Latest news with #Springboard
CNBC
3 hours ago
- Business
- CNBC
Two stocks that could win from Apple's U.S. manufacturing effort pushed by Trump
Glass cover and materials stocks Corning and Coherent stand to gain from Apple's plan to invest billions in the U.S., according to analysts. Both were named strategic partners as Apple CEO Tim Cook joined President Donald Trump at the White House on Wednesday and pledged to invest $600 billion domestically over a four-year period and step up its U.S. manufacturing. Corning and Coherent already have "long standing" ties with the iPhone maker's U.S. plants, said Morgan Stanley analyst Meta Marshall. She noted that Corning already produces 100% of the cover glass for Apple's phones and tablets, she noted. "There are additional devices or form factors (e.g. bendable) that could be produced, expanding opportunity over time," she said, of the impact on Corning's business. Elsewhere, Bank of America analyst Wamsi Mohan reiterated his buy rating on Corning stock in a Wednesday note, and raised his price target to $75 per share. BofA's forecast calls for about 17% upside from Wednesday's $63.98 close. "This commitment strengthens GLW and Apple's partnership which can lead to incremental upside for Corning, specifically as Apple potentially launches a foldable iPhone in 2026," Mohan said. "The commitment will increase Corning's manufacturing and engineering workforce in Kentucky by 50% and the two companies will also open a joint Innovation Center at the Kentucky facility." "Apple's investment creates the opportunity for Corning to participate in the foldable cover glass market in the 2026 iPhone, which in our opinion was not contemplated in the original Springboard plan," the analyst added. Corning shares were up nearly 2% Thursday, hitting a 52-week high intraday. Shares have gained about 37% year to date. Coherent's stock jumped almost 4%, and also hit a fresh 52-week high. Its shares have gained more than 17% year to date. Marshall said she's "more cautious" on the near-term implications for Corning, and said even if Coherent gained full share of Apple's business, it would be a "relatively small impact to the company."
Yahoo
29-07-2025
- Business
- Yahoo
Corning Eyes More Growth As AI, Solar Demand Surges
Corning Inc. (NYSE:GLW) reported better-than-expected second-quarter 2025 results Tuesday and announced a third-quarter outlook, citing continued strong demand for its generative AI and U.S.-made solar products. The company posted adjusted earnings of 60 cents per share, beating analyst estimates of 57 cents. Core sales rose 12% year-over-year to $4.04 billion, exceeding the $3.86 billion consensus. Core EPS grew 28%, while adjusted free cash flow increased 28% to $451 million. The core operating margin expanded by 160 basis points to 19%.On a GAAP basis, Corning reported $3.86 billion in revenue, up from $3.25 billion a year ago, and net income of $469 million, compared with $104 million in the same quarter last year. The company said the difference between GAAP and core EPS primarily reflected mark-to-market adjustments on currency-related contracts and constant currency changes. Optical Communications revenue rose 41% to $1.57 billion, driven by an 81% year-over-year increase in enterprise sales. Display sales declined 11% year over year to $898 million. 'Year over year, core sales grew 12% while core operating margin expanded 160 basis points to 19%, core EPS grew 28%, and core ROIC improved 210 basis points to 13.1%,' said Ed Schlesinger, executive vice president and chief financial officer. 'Additionally, adjusted free cash flow grew 28% year-over-year to $451 million.' View more earnings on GLW Specialty Materials revenue climbed 9% to $545 million, while Automotive sales declined 4% to $460 million. Life Sciences held steady at $250 million. Hemlock and Emerging Growth Businesses' revenue increased 31% to $326 million. Operating cash flow for the quarter was $708 million, with adjusted free cash flow at $451 million, both up from the prior year. 'We expect our strong Springboard performance to continue,' said Wendell P. Weeks, chairman and chief executive officer. 'Customer response to our new Gen AI and U.S.-made solar products has been remarkable. We're driving more Corning content into our Mobile Consumer Electronics, Display, Automotive, and Optical Communications platforms. We also anticipate new growth drivers to emerge, as customers increasingly leverage our large U.S. advanced manufacturing footprint.' Outlook For the third quarter, Corning expects core sales of $4.2 billion, above the Street estimate of $4.01 billion, and adjusted EPS in the range of 63 to 67 cents, ahead of the 61-cent consensus. Management anticipates continued strong performance under its Springboard plan, with double-digit year-over-year growth in both sales and earnings. Guidance includes a $0.01 to $0.02 impact from tariffs and a $0.02 to $0.03 temporary cost increase associated with scaling production to meet demand for Gen AI and solar offerings. Price Action: GLW shares are trading higher by 13.3% to $62.77 at last check Tuesday. Read Next:Photo via Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? CORNING (GLW): Free Stock Analysis Report This article Corning Eyes More Growth As AI, Solar Demand Surges originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved.
