Corning (GLW) Q4 2025 Earnings Call Transcript

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Wednesday, January 28, 2026 astatine 8:30 a.m. ET

• Chairman & Chief Executive Officer — Wendell Weeks

• Executive Vice President & Chief Financial Officer — Edward Schlesinger

• Vice President, Investor Relations — Ann Nicholson

• Operator

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Edward Schlesinger: As a reminder, the mark-to-market accounting has nary interaction connected our currency flow. Reconciliation of halfway results to the comparable GAAP worth tin beryllium recovered successful the Investor Relations conception of our website astatine corning.com. You whitethorn besides entree halfway results connected our website with downloadable financials successful the interactive expert center. Supporting slides are being shown unrecorded connected our webcast, and we promote you to travel along. Also disposable connected our website for downloading. And present I'll crook the telephone implicit to Wendell. Thank you, Ann, and bully morning, everyone.

Wendell Weeks: Today, we announced 4th fourth and afloat twelvemonth 2025 results. We delivered different fantabulous quarter. Year implicit year, income grew 14% to $4.41 billion, and EPS grew 26% to $0.72. We expanded the operating borderline by 170 ground points to 20.2%, achieving our springboard people a afloat twelvemonth early. Additionally, we expanded ROIC by 150 ground points to 14.2%. For the afloat twelvemonth 2025, versus the anterior year, we delivered double-digit income maturation with EPS increasing doubly arsenic accelerated arsenic income and escaped currency travel increasing 3 times faster than sales. Today besides marks the 2nd day of SpringBoard, and the program has surely been a tremendous occurrence to date.

Since our 4th four, 2023 motorboat point, we person transformed the fiscal illustration of our company. We expanded the operating borderline by 390 ground points to 20.2%. We grew EPS by 85% to $0.72, and we expanded ROIC by 540 ground points to 14%. We besides astir doubled escaped currency travel successful 2025 to $1.72 cardinal from $818 cardinal successful 2023. In total, we present person a highly profitable motorboat constituent for aboriginal growth. And excitingly, we person adjacent stronger semipermanent maturation ahead. Today, we are upgrading our archetypal SpringBoard program to present adhd $11 cardinal successful incremental annualized income by 2028, up from our archetypal $8 billion. So we consciousness large astir our presumption entering 2026.

In 4th one, we expect year-over-year maturation to accelerate with halfway income up astir 15% to a scope of $4.2 to $4.3 billion.

Looking astatine 2026, our interior SpringBoard program present adds $6.5 cardinal successful incremental annualized income by the extremity of the year, up from our erstwhile $6 cardinal plan. And our high-confidence SpringBoard program present adds $5.75 billion, up from our erstwhile $4 cardinal plan. Quite simply, our strategies are working. We are seeing singular request for our innovations successful manufacturing capabilities, and we spot a larger semipermanent maturation accidental done 2026 and beyond. Recently secured lawsuit contracts, including the 1 we conscionable announced with Meta, lone summation our confidence.