Corning’s Q3 Sales Beat Estimates as Q4 EPS Guidance Tops Forecasts

Corning’s third-quarter core sales and earnings per share beat estimates, while its fourth-quarter outlook put earnings above forecasts and sales at or above the expected level.

Core sales totaled $5.08 billion, $60 million above the $5.02 billion estimate. Core earnings per share were 91 cents, 2 cents above the 89-cent estimate.

The quarter’s results also exceeded the ranges Corning set in its July forecast. The company had projected third-quarter core sales of $4.9 billion to $5 billion and core earnings per share of 85 to 89 cents. Actual sales were $80 million above the range’s upper end, while earnings per share were 2 cents higher.

For the fourth quarter, Corning projected core earnings per share of 96 cents to $1, compared with an estimate of 93 cents. Its core sales outlook is $5.2 billion to $5.3 billion; the range starts at the $5.2 billion estimate and extends $100 million above it.