Business Wire
29-07-2025
- Business
- Business Wire
Corning Announces Outstanding Second-Quarter 2025 Financial Results(1) Highlighted by Record Core Sales and Core EPS
CORNING, N.Y.--(BUSINESS WIRE)--Corning Incorporated (NYSE: GLW) today announced its second-quarter 2025 results and provided its outlook for third-quarter 2025. Wendell P. Weeks, chairman and chief executive officer, said, 'We delivered an outstanding second quarter, with core sales up 12% year over year to $4.05 billion and core EPS growing more than double that rate to $0.60. Overall, key secular trends and our 'More Corning' content strategy drove demand for our capabilities, and we continued to capture the powerful profitable growth outlined in our recently upgraded Springboard plan.' Weeks continued, 'Looking ahead, we expect our strong Springboard performance to continue. We're seeing remarkable customer response to both our new Gen AI and U.S.-made solar products. And we're driving more Corning content into our Mobile Consumer Electronics, Display, Automotive, and Optical Communications platforms. We also expect an additional growth driver to emerge in the coming months, as new and existing customers seek to leverage our large U.S. advanced manufacturing footprint. In total, we are positioned to deliver durable growth that will serve us well through 2026 and beyond.' Ed Schlesinger, executive vice president and chief financial officer, said, 'Our excellent second-quarter results exceeded guidance, and we again demonstrated our ability to significantly enhance our return profile as we execute Springboard. Year over year, core sales grew 12% while core operating margin expanded 160 basis points to 19%, core EPS grew 28%, and core ROIC grew 210 basis points to 13.1%. Additionally, adjusted free cash flow grew 28% year over year to $451 million.' Schlesinger continued, 'For the third quarter, we expect continued strong performance on our Springboard plan and double-digit sales and earnings growth year over year, with core sales of $4.2 billion and core EPS in a range of $0.63 to $0.67. Our guidance factors in about $0.01 to $0.02 for the impact of currently enacted tariffs, along with $0.02 to $0.03 of temporarily higher cost as we ramp to meet increased demand for our new Gen AI and U.S.-made solar products.' Second-Quarter 2025 Financial Highlights: GAAP sales were $3.86 billion. Core sales were $4.05 billion. GAAP EPS was $0.54. Core EPS was $0.60. The difference between GAAP and core EPS primarily reflected non-cash, mark-to-market adjustments associated with the company's translated earnings contracts and foreign-denominated debt and also reflected constant currency adjustments. GAAP gross margin was 36.0% and core gross margin was 38.4%, reflecting 680-basis-point and 50-basis-point year-over-year improvements, respectively. GAAP operating cash flow was $708 million, and adjusted free cash flow was $451 million, both up year over year. Third-Quarter 2025 Outlook: In the third quarter, management expects continued strong performance on its Springboard plan and double-digit sales and earnings growth year over year, with core sales of $4.2 billion and profit again growing faster than sales, with core EPS in a range of $0.63 to $0.67. Third-quarter guidance factors in about $0.01 to $0.02 for the impact of currently enacted tariffs, along with $0.02 to $0.03 of temporarily higher cost as production ramps to meet increased demand for new Gen AI and U.S.-made solar products. Second-Quarter 2025 Results and Comparisons (In millions, except per-share amounts) Results (GAAP) Q2 2025 Q1 2025 Q2 2024 Q/Q Y/Y Net Sales $3,862 $3,452 $3,251 12% 19% Net Income (1) $469 $157 $104 199% 351% Diluted EPS $0.54 $0.18 $0.12 200% 350% Expand (1) Represents GAAP net income attributable to Corning Incorporated Expand Core Results (Non-GAAP)(1) Q2 2025 Q1 2025 Q2 2024 Q/Q Y/Y Core Sales $4,045 $3,679 $3,604 10% 12% Core Net Income $523 $467 $407 12% 29% Core EPS $0.60 $0.54 $0.47 11% 28% Expand (1) Core performance measures are non-GAAP financial measures. The reconciliation between GAAP and non-GAAP measures is provided in the tables following this news release as well as on the company's website. Expand Second-Quarter 2025 Segment Results (In millions) The second-quarter results below are prepared on a basis consistent with Corning's segment reporting as presented in the company's consolidated financial statements. As of Jan. 1, 2025, the