Corning Incorporated reports results for the quarter ended September 30 - Earnings Summary

• Corning Incorporated GLW.N reported quarterly adjusted earnings of 91 cents​​ per share for the quarter ended September 30, higher than the same quarter last year, when the company reported EPS of 67 cents. The mean expectation of fifteen analysts for the quarter was for earnings of 88 cents per share. Wall Street expected results to range from 81 cents to 90 cents per share.

• Revenue rose 18.9% to $5.08 billion from a year ago; analysts expected $5.02 billion.

• Corning Incorporated's reported EPS for the quarter was 78 cents​.

• The company reported quarterly net income of $680 million.

• Corning Incorporated shares had fallen by 16.9% this quarter and gained 45.9% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 2.4% in the last three months.​

• In the last 30 days, there have been no negative revisions of earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 14 "strong buy" or "buy," 5 "hold" and no "sell" or "strong sell." The average consensus recommendation for the electronic equipment & parts peer group is also "buy"

• Wall Street's median 12-month price target for Corning Incorporated is $181.00, about 29.4% above its last closing price of $127.74

This summary was machine generated from LSEG data October 27 at 01:31 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)