Market Overview

Corning Earnings Preview: Analysts Expect Rising Revenue, Falling EPS


Corning (NYSE: GLW) announces its next round of earnings this Wednesday, October 26, 2011. Get the latest predictions in Benzinga's essential guide to the company's third quarter earnings report.

Earnings and Revenue:

Analysts are looking ahead to a positive EPS of 42 cents/share and revenues of $2.02 billion. Corning's latest numbers will no doubt be compared with the company's year-ago quarter, when it reported a profit of 51 cents/share on revenues of $1.6 billion. We'll have to wait for Wednesday to see if Corning reports a decline in EPS and a boost in revenue from the year-ago quarter, as analysts are predicting.

Here's how the company's reported EPS has stacked up against analyst estimates in the past:

Quarter Q2 Q1 Q4 Q3
EPS Estimate $0.47 $0.44 $0.47 $0.52
EPS Actual $0.48 $0.47 $0.46 $0.51

Stock Performance:

At last check, shares of Corning were trading at $14.29. Shares are down 25.4% year to date. For a full 12 months, the return has declined by 21.6%. Given that these returns are generally negative, long-term shareholders are probably a little upset going into this earnings release.

  • Long-term shareholders are already wary of 12-month losses prior to the announcement

Average Stock Rating:

The average rating by analysts for Corning is a Moderate Buy. The strength of this rating has crept upwards over the past three months.


Looking for a sympathy stock to trade or interested in the performance of other companies in the same sector? Take a look at some of Corning's peers.

  • II-VI (NASDAQ: IIVI): Hold with a $0.34 recent quarter EPS
  • 3M Company (NYSE: MMM): Moderate Buy with a $1.60 recent quarter EPS
  • Newport (NASDAQ: NEWP): Hold with a $0.39 recent quarter EPS
  • Owens Corning (NYSE: OC): Moderate Buy with a $0.61 recent quarter EPS

Corning is in the communications components industry, which has experienced price/earnings growth of 0.8%.

Finally, a description of the company's main areas of operation: Corning provides glass for LCD televisions, computer monitors, and other information display applications as well as optical fiber and cable products.

Take Action:

Now that you're fully prepared, get ready to take quick action if the company reports any numbers significantly different from those listed above. Also, check back in with us after the announcement for a full recap and what-to-do-next guide.

  • To see up-to-date news on Corning, click here
  • To see other trading ideas, click here
  • To see other company earnings recaps, click here

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