10-QPeriod: Q2 FY2026

CORNING INC /NY Quarterly Report for Q2 Ended Jun 30, 2026

Filed July 29, 2026For Securities:GLW

Summary

Corning Inc. reported strong financial performance for the second quarter and first half of 2026, with net sales increasing significantly year-over-year, driven by robust growth in its Optical Communications and Solar segments. Net income also saw substantial improvements, reflecting improved operational efficiency and strategic segment realignments. The company's balance sheet remains strong, with increased cash and cash equivalents and a healthy working capital position. Corning continues to invest in capital expenditures, particularly in its Solar business, to support growth. The company reaffirms its positive outlook, driven by sustained demand for its innovative products and its strategic "Springboard" plan, which aims to enhance profitability and drive profitable growth.

Key Highlights

  • 1Net sales surged by 17% to $4.505 billion for the three months ended June 30, 2026, and by 18% to $8.649 billion for the six months ended June 30, 2026, compared to the prior year periods.
  • 2Net income attributable to Corning Incorporated rose to $559 million for the quarter and $930 million for the six months, representing significant year-over-year increases.
  • 3The Optical Communications segment was a key driver of growth, with net sales increasing by 32% for the quarter and 34% for the six months.
  • 4The Solar segment experienced substantial growth, with net sales up 90% for the quarter and 85% for the six months, driven by polysilicon, solar wafers, and module sales.
  • 5Cash and cash equivalents increased to $2.504 billion as of June 30, 2026, and the company has $1.5 billion in available credit capacity.
  • 6Corning declared a quarterly dividend of $0.28 per share, payable in September 2026, demonstrating continued commitment to shareholder returns.
  • 7The company revised its segment structure in Q1 2026, now reporting four segments: Optical Communications, Glass Innovations, Automotive, and Solar, which aligns with management's review and resource allocation.

Frequently Asked Questions

Revenue growth was primarily driven by strong performance in the Optical Communications segment, fueled by demand for Generative AI products, and significant expansion in the Solar segment, benefiting from increased polysilicon, solar wafer, and module sales.

Profitability has improved significantly. Net income attributable to Corning Incorporated increased substantially due to higher net sales, improved gross margins, and effective cost management, despite temporary higher costs associated with ramping up Solar capacity.

Corning maintains a strong liquidity position with $2.5 billion in cash and cash equivalents and $1.5 billion in available credit. The company continues to invest in capital expenditures, particularly in its Solar business, and has approximately $3.0 billion remaining under its share repurchase authorization, while also continuing its dividend payments.

Yes, effective in the first quarter of fiscal 2026, Corning revised its segment structure into four reportable segments: Optical Communications, Glass Innovations, Automotive, and Solar. There were no material changes in critical accounting estimates or assumptions since the prior annual report.