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Coming Soon: Corning Earnings

By Seth Jayson – Updated Apr 10, 2017 at 12:37PM

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Checking expectations

Corning (NYSE: GLW) is expected to report Q2 earnings on July 30. Here's what Wall Street wants to see:

The 10-second takeaway
Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict Corning's revenues will increase 3.5% and EPS will shrink 0.0%.

The average estimate for revenue is $1.98 billion. On the bottom line, the average EPS estimate is $0.31.

Revenue details
Last quarter, Corning booked revenue of $1.81 billion. GAAP reported sales were 5.5% lower than the prior-year quarter's $1.92 billion.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
Last quarter, non-GAAP EPS came in at $0.30. GAAP EPS of $0.33 for Q1 were 6.5% higher than the prior-year quarter's $0.31 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Recent performance
For the preceding quarter, gross margin was 42.4%, 50 basis points worse than the prior-year quarter. Operating margin was 18.0%, 90 basis points worse than the prior-year quarter. Net margin was 27.2%, 250 basis points better than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $8.06 billion. The average EPS estimate is $1.31.

Investor sentiment
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 5,277 members out of 5,404 rating the stock outperform, and 127 members rating it underperform. Among 981 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 958 give Corning a green thumbs-up, and 23 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Corning is outperform, with an average price target of $14.07.

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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool recommends Corning. The Motley Fool owns shares of Corning. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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