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FOR RELEASE – OCTOBER 27, 2020
Sales grew mid-teens sequentially, margins expanded significantly, and free cash flow exceeded $500 million
Innovation adoption and strong execution drove performance across company
CORNING, N.Y. – Corning Incorporated (NYSE: GLW) today announced strong financial results for the third quarter ended Sept. 30, 2020.
Wendell P. Weeks, chairman and chief executive officer, said, “We had a very strong quarter financially and operationally. Sales and operating income grew on improving demand and commercialization of our innovations. In all the industries we serve, important market trends are offering new opportunities that we’re uniquely qualified to address, and we’re supporting our customers with more Corning content for the products that people already buy.”
Weeks continued, “While our markets continue to flash green, we remain vigilant in our actions to safeguard the company’s financial strength. Operationally, we’re keeping a tight focus on cost and manufacturing execution.”
“When it comes to the global health fight, we’re all-in – mobilizing our capabilities to combat the virus while prioritizing the health, safety, and well-being of our employees. We are focused on responding effectively to the current global uncertainties, and we continue to rise to the challenges of these times.”
Advancing Key Growth Initiatives in Market-Access Platforms
Corning holds a leadership position in each of the markets addressed by its five Market-Access Platforms. In the third quarter, the company captured significant sales from new material inventions and continued to innovate with industry leaders. Highlights include:
© 2020 Corning Incorporated. All Rights Reserved.
The following information was filed by Corning Inc Ny (GLW) on Tuesday, October 27, 2020 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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