The company reported GAAP net sales of $3,251 million, GAAP EPS of $0.12, core sales of $3,604 million and core EPS of $0.47 for Q2 2024. Core sales for Q2 2023 were $3,482 million and core EPS was $0.45.

1. 01

   The company reported GAAP net sales of $3,251 million, GAAP EPS of $0.12, core sales of $3,604 million and core EPS of $0.47 for Q2 2024. Core sales for Q2 2023 were $3,482 million and core EPS was $0.45.

2. 02

   Corning said the gap between GAAP EPS of $0.12 and core EPS of $0.47 mainly reflected constant currency adjustments, translated earnings contract gains, translation gains on Japanese-yen-denominated debt, and restructuring and non-cash asset write-off charges. GAAP gross margin was 29.2%, and core gross margin was 37.9%.

3. 03

   Corning said Optical Communications sales for Q2 were $1,113 million and net income was $143 million, and that sales in the Enterprise segment rose 42% from a year earlier. It also said it agreed with Lumen Technologies to reserve 10% of Corning's global fiber capacity for each of the next 2 years.

4. 04

   Corning said GAAP operating cash flow for Q2 was $521 million and adjusted free cash flow was $353 million. It also said it expects core sales of about $3.7 billion for Q3, with core EPS in the range of $0.50 to $0.54.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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