Analyst Consensus ?
ConsensusHold37 ratings
Bullish2156.8%
Neutral1437.8%
Bearish25.4%
Corning Inc · GLW · FY2026 Q1 · Calendar Q2 2026
Corning Q1 2026: Sales Up 18% to $4.35B, EPS Beats as Solar Segment Surges 80%
Corning's Q1 2026 results extended the company's growth streak with sales rising 18% year over year to $4.35 billion and EPS climbing 30% to $0.70, both modestly above consensus (EPS surprise +1.2%, revenue surprise +1.1%). Operating margin held at 20.2% for the second consecutive quarter. The quarter's defining developments were an 80% year-over-year surge in Solar sales, now reported as a standalone segment for the first time, and the reaffirmation of large multiyear optical communications agreements including the $6 billion Meta deal alongside two additional hyperscaler contracts. Management announced plans to present an upgraded Springboard growth plan through 2030 at a May 6 investor event. The stock declined approximately 8.9% on the report day, subsequently drifting roughly 24.7% higher. A $30 million expense from a solar wafer plant shutdown is expected to weigh on Q2 EPS.…
Reported Before market openNYSETechnology
$123.38B market cap
100quality score
Company context
Snapshot as of publicationCorning Incorporated operates in optical communications, display, specialty materials, automotive, and life sciences businesses in the United States, Canada, Mexico, Japan, Taiwan, China, South Korea, Germany, and internationally. The company provides optical fibers and cables; and hardware and equipment products, such as cable assemblies, fiber optic hardware and connectors, optical components and couplers, closures, network interface devices, and other accessories for the telecommunications industry, businesses, governments, and individuals. It also offers glass substrates for flat panel displays, including liquid crystal displays and organic light-emitting diodes that are used in televisions, notebook computers, desktop monitors, tablets, and handheld devices.…
Earnings scorecard
Reported versus consensus
Reported EPS
$0.70
Consensus $1
EPS surprise
+1.2%
Reported versus consensus
Reported revenue
$4.34B
Consensus $4.30B
Revenue surprise
+1.1%
Reported versus consensus
Earnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$166.4Current
$45Low
$144Average
$270High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Sep 12, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Truist Securities | Buy | Hold | Upgrade | Aug 3, 2026 |
| Oppenheimer | Outperform | Outperform | Maintain | Jul 29, 2026 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Jul 29, 2026 |
| Mizuho | Outperform | Outperform | Maintain | Jul 29, 2026 |
| JP Morgan | Neutral | Neutral | Maintain | Jul 29, 2026 |
| Citigroup | Buy | Buy | Maintain | Jul 29, 2026 |
| Barclays | Equal Weight | Equal Weight | Maintain | Jul 29, 2026 |
| B of A Securities | Buy | Buy | Maintain | Jul 6, 2026 |
| UBS | Buy | Buy | Maintain | Jun 5, 2026 |
| Susquehanna | Positive | Positive | Maintain | Apr 29, 2026 |
| Argus Research | Buy | Buy | Maintain | Oct 29, 2025 |
| HSBC | Buy | Hold | Upgrade | Jan 30, 2025 |
| Deutsche Bank | Buy | Buy | Maintain | Oct 30, 2024 |
| Fox Advisors | Overweight | Equal Weight | Upgrade | Jun 17, 2024 |
