10-KPeriod: FY2025

CORNING INC /NY Annual Report, Year Ended Dec 31, 2025

Filed February 12, 2026For Securities:GLW

Summary

Corning Incorporated (GLW) has reported strong financial performance for the fiscal year ended December 31, 2025, with a notable 19% increase in net sales to $15.6 billion, driven significantly by its Optical Communications segment. This growth was fueled by robust demand in enterprise networks, particularly for Generative AI products, and continued strength in data center interconnects and fiber-to-the-home solutions. The company successfully achieved its "Springboard plan" targets for sales growth and core operating margin a full year ahead of schedule, indicating effective strategic execution and operational improvements. Despite some segment-specific headwinds, such as a slight decrease in the Display segment due to currency impacts and a dip in Automotive due to market softness, Corning's overall performance highlights its resilience and ability to capitalize on key technological trends like AI and advanced communications infrastructure. The company maintains a strong liquidity position and is well-positioned for future growth.

Financial Highlights

53 data points
Beta

Revenue

$15.63B

36.0% Gross Margin

Net Income

$1.60B

10.2% Net Margin

EPS (Diluted)

$1.83

Total Assets

$30.98B

Cash & Equivalents

$1.53B

Free Cash Flow

$2.69B

Financial Statements
Beta
Revenue$15.63B
Cost of Revenue$10.01B
Gross Profit$5.62B
R&D Expenses$800.00M
SG&A Expenses$2.12B
Operating Income$2.28B
Net Income$1.60B
EPS (Basic)$1.87
EPS (Diluted)$1.83
Shares Outstanding (Basic)855.00M
Shares Outstanding (Diluted)871.00M

Key Highlights

  • 1Net sales increased by 19% to $15.6 billion in 2025, primarily driven by a $1.6 billion increase in the Optical Communications segment.
  • 2Corning achieved its "Springboard plan" targets for sales growth and core operating margin a full year ahead of schedule by the end of Q4 2025.
  • 3The Optical Communications segment saw significant growth (35% in sales) due to strong demand for Generative AI products in enterprise networks and data center interconnects.
  • 4Specialty Materials segment sales grew by 10%, supported by strong demand for premium glass for mobile devices and Gorilla Glass solutions.
  • 5Core net income increased by 29% to $2.2 billion, with core earnings per share rising to $2.52.
  • 6The company ended 2025 with $1.5 billion in cash and cash equivalents and maintains a strong liquidity position with $1.5 billion available on its revolving credit facility.
  • 7Significant capital expenditures are planned for 2026, estimated at $1.7 billion, indicating continued investment in growth and capacity.

Frequently Asked Questions

The primary driver was a significant $1.6 billion increase in sales from the Optical Communications segment, bolstered by strong demand for Generative AI products in enterprise networks and continued growth in data center interconnect and fiber-to-the-home solutions. Sales in Specialty Materials also contributed positively with a 10% increase due to high demand for mobile device glass and Gorilla Glass.

Corning's "Springboard plan," aimed at growing sales and enhancing profitability, has been highly successful. The company achieved both its growth and profitability targets a full year ahead of schedule by the end of 2025, significantly transforming its financial profile.

Yes, the Display segment saw a 5% decrease in net sales, primarily attributed to currency exchange rate impacts (resetting the core rate from 107 to 120 Japanese Yen to USD) despite pricing actions. The Automotive segment also experienced a 3% decrease due to softness in the heavy-duty diesel market and unfavorable foreign exchange movements.

Corning maintains a strong financial position. As of December 31, 2025, the company had $1.5 billion in cash and cash equivalents and $1.5 billion in available credit capacity under its revolving credit facility. Operating cash flow increased significantly in 2025, indicating robust operational funding.