Corning Inc Ny (GLW) SEC Filing 10-Q Quarterly report for the period ending Monday, September 30, 2019

Corning Inc Ny

CIK: 24741 Ticker: GLW


Exhibit 99


Corning Reports Third-Quarter 2019 Financial Results Consistent with Management Expectations

Company reaffirms full-year outlook

Management confident in long-term growth

CORNING, N.Y. – Corning Incorporated (NYSE: GLW) today announced results for its third quarter ended Sept. 30, 2019. Results are consistent with the early update issued Sept. 16.

“Corning is successfully taking actions to offset recent headwinds. At the same time, we remain confident in our strategy and continue to advance our long-term growth initiatives,” said Wendell P. Weeks, chairman, chief executive officer, and president.

“Two recent announcements – an additional $250 million investment from Apple in Corning’s advanced manufacturing, as well as FDA approval of Valor Glass packaging for its first commercial use – are testament to our confidence in Corning’s long-term outlook.”

News Summary


Third-quarter results were consistent with Sept. 16 update:


GAAP sales of $2.9 billion and core sales of $3.0 billion


GAAP EPS of $0.38 and core EPS of $0.44


Highlights from the third quarter included:


Display Technologies continued to experience a favorable pricing environment and management now expects the full-year price decline to be a low-single digit percentage, improving from prior expectation of a low-to-mid single digit percentage decline


Environmental Technologies sales grew 20% year over year as the success of the company’s gasoline particulate filter innovation drove sales well above the underlying auto industry growth rate, putting the company on track to exceed $200 million in 2019 GPF sales


Specialty Materials and Life Sciences also grew sales faster than their underlying markets, driven by the strength and relevance of the company’s technology and innovation approach


Optical Communications advanced 5G innovation with key industry leaders


Key actions to offset recent headwinds include:


Reducing operating expenses


Aligning capacity in Display to demand


Idling capacity and pacing capital projects in Optical Communications

© 2019 Corning Incorporated. All Rights Reserved.



The following information was filed by Corning Inc Ny (GLW) on Tuesday, October 29, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Corning Inc Ny's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parentheticals)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Changes In Shareholders' Equity
Consolidated Statements Of Changes In Shareholders' Equity (Parentheticals)
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Income
Commitments, Contingencies And Guarantees
Commitments, Contingencies And Guarantees (Details)
Debt (Details)
Earnings Per Common Share
Earnings Per Common Share (Details)
Earnings Per Common Share (Tables)
Employee Retirement Plans
Employee Retirement Plans (Narrative) (Details)
Employee Retirement Plans (Net Periodic Benefit Expense) (Details)
Employee Retirement Plans (Tables)
Fair Value Measurements
Fair Value Measurements (Major Categories Of Financial Assets And Liabilities Measured On A Recurring Basis) (Details)
Fair Value Measurements (Narrative) (Details)
Fair Value Measurements (Tables)
Hedging Activities
Hedging Activities (Effect On Consolidated Financial Statements) (Details)
Hedging Activities (Narrative) (Details)
Hedging Activities (Summary Of Notional Amounts And Respective Fair Values Of Derivative Financial Instruments) (Details)
Hedging Activities (Tables)
Income Taxes
Income Taxes (Narrative) (Details)
Income Taxes (Provision For Income Taxes) (Details)
Income Taxes (Tables)
Inventories, Net Of Inventory Reserves
Inventories, Net Of Inventory Reserves (Details)
Inventories, Net Of Inventory Reserves (Tables)
Leases (Maturities Of Lease Liabilities Under Previous Lease Standard) (Details)
Leases (Maturities Of Lease Liabilities) (Details)
Leases (Narrative) (Details)
Leases (Supplemental Balance Sheet Information) (Details)
Leases (Tables)
Other Liabilities
Other Liabilities (Details)
Other Liabilities (Tables)
Reportable Segments
Reportable Segments (Narrative) (Details)
Reportable Segments (Reconciliation Of Reportable Segment And All Other Net Sales To Consolidated Net Sales) (Details)
Reportable Segments (Reconciliation Of Reportable Segment Net Income To Consolidated Net Income (Loss)) (Details)
Reportable Segments (Reportable Segments) (Details)
Reportable Segments (Tables)
Revenue (Disaggregation Of Revenue) (Details)
Revenue (Narrative) (Details)
Revenue (Tables)
Shareholders' Equity
Shareholders' Equity (Accumulated Other Comprehensive Income (Loss)) (Details)
Shareholders' Equity (Narrative) (Details)
Shareholders' Equity (Tables)
Significant Accounting Policies
Significant Accounting Policies (Details)
Significant Accounting Policies (Policy)

Material Contracts, Statements, Certifications & more

Corning Inc Ny provided additional information to their SEC Filing as exhibits

Ticker: GLW
CIK: 24741
Form Type: 10-Q Quarterly Report
Accession Number: 0000024741-19-000061
Submitted to the SEC: Wed Oct 30 2019 3:53:36 AM EST
Accepted by the SEC: Wed Oct 30 2019
Period: Monday, September 30, 2019
Industry: Drawing And Insulating Of Nonferrous Wire

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