Corning’s first-quarter 2026 core sales rose to $4.35 billion, up 18% from $3.68 billion a year earlier and down 2% from $4.41 billion in the fourth quarter of 2025. Core EPS climbed to $0.70 from $0.54 in the prior-year quarter, a 30% increase, though it slipped 3% from $0.72 in Q4 2025.
GAAP sales increased 20% year over year to $4.14 billion from $3.45 billion, while GAAP diluted EPS jumped 139% to $0.43 from $0.18. Net income attributable to Corning rose to $371 million from $157 million a year ago, but fell 31% from $540 million in the previous quarter.
Margins improved sharply from a year earlier. Core gross margin expanded 120 basis points to 39.1%, while core operating margin reached 20.2%. GAAP gross margin was 36.9% and GAAP operating margin was 15.4%. Corning said core operating margin was up 220 basis points year over year and core ROIC increased 190 basis points.
By segment, optical communications was the standout. Sales jumped to $1.85 billion, up 36% from $1.36 billion a year earlier and 9% from $1.70 billion in Q4 2025. Segment net income nearly doubled to $387 million from $201 million. Corning said demand for gen AI products drove the increase.
Solar sales surged to $370 million from $206 million a year ago, an 80% gain, though they fell 22% from $475 million in Q4 2025. Segment net income dropped to $7 million from $27 million a year earlier and $30 million in the prior quarter. Corning said the solar ramp continued, with polysilicon performing above the company’s 20% corporate operating margin target in the quarter.
Glass innovations posted $1.42 billion in sales, essentially flat with $1.41 billion a year earlier and down 5% from $1.50 billion in Q4 2025. Net income in the segment rose to $324 million from $317 million a year ago, but was down from $356 million in the prior quarter.
Automotive sales were $437 million, unchanged from a year earlier and down 1% from Q4 2025. Net income increased to $70 million from $68 million a year ago and from $63 million in the prior quarter.
Life sciences and emerging growth businesses generated $272 million in sales, flat with a year ago and down 8% from $297 million in Q4 2025. The segment posted a $24 million net loss, narrower than the $30 million loss a year earlier but wider than the $15 million loss in Q4 2025.
Corning ended the quarter with $362 million in operating cash flow and $188 million in adjusted free cash flow.
For the second quarter, the company expects core sales of about $4.6 billion, up roughly 14% from a year earlier, and core EPS of $0.73 to $0.77, up about 25% year over year. Corning said that outlook includes an additional $30 million of expense tied to an extended maintenance shutdown at its solar wafer facility. As a result of these announcements, the company's shares have moved 3.77% on the market, and are now trading at a price of $175.89. For the full picture, make sure to review CORNING INC /NY's 8-K report.
