What To Expect From Corning’s Q4
Corning Inc. (NYSE: GLW) is set to announce its fourth quarter results on Tuesday, January 30. We expect Corning to report another quarter of revenue growth driven by strong performances in the Optical Communications and Specialty Materials segments. We have created an interactive dashboard that illustrates our expectations for the company’s fourth quarter. You can modify the revenue and operating margin expectations to see how its EPS would be affected in Q4.
Optical Communication, Speciality Materials Likely To Underpin Overall Performance
We expect Corning to report a solid performance in Q4, driven by continued momentum in the Optical Communications and Specialty Materials segments.
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Corning’s Optical Communications segment grew by 15% y-o-y driven by strong demand for both enterprise and carrier products. We expect this trend to continue into Q4, driven by strong demand for optical fiber products and Corning’s acquisition of 3M’s communication markets business, which is likely to expand both its global reach and portfolio. For Q4, Corning expects its sales growth to be in the high single digit percentage range on a year-on-year basis.
The Speciality Materials segment continues to see strong growth, driven by stronger Gorilla Glass shipments. We expect this trend to continue into Q4 primarily driven by increased demand for Gorilla Glass, and Corning’s expansion into the automotive market. For Q4, Corning expects sales growth to be in the teens.
LCD Pricing Declines To Impact Display Technology Segment
Corning expects competitive pressure to pull down LCD pricing moderately but remains positive about growth in the LCD glass market and volumes shipped.