Corning Incorporated releases Q3 earnings

CORNING, N.Y. (18 NEWS) - Corning Incorporated is touting its third quarter earnings results.

Progress continues on the Strategy and Capital Allocation Framework. 

Year-over-year GAAP and core sales are up four and six percent to $2.6 billion and $2.7 billion respectively. 

The company has returned $8.5 billion to shareholders since 2015 which is on track of its three-year commitment promise to deliver over $12.5 billion.  

It also reached a milestone selling one billion fiber kilometers. 

The Specialty Materials segment saw year-over-year sales increases of 26 percent. 

"We're particularly excited about the results that we had in our Specialty Materials business with the strong response to Gorilla Glass 5 in the marketplace and also our Optical Communications business which is seeing tremendous growth driven primarily by carriers and networks who are building out their systems to be able to support G5 applications in the future," Dan Collins, Corning's vice president of corporate communications, said. 

One new major product to look out for is the pharmaceutical glass which it showcased at the White House over the summer. 

The company partnered with Merck and Pfizer to introduce Valor which is pharmaceutical glass packaging. 

Expectations were exceeded for the first three quarters of the year and the company believes it sets them up for a strong fourth quarter too.

For a full report, click here


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