company moved its Automotive Glass Solutions business along with its Environmental Technologies business into a new Automotive segment. The comparative segment information has been recast to conform to the changes in Corning's segment reporting. Optical Communications Q2 2025 Q1 2025 Q2 2024 Q/Q Y/Y Net Sales $1,566 $1,355 $1,113 16% 41% Net Income $247 $201 $143 23% 73% Expand Display Q2 2025 Q1 2025 Q2 2024 Q/Q Y/Y Net Sales $898 $905 $1,014 (1%) (11%) Net Income $243 $243 $258 —% (6%) Expand Specialty Materials Q2 2025 Q1 2025 Q2 2024 Q/Q Y/Y Net Sales $545 $501 $501 9% 9% Net Income $81 $74 $63 9% 29% Expand Automotive Q2 2025 Q1 2025 Q2 2024 Q/Q Y/Y Net Sales $460 $440 $479 5% (4%) Net Income $79 $68 $71 16% 11% Expand Life Sciences Q2 2025 Q1 2025 Q2 2024 Q/Q Y/Y Net Sales $250 $234 $249 7% —% Net Income $18 $13 $17 38% 6% Expand Hemlock and Emerging Growth Businesses Q2 2025 Q1 2025 Q2 2024 Q/Q Y/Y Net Sales $326 $244 $248 34% 31% Net (Loss) Income ($10) ($16) $3 38% * Expand *Not meaningful Expand Upcoming Investor Events Corning will attend Citi's 2025 Global TMT Conference on Sept. 4, 2025. In addition, the company will schedule management visits to investor offices in select cities. Visit the company's Investor Relations website for up-to-date information. Second-Quarter Conference Call Information The company will host its second-quarter conference call on Tuesday, July 29, at 8:30 a.m. EDT. To participate, individuals may preregister here prior to the start of the call. Once the required fields are completed, click 'Register.' A telephone number and PIN will be auto generated and will pop up on screen. Participants will have the choice to 'Dial In' or have the system 'Call Me.' A confirmation email will also be sent with specific dial-in information. To listen to a live audio webcast of the call, go to the company's Investor Relations events page and follow the instructions. Presentation of Information in this News Release This news release includes non-GAAP financial measures. Non-GAAP financial measures are not in accordance with, or an alternative to, GAAP. Corning's non-GAAP financial measures exclude the impact of items that are driven by general economic conditions and events that do not reflect the underlying fundamentals and trends in the company's operations. The company believes presenting non-GAAP financial measures assists in analyzing financial performance without the impact of items that may obscure trends in the company's underlying performance. Definitions of these non-GAAP financial measures and reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures can be found on the company's website by going to the Investor Relations page and clicking 'Quarterly Results' under the 'Financials and Filings' tab. These reconciliations also accompany this news release. With respect to the outlook for future periods, it is not possible to provide reconciliations for these non-GAAP measures because management does not forecast the movement of foreign currencies against the U.S. dollar, or other items that do not reflect ongoing operations, nor does it forecast items that have not yet occurred or are out of management's control. As a result, management is unable to provide outlook information on a GAAP basis. Caution Concerning Forward-Looking Statements The statements contained in this release and related comments by management that are not historical facts or information and contain words such as 'will,' 'believe,' 'anticipate,' 'expect,' 'intend,' 'plan,' 'seek,' 'see,' 'would,' 'target,' 'estimate,' 'forecast' or similar expressions are forward-looking statements. These forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and include estimates and assumptions related to economic, competitive and legislative developments. Such statements relate to future events that by their nature address matters that are, to different degrees, uncertain. These forward-looking statements relate to, among other things, the Company's Springboard plan, the company's future operating performance, the company's share of new and existing markets, the company's revenue and earnings growth rates, the company's ability to innovate and commercialize new products, the company's expected capital expenditure and the company's implementation of cost-reduction initiatives and measures to improve pricing, including the optimization of the company's manufacturing capacity. Although the company believes