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Last $18.68 USD
Change Today +0.05 / 0.27%
Volume 10.5M
GLW On Other Exchanges
Symbol
Exchange
New York
Mexico
Frankfurt
As of 8:04 PM 07/31/15 All times are local (Market data is delayed by at least 15 minutes).

corning inc (GLW) Snapshot

Open
$18.75
Previous Close
$18.63
Day High
$18.81
Day Low
$18.63
52 Week High
01/28/15 - $25.16
52 Week Low
10/15/14 - $17.03
Market Cap
22.9B
Average Volume 10 Days
12.0M
EPS TTM
$1.28
Shares Outstanding
1.2B
EX-Date
08/27/15
P/E TM
14.5x
Dividend
$0.48
Dividend Yield
2.36%
Current Stock Chart for CORNING INC (GLW)

corning inc (GLW) Details

Corning Incorporated manufactures and sells specialty glasses, ceramics, and related materials worldwide. The company operates through five segments: Display Technologies, Optical Communications, Environmental Technologies, Specialty Materials, and Life Sciences. The Display Technologies segment manufactures glass substrates for active matrix liquid crystal displays (LCDs) that are used primarily in LCD televisions, notebook computers, and flat panel desktop monitors. The Optical Communications segment manufactures optical fiber and cable; and hardware and equipment products comprising cable assemblies, fiber optic hardware and connectors, optical components and couplers, closures, network interface devices, and other accessories. It also provides subscriber demarcation, connection, and protection devices; plant enclosures; and RF interconnects for the cable television industry. The Environmental Technologies segment manufactures ceramic substrates and filter products for emissions control in mobile and stationary, and gasoline and diesel applications. The Specialty Materials segment manufactures products that provide approximately 150 material formulations for glass, glass ceramics, and fluoride crystals. The Life Sciences segment develops, manufactures, and supplies scientific laboratory products, such as general labware and equipment, as well as specialty surfaces, media, and reagents for cell culture research, bioprocessing, genomics, drug discovery, microbiology, and chemistry. It also develops and produces various technologies, including the Corning HYPER platform of vessels for cell yields; Corning Microcarriers for cell scale-up, therapy, and vaccine applications; Corning CellBIND Surface, Matrigel, BioCoat, and Synthemax II surfaces; and Corning stemgro media. The company was formerly known as Corning Glass Works and changed its name to Corning Incorporated in April 1989. Corning Incorporated was founded in 1851 and is based in Corning, New York.

34,600 Employees
Last Reported Date: 02/13/15
Founded in 1851

corning inc (GLW) Top Compensated Officers

Executive Chairman, Chief Executive Officer, ...
Total Annual Compensation: $1.3M
Vice Chairman, Chief Financial Officer, Membe...
Total Annual Compensation: $2.4M
President of Corning Glass Technologies
Total Annual Compensation: $641.7K
Senior Vice President and General Counsel
Total Annual Compensation: $1.0M
Chief Administrative Officer and Executive Vi...
Total Annual Compensation: $668.2K
Compensation as of Fiscal Year 2014.

corning inc (GLW) Key Developments

Corning Incorporated Announces Executive Changes

Corning Incorporated has appointed Lawrence McRae as the vice chairman and corporate development officer; Tony Tripeny as the senior vice president, or SVP, and CFO effective September 1, 2015 and Jeffrey Evenson as the senior vice president, or SVP, and chief strategy officer. All three are members of the company's management committee and will report to Wendell P. Weeks, chairman, CEO and president. McRae, 57, who joined Corning in 1985, will continue to lead the company's corporate development function, focusing on strategic approaches to business development including mergers and acquisitions. He also assumes responsibility for the management of the CEO's office. He has served as a member of the company's management committee since 2006. He serves on the board of directors of the Dow Corning Corporation, Samsung Corning Advanced Glass, LLC, and the Corning Foundation. Tripeny, 56, joined Corning in 1985 as a corporate accounting manager in the company's telecommunications business segment. Tripeny became a member of Corning's executive leadership team in 2011 and the management committee in 2014. He has served as vice president and corporate controller since 2005 and was elected senior vice president, corporate controller and principal accounting officer in 2009 In his new role as CFO, he will oversee the finance and investor relations functions. Evenson, 49, joined Corning in 2011 as senior vice president and operations chief of staff. In his new role as chief strategy officer, he will oversee the corporate strategy and corporate communications functions and a new center of excellence for advanced analytics. Prior to joining Corning, Evenson was a senior vice president and senior analyst at Sanford C. Bernstein, and was a partner at McKinsey & Company where he led technology and market assessments for early-stage technologies. He serves as a trustee at the Corning Museum of Glass and the Corning Foundation. He is also a member of the board of directors of View Inc.

Corning Incorporated Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015

Corning Incorporated reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported net sales of $2,343 million against $2,482 million a year ago. Operating income was $431 million against $460 million a year ago. Income before income taxes was $606 million against $341 million a year ago. Net income attributable to the company was $496 million or $0.36 diluted per share compared to $169 million or $0.11 diluted per share a year ago. Net cash provided by operating activities were $547 million against $743 million a year ago. Capital expenditures were $308 million compared to $232 million a year ago. Core net income attributable to the company was $522 million or $0.38 diluted per share compared to $487 million or $0.34 diluted per share a year ago. Free cash flow was $380 million compared to $583 million a year ago. For the six months, the company reported net sales of $4,608 million against $4,771 million a year ago. Operating income was $843 million against $775 million a year ago. Income before income taxes was $1,099 million against $822 million a year ago. Net income attributable to the company was $903 million or $0.65 diluted per share compared to $470 million or $0.32 diluted per share a year ago. Net cash provided by operating activities were $1,148 million against $2,480 million a year ago. Capital expenditures were $641 million compared to $478 million a year ago. Core net income attributable to the company was $1,006 million or $0.73 diluted per share compared to $910 million or $0.63 diluted per share a year ago.

Corning Inc., Q2 2015 Earnings Call, Jul 28, 2015

Corning Inc., Q2 2015 Earnings Call, Jul 28, 2015

 

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Industry Analysis

GLW

Industry Average

Valuation GLW Industry Range
Price/Earnings 9.6x
Price/Sales 2.4x
Price/Book 1.2x
Price/Cash Flow 7.8x
TEV/Sales 1.2x
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