Market Overview

Corning Q3 Earnings Preview

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Corning (NYSE: GLW) will be releasing its next round of earnings this Tuesday. For all of the relevant information, here is your guide for the Q3 earnings announcement.

Earnings and Revenue

Corning EPS is expected to be around 40 cents, according to sell-side analysts. Sales will likely be near $2.88 billion.

Corning reported a per-share profit of 51 cents when it published results during the same quarter last year. Sales in that period totaled $3.04 billion. The analyst consensus estimate would represent a 21.57% decrease in the company's earnings. Revenue would have fallen 5.42% from the same quarter last year. Corning's reported EPS has stacked up against analyst estimates in the past like this:

 

Quarter Q2 2019 Q1 2019 Q4 2018 Q3 2018
EPS Estimate 0.440 0.390 0.57 0.49
EPS Actual 0.450 0.400 0.59 0.51

Stock Performance

Over the past 52-week period, shares of Corning have declined 2.99%. Given that these returns are generally negative, long-term shareholders are probably a little upset going into this earnings release.

Over the past 90 days, analysts have adjusted their estimates lower for EPS and revenues. Analysts seem to have settled on a Neutral rating with Corning. The strength of this rating has maintained conviction over the past three months.

Conference Call

Corning is scheduled to hold a conference call at 8:30 a.m. ET and it can be accessed here: https://edge.media-server.com/mmc/p/qh9br866

Posted-In: Earnings News

 

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