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Corning Incorporated (GLW) is a New York-based materials science and specialty glass manufacturer known for its cutting-edge innovations across various industries. The company boasts a market capitalization of $44.9 billion, reflecting its prominent position across multiple industries. Corning is all set to release its second-quarter earnings before the market opens on Tuesday, Jul. 29.
Ahead of the event, analysts expect Corning to report a non-GAAP profit of $0.57 per share, up 21.3% from $0.47 per share reported in the year-ago quarter. It boasts a strong track record of earnings performance, having exceeded analysts’ bottom-line expectations in each of the last four quarters.
Analysts expect Corning to deliver an adjusted EPS of $2.35 in the current year, up 19.9% from $1.96 in fiscal 2024. Looking ahead to FY2026, its adjusted EPS is projected to improve 15.3% annually to $2.71.
GLW stock has soared 22.5% over the past 52 weeks, outperforming the S&P 500 Index’s ($SPX) 11.7% surge and the Technology Services Select Sector SPDR ETF Fund’s (XLK) 9.3% rise during the same time frame.
On Apr. 29, Corning announced its first-quarter earnings, and its shares rose marginally. The company delivered adjusted earnings of $0.54 per share on revenue of $3.7 billion, both topping analyst expectations. Investor confidence was further lifted by Corning’s optimistic Q2 outlook, projecting core sales of approximately $3.85 billion and adjusted EPS in the range of $0.55 to $0.59, figures that outpaced Wall Street forecasts.
The consensus opinion on GLW stock is highly bullish, with an overall “Strong Buy” rating. Out of the 11 analysts covering the stock, eight recommend “Strong Buy,” and three advise a “Hold” rating. Its mean price target of $54.42 indicates a 3.2% upside potential from current price levels.