that these forward-looking statements are based upon reasonable assumptions regarding, among other things, current estimates and forecasts, general economic conditions, its knowledge of its business and key performance indicators that impact the company, there can be no assurance that these forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws. Some of the risks, uncertainties and other factors that could cause actual results to differ materially from those expressed in or implied by the forward-looking statements include, but are not limited to: global economic trends, competition and geopolitical risks, or an escalation of sanctions, tariffs or other trade tensions between the U.S. and other countries, and related impacts on our businesses' global supply chains and strategies; changes in macroeconomic and market conditions and market volatility, including developments and volatility arising from health crisis events, inflation, interest rates, the value of securities and other financial assets, precious metals, oil, natural gas, raw materials and other commodity prices and exchange rates (particularly between the U.S. dollar and the Japanese yen, South Korean won, Chinese yuan, New Taiwan dollar, Mexican peso and euro), decreases or sudden increases of consumer demand, and the impact of such changes and volatility on our financial position and businesses; the availability of or adverse changes relating to government grants, tax credits or other government incentives; the duration and severity of health crisis events, such as an epidemic or pandemic, and its impact across our businesses on demand, personnel, operations, our global supply chains and stock price; possible disruption in commercial activities or our supply chain due to terrorist activity, cyber-attack, armed conflict, political or financial instability, natural disasters, international trade disputes or major health concerns; loss of intellectual property due to theft, cyber-attack, or disruption to our information technology infrastructure; ability to enforce patents and protect intellectual property and trade secrets; disruption to Corning's, our suppliers' and manufacturers' supply chain, equipment, facilities, IT systems or operations; product demand and industry capacity; competitive products and pricing; availability and costs of critical components, materials, equipment, natural resources and utilities; new product development and commercialization; order activity and demand from major customers; the amount and timing of our cash flows and earnings and other conditions, which may affect our ability to pay our quarterly dividend at the planned level or to repurchase shares at planned levels; the amount and timing of any future dividends; the effects of acquisitions, dispositions and other similar transactions; the effect of regulatory and legal developments; ability to pace capital spending to anticipated levels of customer demand; our ability to increase margins through implementation of operational changes, pricing actions and cost reduction measures; rate of technology change; adverse litigation; product and component performance issues; retention of key personnel; customer ability to maintain profitable operations and obtain financing to fund ongoing operations and manufacturing expansions and pay receivables when due; loss of significant customers; changes in tax laws, regulations and international tax standards; the impacts of audits by taxing authorities; the potential impact of legislation, government regulations, and other government action and investigations; and other risks detailed in Corning's SEC filings. For a complete listing of risks and other factors, please reference the risk factors and forward-looking statements described in our annual reports on Form 10-K and quarterly reports on Form 10-Q. Web Disclosure In accordance with guidance provided by the SEC regarding the use of company websites and social media channels to disclose material information, Corning Incorporated ('Corning') wishes to notify investors, media, and other interested parties that it uses its website ( to publish important information about the company, including information that may be deemed material to investors, or supplemental to information contained in this or other press releases. The list of websites and social media channels that the company uses may be updated on Corning's media and website from time to time. Corning