14 analysts' median target is $178[FMP target], stock is $166, +7.1% upside potential. After Q2 +3.3% EPS beat[FMP earnings], the stock moved -1.6%.
C+ = MoonshotScore 53[multi-pillar formula] + Council 2/7[7-lens rule]. Form 4: 0 transactions[FMP Form 4].
Q1 consensus: revenue $5.0B[FMP est], EPS $0.88[FMP est]. 8 consecutive quarters of beat[FMP earnings].
Q2 EPS +3.3% beat[FMP] but the stock -1.6% D+1[FMP D+1]. Edward Schlesinger promised $422.0M CapEx + a sequential decline in Q1 during the Q2 earnings call[Edward Schlesinger capex transcript].
Watchlist
Optical Communications Genai Growth
optical_communications_genai_growth
The Optical Communications segment achieved 32% year-over-year sales growth and 77% net income growth, driven by strong demand for Gen AI products and accelerating orders.
"Our results were led by Optical Communications where we grew sales 32% year-over-year to over $2 billion, and net income grew 77% to $438 million. We continue to see strong demand for our Gen AI products and enterprise networks and our orders are accelerating."
- Wendell Weeks, Chairman, Chief Executive Officer and President - Q2 FY26 Earnings Call - July 28, 2026
Capex Investment Optical Comms
capex_investment_optical_comms
Corning expects to invest approximately $2 billion for the year 2026 to support its growth plans in Optical Communications, increasing its investment run rate into Q3 and Q4.
"For CapEx, we expect to increase our investment run rate into Q3 and Q4, and to invest approximately $2 billion for the year to support the compelling growth plan Wendell just described in optical communications."
- Edward Schlesinger, Executive Vice President and Chief Financial Officer - Q2 FY26 Earnings Call - July 28, 2026
Strategic Customer Partnerships
strategic_customer_partnerships
Corning is deepening long-term strategic agreements with industry leaders like Meta, NVIDIA, and Amazon, strengthening its position as a critical supplier for next-generation AI infrastructure.
"In quarter 1, Corning and Meta announced a multiyear up to $6 billion agreement to support Meta's apps, technologies and AI ambitions using our newest innovations in optical fiber, cable and connectivity solutions. Then in May, NVIDIA now is a multiyear commercial and technology partnership with Corning to dramatically expand US-based manufacturing of the advanced optical connectivity solutions needed to power next-generation AI infrastructure. In June, Amazon announced a multibillion dollar agreement with Corning under which will supply the optical fiber, cable and connectivity solutions that power Amazon's expanding data center infrastructure across the United States."
- Wendell Weeks, Chairman, Chief Executive Officer and President - Q2 FY26 Earnings Call - July 28, 2026
Solar Business Turnaround
solar_business_turnaround
Corning's solar business recorded 90% sales growth in Q2, with sales and profitability expected to improve from Q3 onwards after maintenance shutdown, targeting a $3 billion revenue stream long-term.
"In solar, Q2 sales were $438 million, up $207 million or 90% year-over-year. The segment reported a net loss of $7 million. In Q2, as expected, we experienced an additional $30 million of expense versus Q1 as our solar wafer factory underwent an extended maintenance shutdown transitioning to a permanent power system while repairing and upgrading production equipment. Customer demand is strong across the map and we expect sales and profit to improve beginning in the third quarter. Overall, in the business, we continue to secure long-term customer commitments for polysilicon, wafers and modules. The market preference for U.S.-made solar products continues to strengthen, supported by ongoing trade and tax policy developments and other government initiatives to advance domestic manufacturing. Corning remains well positioned in this area as we are the only U.S.-based polysilicon and wafer manufacturer. And we remain firmly on track to build our solar business into a $3 billion revenue stream with profitability above the corporate average."
- Edward Schlesinger, Executive Vice President and Chief Financial Officer - Q2 FY26 Earnings Call - July 28, 2026
Q2 Financial Performance
q2_financial_performance
The company delivered strong second-quarter results, with sales growing 17% year-over-year to $4.74 billion, EPS increasing 30% to $0.78, and operating margin expanding by 190 basis points.
