By Dean Seal
Corning gave its first-quarter guidance and long-term financial targets a boost as it makes progress on its so-called "Springboard" plan to add billions of dollars in sales in the coming years.
The maker of specialty glass for TV screens and smartphones said Tuesday that it now expects core sales to exceed its previous $3.6 billion target for the first quarter, and for earnings to come in toward the high-end of outlook for 48 cents to 52 cents a share.
Corning also said it now expects its Springboard plan, introduced a year ago, to add more than $4 billion in annualized sales by the end of 2026 instead of $3 billion.
"Overall, we're making great progress on Springboard across the company," Chief Executive Wendell Weeks said. "Our strategies are working, and our customers are loving our innovations."
Corning has also raised the sales outlook for its optical communications enterprise business, citing strong adoption of new generative AI products that are used inside data centers.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
March 18, 2025 08:49 ET (12:49 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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