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Corning (GLW) Reports Q3 Earnings: What Key Metrics Have to Say
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Corning (GLW - Free Report) reported $3.73 billion in revenue for the quarter ended September 2024, representing a year-over-year increase of 7.9%. EPS of $0.54 for the same period compares to $0.45 a year ago.
The reported revenue represents a surprise of +0.82% over the Zacks Consensus Estimate of $3.7 billion. With the consensus EPS estimate being $0.52, the EPS surprise was +3.85%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Corning performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net Sales- Display Technologies: $1.02 billion versus $1.01 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +4.4% change.
Net Sales- Optical Communications: $1.25 billion compared to the $1.15 billion average estimate based on five analysts. The reported number represents a change of +35.7% year over year.
Net Sales- Hemlock and Emerging Growth Businesses: $298 million compared to the $339.78 million average estimate based on five analysts. The reported number represents a change of -8.9% year over year.
Net Sales- Specialty Materials: $548 million versus $539.17 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -2.7% change.
Net Sales- Life Sciences: $244 million compared to the $243.76 million average estimate based on five analysts. The reported number represents a change of +6.1% year over year.
Net Sales- Environmental Technologies: $382 million versus the five-analyst average estimate of $422.02 million. The reported number represents a year-over-year change of -14.9%.
Segment Net Income- Hemlock and Emerging Growth Businesses: -$12 million versus the three-analyst average estimate of -$12.64 million.
Segment Net Income- Display Technologies: $285 million compared to the $241.80 million average estimate based on three analysts.
Segment Net Income- Life Sciences: $15 million compared to the $15.75 million average estimate based on three analysts.
Segment Net Income- Environmental Technologies: $75 million compared to the $95.45 million average estimate based on three analysts.
Segment Net Income- Specialty Materials: $72 million versus the three-analyst average estimate of $78.22 million.
Segment Net Income- Optical Communications: $175 million versus the three-analyst average estimate of $140.13 million.
Shares of Corning have returned +3.7% over the past month versus the Zacks S&P 500 composite's +1.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Corning (GLW) Reports Q3 Earnings: What Key Metrics Have to Say
Corning (GLW - Free Report) reported $3.73 billion in revenue for the quarter ended September 2024, representing a year-over-year increase of 7.9%. EPS of $0.54 for the same period compares to $0.45 a year ago.
The reported revenue represents a surprise of +0.82% over the Zacks Consensus Estimate of $3.7 billion. With the consensus EPS estimate being $0.52, the EPS surprise was +3.85%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Corning performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net Sales- Display Technologies: $1.02 billion versus $1.01 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +4.4% change.
- Net Sales- Optical Communications: $1.25 billion compared to the $1.15 billion average estimate based on five analysts. The reported number represents a change of +35.7% year over year.
- Net Sales- Hemlock and Emerging Growth Businesses: $298 million compared to the $339.78 million average estimate based on five analysts. The reported number represents a change of -8.9% year over year.
- Net Sales- Specialty Materials: $548 million versus $539.17 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -2.7% change.
- Net Sales- Life Sciences: $244 million compared to the $243.76 million average estimate based on five analysts. The reported number represents a change of +6.1% year over year.
- Net Sales- Environmental Technologies: $382 million versus the five-analyst average estimate of $422.02 million. The reported number represents a year-over-year change of -14.9%.
- Segment Net Income- Hemlock and Emerging Growth Businesses: -$12 million versus the three-analyst average estimate of -$12.64 million.
- Segment Net Income- Display Technologies: $285 million compared to the $241.80 million average estimate based on three analysts.
- Segment Net Income- Life Sciences: $15 million compared to the $15.75 million average estimate based on three analysts.
- Segment Net Income- Environmental Technologies: $75 million compared to the $95.45 million average estimate based on three analysts.
- Segment Net Income- Specialty Materials: $72 million versus the three-analyst average estimate of $78.22 million.
- Segment Net Income- Optical Communications: $175 million versus the three-analyst average estimate of $140.13 million.
View all Key Company Metrics for Corning here>>>Shares of Corning have returned +3.7% over the past month versus the Zacks S&P 500 composite's +1.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.