| Credit Suisse | Outperform | Outperform | Maintain | Jul 26, 2023 |
| Goldman Sachs | Buy | Neutral | Upgrade | Jan 27, 2022 |
| Cross Research | Neutral | Buy | Downgrade | Sep 17, 2019 |
| Bank of America | Buy | Neutral | Upgrade | May 1, 2019 |
| Bernstein | Market Perform | Outperform | Downgrade | Feb 1, 2017 |
| Guggenheim | Buy | Buy | Maintain | Jan 4, 2017 |
| Wells Fargo | Perform | Market Perform | Maintain | Dec 21, 2016 |
| Standpoint Research | Hold | Buy | Downgrade | Jun 13, 2016 |
| Drexel Hamilton | Sell | Buy | Downgrade | Jun 10, 2016 |
| Sterne Agee CRT | Neutral | Neutral | Maintain | Sep 28, 2015 |
| Benchmark | Hold | Hold | Maintain | Jul 29, 2015 |
| RBC Capital | Outperform | Sector Perform | Upgrade | Jun 16, 2015 |
| CLSA | Sell | Underperform | Maintain | Apr 29, 2015 |
| Jefferies | Hold | Hold | Maintain | Feb 2, 2015 |
| Standpoint | Buy | Hold | Upgrade | Oct 15, 2014 |
| Stifel Nicolaus | Buy | Buy | Maintain | Oct 23, 2013 |
| Stifel | Buy | Buy | Maintain | Oct 23, 2013 |
| Sterne Agee | Neutral | Buy | Downgrade | Oct 23, 2013 |
| PiperJaffray | Neutral | Overweight | Downgrade | Oct 11, 2013 |
| Piper Sandler | Neutral | Overweight | Downgrade | Oct 11, 2013 |
| Gilford Securities | Buy | Buy | Maintain | Sep 23, 2013 |
| Cantor Fitzgerald | Hold | Hold | Maintain | Sep 19, 2013 |
| Topeka | Buy | Buy | Maintain | Nov 27, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $166.4. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Truist Financial | Analyst unavailable | $175 | $138.25 | +5.2% | Aug 2, 2026 |
| Morgan Stanley | Analyst unavailable | $165 | $125.88 | -0.8% | Jul 29, 2026 |
| Mizuho Securities | Analyst unavailable | $210 | $125.88 | +26.2% | Jul 29, 2026 |
| UBS | Joshua Spector | $196 | $125.88 | +17.8% | Jul 29, 2026 |
| Oppenheimer | Analyst unavailable | $200 | $125.88 | +20.2% | Jul 29, 2026 |
| Barclays | Tim Long | $129 | $125.88 | -22.5% | Jul 29, 2026 |
| Oppenheimer | Martin Yang | $230 | $194.77 | +38.2% | Jul 7, 2026 |
| UBS | Analyst unavailable | $243 | $196.7 | +46.0% | Jul 6, 2026 |
| Mizuho Securities | John Roberts | $270 | $255.54 | +62.3% | Jul 1, 2026 |
| Truist Financial | Matthew Niknam | $205 | $195 | +23.2% | Jun 22, 2026 |
| UBS | Joshua Spector | $228 | $197.93 | +37.0% | Jun 5, 2026 |
| Mizuho Securities | Analyst unavailable | $220 | $207.3 | +32.2% | May 12, 2026 |
| Morgan Stanley | Meta Marshall | $180 | $192.7 | +8.2% | May 8, 2026 |
| Barclays | Tim Long | $180 | $182.42 | +8.2% | May 8, 2026 |
| UBS | Analyst unavailable | $223 | $181.57 | +34.0% | May 7, 2026 |
| Truist Financial | Analyst unavailable | $149 | $149.3 | -10.5% | Apr 29, 2026 |
| Susquehanna | Analyst unavailable | $180 | $153.05 | +8.2% | Apr 29, 2026 |
| Barclays | Tim Long | $149 | $153.05 | -10.5% | Apr 29, 2026 |
| Morgan Stanley | Meta Marshall | $140 | $164.37 | -15.9% | Apr 20, 2026 |
| Mizuho Securities | Analyst unavailable | $160 | $165.1 | -3.8% | Apr 8, 2026 |
| Morgan Stanley | Analyst unavailable | $127 | $139.51 | -23.7% | Feb 23, 2026 |
| Mizuho Securities | Analyst unavailable | $145 | $139.51 | -12.9% | Feb 23, 2026 |
| HSBC | Stephen Bersey | $135 | $131.5 | -18.9% | Feb 13, 2026 |
