CORNING INC NY

For the period ended Sep 30, 2024. Filed Nov 1, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2024 · Filed Nov 1, 2024

GLW$115.95+9.3%Stored close · as of Nov 9, 2026

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Contents

PART I – FINANCIAL INFORMATION Item 1. Financial Statements Consolidated Statements of (Loss) Income

(Unaudited; in millions, except per share amounts)
Consolidated Statements of (Loss) Income	Corning Incorporated and Subsidiary Companies

Three months ended · Nine months ended
	September 30,		September 30,
	2024	2023	2024	2023
Net sales	$3,391	$3,173	$9,617	$9,594
Cost of sales	2,254	2,169	6,538	6,574
Gross margin	1,137	1,004	3,079	3,020
Operating expenses:
Selling, general and administrative expenses	510	468	1,432	1,329
Research, development and engineering expenses	294	270	814	787
Amortization of purchased intangibles	31	30	91	92
Operating income	302	236	742	812
Interest income	12	10	34	25
Interest expense	(83)	(82)	(250)	(239)
Translated earnings contract (loss) gain, net (Note 12)	(157)	20	(91)	128
Other (loss) income, net	(166)	33	(59)	128
(Loss) income before income taxes	(92)	217	376	854
Provision for income taxes (Note 4)	(3)	(35)	(124)	(178)
Net (loss) income	(95)	182	252	676
Net income attributable to non-controlling interest	(22)	(18)	(56)	(55)
Net (loss) income attributable to Corning Incorporated	$(117)	$164	$196	$621
(Loss) earnings per common share available to common shareholders:
Basic (Note 5)	$(0.14)	$0.19	$0.23	$0.73
Diluted (Note 5)	$(0.14)	$0.19	$0.23	$0.72

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