"Year-over-year, in the quarter, sales grew 17% to $4.74 billion. EPS grew 30% to $0.78. Gross margin expanded 120 basis points to 39.6%. Operating margin expanded 190 basis points to 20.9%, ROIC expanded 180 basis points to 14.9%, and we grew free cash flow to $1.42 billion."
- Wendell Weeks, Chairman, Chief Executive Officer and President - Q2 FY26 Earnings Call - July 28, 2026
Springboard 2030 Sales Target
springboard_2030_sales_target
Corning aims to grow its annualized sales run rate to $40 billion by the end of 2030 with its upgraded Springboard plan, expecting earnings to grow faster than sales.
"Our plan is to now grow our annualized sales run rate to $20 billion by the end of 2026, $30 billion by the end of 2028, and $40 billion by the end of 2030."
- Wendell Weeks, Chairman, Chief Executive Officer and President - Q2 FY26 Earnings Call - July 28, 2026
Stock Expert AI - Methodology
multi-pillar methodology. Cash Runway and News Sentiment strong. Operating Leverage weak.
How is it calculated? ->7 investor frameworks. 2 bullish (Ray Dalio, Buffett), 1 bearish (Ken Griffin), 4 neutral (Jim Simons, Englander, Klarman, Munger).
How is it calculated? ->Quality business, trading at fair value.
How is it calculated? ->Past Performance
Q2 (July 28, 2026): EPS $0.78 vs $0.76 est[FMP], +3.3% beat. D+1 movement: -1.6%[FMP D+1]. Decline despite beat - market reacted to guidance, not numbers.
Q2: EPS $0.78 vs $0.76 beat[FMP], stock -1.6% D+1[FMP]. Edward Schlesinger Q2 transcript: "Our results were led by Optical Communications where we grew sales 32% year-over-year to over $2 billion, and net income grew 77% to $438 million."[Edward Schlesinger].
"Our results were led by Optical Communications where we grew sales 32% year-over-year to over $2 billion, and net income grew 77% to $438 million."
- Edward Schlesinger, CFO - Q2 FY26 Earnings Call - July 28, 2026
No RPO/backlog concentration disclosed in Q2 earnings call.
Q2 CapEx $422.0M[FMP cashflow]. Edward Schlesinger Q2 transcript: "For CapEx, we expect to increase our investment run rate into Q3 and Q4, and to invest approximately $2 billion for the year to support the compelling growth plan Wendell just described in optical communications."[Edward Schlesinger transcript]. Q2 op margin 15.5%[FMP op margin] - this level in Q1 is sensitive to CapEx revision risk.
"For CapEx, we expect to increase our investment run rate into Q3 and Q4, and to invest approximately $2 billion for the year to support the compelling growth plan Wendell just described in optical communications."
- Edward Schlesinger, CFO - Q2 FY26 Earnings Call - July 28, 2026
Not advice - a structural framework for earnings night. Decision discipline is yours.
Market Outlook
You read it in 5 minutes. When the numbers come out on Tuesday evening - you know what you're looking at.
Data arrives at night. The framework is ready now.
Data arrives on Tuesday evening. The framework is ready on this page: Q1 EPS threshold $0.88[FMP], CapEx threshold "below $422.0M"[Edward Schlesinger]. Two anchors, three scenarios.
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Calendar
DATA GAP: Events not in the FMP /stable/calendar feed - Investor day, analyst day, product launches, regulatory dates. These require company IR page scraping or manual calendar entry.
This Corning Incorporated (GLW) earnings preview covers the analyst consensus, key catalysts, and what to watch on the earnings call.
Consensus EPS, revenue guidance, segment growth rates, and the tone of management commentary — the full breakdown with sources is on this page.
Figures are sourced from Financial Modeling Prep (FMP) fundamentals and consensus data plus official earnings-call transcripts; derived metrics are labeled with their source next to each figure.
No. This page is educational research, not investment advice. It summarizes analyst consensus and company data; consult a licensed financial advisor before making any investment decision.