Corning Inc. (NYSE:GLW) reported better-than-expected fourth-quarter fiscal 2025 results on Wednesday.
The Corning, N.Y.-based company posted adjusted earnings of 72 cents per share, beating analyst estimates of 70 cents.
Core sales rose 14% year over year (Y/Y) to $4.41 billion, exceeding the $4.35 billion consensus. Core EPS grew 26% Y/Y, while core operating margin expanded 390 basis points Y/Y to 20.2%.
For the first quarter, Corning expects core sales of $4.200 billion-$4.300 billion, above the Street estimate of $4.234 billion, and adjusted EPS in the range of 66 to 70 cents, ahead of the 66-cent consensus. Management upgraded its Springboard growth plan, raising long-term revenue targets from the fourth-quarter 2023 baseline.
Corning shares rose 0.7% to $105.00 in pre-market trading.
These analysts made changes to their price targets on Corning following earnings announcement.
- Mizuho analyst John Roberts maintained Corning with an Outperform rating and raised the price target from $97 to $120.
- Susquehanna analyst Mehdi Hosseini maintained the stock with a Positive and raised the price target from $100 to $125.
Considering buying GLW stock? Here’s what analysts think:
Photo via Shutterstock