| UBS | Joshua Spector | $125 | $105.58 | -24.9% | Jan 30, 2026 |
| Morgan Stanley | Analyst unavailable | $103 | $100.86 | -38.1% | Jan 29, 2026 |
| Oppenheimer | Analyst unavailable | $120 | $102.76 | -27.9% | Jan 29, 2026 |
| Susquehanna | Analyst unavailable | $125 | $104.29 | -24.9% | Jan 29, 2026 |
| Mizuho Securities | Analyst unavailable | $120 | $104.29 | -27.9% | Jan 29, 2026 |
| Barclays | Analyst unavailable | $100 | $104.29 | -39.9% | Jan 29, 2026 |
| Wolfe Research | George Notter | $130 | $110.98 | -21.9% | Jan 27, 2026 |
| Morgan Stanley | Meta Marshall | $98 | $86.29 | -41.1% | Dec 17, 2025 |
| UBS | Analyst unavailable | $109 | $78.03 | -34.5% | Nov 21, 2025 |
| Argus Research | Analyst unavailable | $110 | $91.56 | -33.9% | Oct 29, 2025 |
| UBS | Analyst unavailable | $100 | $87.5 | -39.9% | Oct 29, 2025 |
| Morgan Stanley | Analyst unavailable | $82 | $87.5 | -50.7% | Oct 29, 2025 |
| Mizuho Securities | Analyst unavailable | $97 | $86.43 | -41.7% | Oct 29, 2025 |
| Oppenheimer | Analyst unavailable | $100 | $87.5 | -39.9% | Oct 29, 2025 |
| Susquehanna | Analyst unavailable | $100 | $90.01 | -39.9% | Oct 29, 2025 |
| Barclays | Analyst unavailable | $83 | $86.43 | -50.1% | Oct 29, 2025 |
| Morgan Stanley | Analyst unavailable | $75 | $87.19 | -54.9% | Oct 10, 2025 |
| Mizuho Securities | Analyst unavailable | $90 | $82.52 | -45.9% | Oct 3, 2025 |
| UBS | Joshua Spector | $91 | $79.16 | -45.3% | Sep 23, 2025 |
| UBS | Analyst unavailable | $84 | $68.47 | -49.5% | Sep 2, 2025 |
| Mizuho Securities | John Roberts | $74 | $65.77 | -55.5% | Aug 8, 2025 |
| Morgan Stanley | Analyst unavailable | $56 | $62.61 | -66.3% | Jul 30, 2025 |
| Oppenheimer | Analyst unavailable | $72 | $62.61 | -56.7% | Jul 30, 2025 |
| Susquehanna | Analyst unavailable | $75 | $62.61 | -54.9% | Jul 30, 2025 |
| Mizuho Securities | John Roberts | $59 | $53.04 | -64.5% | Jul 15, 2025 |
| Mizuho Securities | John Roberts | $52 | $42 | -68.8% | Apr 15, 2025 |
| HSBC | Stephen Bersey | $60 | $49.8 | -63.9% | Jan 30, 2025 |
| Oppenheimer | Martin Yang | $58 | $48.84 | -65.1% | Oct 30, 2024 |
| Deutsche Bank | Matt Niknam | $54 | $49.03 | -67.5% | Oct 30, 2024 |
| Barclays | Tim Long | $53 | $49.03 | -68.1% | Oct 29, 2024 |
| Bank of America Securities | Wamsi Mohan | $56 | $49.03 | -66.3% | Oct 29, 2024 |
| Deutsche Bank | Matt Niknam | $49 | $45.66 | -70.6% | Oct 9, 2024 |
| Mizuho Securities | John Roberts | $51 | $44.65 | -69.4% | Sep 24, 2024 |
| Bank of America Securities | Wamsi Mohan | $51 | $44.3 | -69.4% | Sep 20, 2024 |
| Susquehanna | Mehdi Hosseini | $55 | $44.33 | -66.9% | Sep 20, 2024 |
| Oppenheimer | Martin Yang | $51 | $44.43 | -69.4% | Sep 20, 2024 |
| Citigroup | Asiya Merchant | $50 | $41.37 | -70.0% | Sep 6, 2024 |
| Mizuho Securities | John Roberts | $47 | $40.73 | -71.8% | Aug 21, 2024 |
| Bank of America Securities | Wamsi Mohan | $46 | $39.74 | -72.4% | Jul 31, 2024 |
| Deutsche Bank | Matt Niknam | $46 | $39.74 | -72.4% | Jul 31, 2024 |
| Morgan Stanley | Meta Marshall | $39 | $42.9 | -76.6% | Jul 26, 2024 |
| Argus Research | Jim Kelleher | $50 | $43.05 | -70.0% | Jul 9, 2024 |
| Mizuho Securities | John Roberts | $42 | $38.75 | -74.8% | Jun 18, 2024 |