encourages investors, media, and other interested parties to review the information Corning may publish through its website and social media channels as described above, in addition to the company's SEC filings, press releases, conference calls, and webcasts. About Corning Incorporated Corning ( is one of the world's leading innovators in materials science, with a 170-year track record of life-changing inventions. Corning applies its unparalleled expertise in glass science, ceramic science, and optical physics along with its deep manufacturing and engineering capabilities to develop category-defining products that transform industries and enhance people's lives. Corning succeeds through sustained investment in RD&E, a unique combination of material and process innovation, and deep, trust-based relationships with customers who are global leaders in their industries. Corning's capabilities are versatile and synergistic, which allows the company to evolve to meet changing market needs, while also helping its customers capture new opportunities in dynamic industries. Today, Corning's markets include optical communications, mobile consumer electronics, display, automotive, solar, semiconductors, and life sciences.
Hans India
27-07-2025
- Business
- Hans India
SBIT student secures national rank in Infosys springboard prog
Khammam: Jampala Sindhu, a first-year student at SBIT college, has achieved national recognition by securing the second position in the Infosys Springboard certification programme. She completed 148 certifications, making her one of the top performers across the country. Sindhu was felicitated by the college management in the presence of academic directors and department heads for bringing national acclaim to the institution. The accomplishment comes under the institute's ongoing collaboration with Infosys, which provides students with access to the Springboard online learning platform. College Chairman Gundala Krishna stated that students were encouraged to begin skill development even before the start of their academic sessions.
Entrepreneur
16-07-2025
- Business
- Entrepreneur
Infosys Foundation Launches Springboard Livelihood Program to Support 5 Lakh Job Seekers by 2030
Through this programme, both graduates and undergraduates will receive training tailored to employment across STEM and non-STEM sectors. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Infosys Foundation has announced the launch of the Infosys Springboard Livelihood Program, an ambitious initiative aimed at helping five lakh job seekers in India find meaningful employment by 2030. The Foundation has committed over INR 200 crore for the first phase of the programme. The initiative is part of the broader Infosys Springboard platform, which focuses on digital learning and skills development. Through this programme, both graduates and undergraduates will receive training tailored to employment across STEM and non-STEM sectors. Learners will have access to industry-relevant courses in emerging technologies such as artificial intelligence and machine learning. The programme also includes functional training in areas like digital marketing and finance. To enhance workplace readiness, foundational modules will cover soft skills such as communication, time management, and interview preparation. "The programme reflects Infosys Foundation's commitment to bridge the gap between learning and fostering sustainable livelihoods," said Sumit Virmani, Trustee, Infosys Foundation. "By partnering with experts and investing in industry-relevant curricula, the Infosys Springboard Livelihood Program empowers talented youth in India to secure and sustain rewarding careers." Infosys Foundation has partnered with 20 implementation organisations to deliver this initiative, including ICT Academy, Unnati, Nirmaan, Magic Bus, Aga Khan Rural Support Programme, Centum, CII Foundation, and NIIT Foundation. These partners will support in curating job opportunities and building structured career pathways for learners. V Srikanth, Chief Executive Officer of ICT Academy, noted the growing need for skilled talent in diverse sectors. "The demand for a workforce skilled in advanced IT, KPO, BFSI, Retail, e-commerce, and logistics has never been higher. We are proud to collaborate with Infosys Foundation to help build a stronger, future-ready India." The programme aims to foster inclusive growth by preparing India's youth for a dynamic job market.
