8-KCurrent report
Results of operations
✓ VerifiedCorning reported Q2 2026 core sales of $4.74 billion, up 17% year over year, and core EPS of $0.78, up 30%, with Optical Communications sales up 32% to $2.07 billion.
Filed Jul 28, 2026 · 07:03 ET
Summary
- Q2 2026 core sales grew 17% year over year to $4.74 billion and core EPS grew 30% to $0.78, while GAAP sales were $4.51 billion and GAAP EPS was $0.64.
- Optical Communications sales grew 32% to $2.07 billion, including a 65% increase in Enterprise Networks, and Solar grew sales 90% to $438 million while posting a net loss of $7 million.
- Core gross margin expanded 120 basis points to 39.6% and core operating margin expanded 190 basis points to 20.9%, with core ROIC up 180 basis points to 14.9%.
- For Q3 2026, management expects core sales to grow approximately 16% year over year to a range of $4.9 billion to $5 billion and core EPS to grow approximately 28% to a range of $0.85 to $0.89.
- Corning cited a multiyear, multibillion-dollar agreement with Amazon and a long-term partnership with NVIDIA under which it will expand U.S. optical connectivity manufacturing capacity by 10x and U.S. fiber production capacity by more than 50%.
- The upgraded Springboard Plan targets an annualized sales run rate of $20 billion by end of 2026, $30 billion by end of 2028, and $40 billion by end of 2030, with a 19% sales CAGR from Q4 2026 to Q4 2030.
Key facts
- Q2 core sales
- $4.74 billion, up 17%
From the filing for Q2 core sales
“Year over year, Q2 core sales grew 17% to $4.74 billion. Core EPS grew 30% to $0.78 .”
- Q2 core EPS
- $0.78
From the filing for Q2 core EPS
“Core EPS grew 30% to $0.78 .”
- Q2 GAAP EPS
- $0.64
From the filing for Q2 GAAP EPS
“GAAP EPS was $0.64, up 19% year over year.”
- Optical Communications sales
- $2.07 billion, up 32%
From the filing for Optical Communications sales
“Optical Communications grew sales 32% to $2.07 billion, including a 65% increase in Enterprise Networks, with Gen AI product sales growing significantly faster.”
- Solar sales
- grew 90%
From the filing for Solar sales
“Solar grew sales 90% and completed an extended maintenance shutdown and equipment upgrade at Corning's solar wafer facility.”
- Q3 2026 core sales outlook
- $4.9 billion to $5 billion
From the filing for Q3 2026 core sales outlook
“management expects core sales to grow approximately 16% year over year to a range of $4.9 billion to $5 billion and core EPS to grow approximately 28% year over year to a range of $0.85 to $0.89”
- Adjusted free cash flow
- $1.42 billion
From the filing for Adjusted free cash flow
“delivered strong adjusted free cash flow of $1.42 billion”
- NVIDIA partnership
- expand U.S. optical connectivity capacity by 10x
From the filing for NVIDIA partnership
“Corning will expand its U.S.-based optical connectivity manufacturing capacity by 10x and expand its U.S. fiber production capacity by more than 50%”
Why it mattersThe results detail accelerating demand from AI data center buildouts, including named supply agreements with Amazon and NVIDIA that expand Corning's U.S. optical fiber and connectivity capacity. The upgraded Springboard Plan sets sales run-rate targets of $20 billion, $30 billion, and $40 billion.
- Filed
- Jul 28, 2026
- Accepted
- 2026-07-28 11:03Z
- Period
- Jul 28, 2026
- Accession no.
- 0000024741-26-000253
- Size
- 890 KB
- Index
- Filing index