| US Capital Advisors | Steve Fox | $45 | $37.25 | -73.0% | Jun 17, 2024 |
| Morgan Stanley | Meta Marshall | $38 | $38.02 | -77.2% | Jun 13, 2024 |
| UBS | Joshua Spector | $38 | $35.55 | -77.2% | May 30, 2024 |
| Mizuho Securities | John Roberts | $36 | $33.44 | -78.4% | May 7, 2024 |
| Susquehanna | Analyst unavailable | $40 | $35.68 | -76.0% | Feb 2, 2023 |
| Susquehanna | Mehdi Hosseini | $50 | $42.12 | -70.0% | Jan 30, 2022 |
| Barclays | Tim Long | $52 | $40.56 | -68.8% | Jan 27, 2022 |
| Oppenheimer | Martin Yang | $48 | $34.93 | -71.2% | Oct 27, 2021 |
Track every rating change on GLW the moment it posts. Free to start.
Start freeMarket reaction
prior-close to event-session close
Stock move
-8.9%
Event window
SPY move
-0.5%
Same window
Abnormal move
-8.4%
Stock minus SPY
Volume
2.0×
Versus trailing sessions
Subsequent drift
+24.7%
Up to 20 sessions
GLWSPY benchmark
Follow GLW with an agent that reads every filing, transcript, and price print. Free to start.
Try FN2 freeTranscript intelligence
What changed
Q1 2026 accelerated from the prior quarter's already strong results. Sales growth improved from 14% YoY (Q4 2025) to 18% YoY (Q1 2026), while EPS growth rose from 26% to 30%. Operating margin remained stable at 20.2% across both quarters. Solar sales surged 80% YoY and are now reported as a standalone segment for the first time. The Meta $6 billion agreement, first announced in Q4 2025, was joined by two additional hyperscaler contracts. Gorilla Glass ceramic 3 was launched as a new product. Management shifted the Springboard timeline from a 2028 horizon ($11 billion incremental sales) to a 2030 extension with higher targets, to be detailed at the May 6 investor event.
Guidance delta
Guidance sentiment shifted from raised (Q4 2025) to maintained (Q1 2026). Capex outlook moved from increasing to stable. Prior-quarter guidance for 15% Q1 sales growth was exceeded by the actual 18% result. Q2 2026 guidance calls for $4.6 billion in sales and EPS of $0.73-$0.77, inclusive of an estimated $30 million expense from a temporary solar wafer plant shutdown.
Key takeaways
- Q1 sales and earnings beat expectations, with operating margin expanding to 20.2%
- Solar segment shows explosive 80% YoY growth and is on track to exceed profitability targets
- Optical Communications secured a $6 billion agreement with Meta and two similar hyperscaler deals
- Management will present an upgraded Springboard roadmap at the May 6 investor event
- A $30 million expense is expected in Q2 due to a temporary shutdown of the solar wafer facility
Management priorities
- Upgrade and extend the Springboard plan through 2030 with higher sales targets
- Roll out additional capacity for solar wafers and modules
- Introduce new Photonics map and associated long-term agreements
- Continue expanding fiber draw capacity for optical communications
- Participate in investor events on May 6 (NYC) and May 19 (JPMorgan conference)
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-07-28T23:51:42.971375+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-07-28T23:51:42.968574+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated . For educational purposes only; not investment advice.