous results were led by Optical Communications and Solar. Our show this 4th serves arsenic yet different impervious constituent of Springboard's almighty trajectory. Versus our 4th 4 2023 springboard starting point, we grew income 33% and EPS 79%, and we expanded operating borderline and ROIC by 390 ground points and 470 ground points, respectively.

As you remember, connected our past net telephone successful January, we upgraded our interior Springboard program to adhd $11 cardinal successful incremental annualized income by the extremity of 2028 from our 4th 4 2023 starting point. Now based connected expanding request for our innovations, we really program to upgrade again and widen our program done 2030 astatine our capitalist lawsuit successful New York City connected May 6. We volition stock our improved Springboard program and the cardinal drivers arsenic good arsenic a peculiar absorption connected the latest developments successful our Gen AI portfolio. So today, I privation to get into much item astir our archetypal 4th results and item immoderate of the topics that we'll screen adjacent week.

I'll statesman with Solar. In 4th 1, we grew star income 80% year-over-year. So let's speech astir what's going connected successful this caller marketplace entree platform. We person antecedently shared our extremity to physique a $2.5 cardinal gross watercourse with profitability supra the firm mean by 2028. We're making cardinal strategical advancement connected the commercialized and argumentation fronts. We present enactment successful the star manufacture done 3 large manufacturing operations. First is star polysilicon. We did a concern wherever we had a number ownership and we were receiving astir $50 cardinal a twelvemonth successful currency travel successful the signifier of dividends.

And we've turned it into astir a $1 cardinal gross business, and we've been capable to bash each of this with lawsuit backing and authorities support, each portion generating affirmative currency travel each year. We activated idle assets to service the request for home star polysilicon. Now that, that capableness is online, you tin spot the incremental income successful our results. The concern performed supra our firm operating borderline people of 20% successful the archetypal quarter. Now the absorption is connected improving the productivity of our operations to further amended our throughput and profitability going forward. Moving down the worth chain.