CORNING INC /NY
For the period ended Jun 30, 2025. Filed Aug 1, 2025.
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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.
Jun 30, 2025 · Filed Aug 1, 2025
GLW$115.95+9.3%Stored close · as of Nov 9, 2026
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Item 1. Financial Statements
| Consolidated Statements of Income | Corning Incorporated and Subsidiary Companies |
|---|---|
| (Unaudited; in millions, except per share amounts) | |
| Three months endedJune 30, | Six months endedJune 30, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| Net sales | $3,862 | $3,251 | $7,314 | $6,226 |
| Cost of sales | 2,470 | 2,302 | 4,708 | 4,284 |
| Gross margin | 1,392 | 949 | 2,606 | 1,942 |
| Operating expenses: | ||||
| Selling, general and administrative expenses | 515 | 471 | 986 | 922 |
| Research, development and engineering expenses | 276 | 262 | 546 | 520 |
| Amortization of purchased intangibles | 28 | 30 | 56 | 60 |
| Operating income | 573 | 186 | 1,018 | 440 |
| Interest income | 5 | 10 | 17 | 22 |
| Interest expense | (83) | (84) | (165) | (167) |
| Translated earnings contract gain, net (Note 13) | 131 | 27 | 30 | 66 |
| Other (expense) income, net | (42) | 33 | (76) | 107 |
| Income before income taxes | 584 | 172 | 824 | 468 |
| Provision for income taxes (Note 4) | (84) | (50) | (139) | (121) |
| Net income | 500 | 122 | 685 | 347 |
| Net income attributable to non-controlling interest | (31) | (18) | (59) | (34) |
| Net income attributable to Corning Incorporated | $469 | $104 | $626 | $313 |
| Earnings per common share available to common shareholders: | ||||
| Basic (Note 5) | $0.55 | $0.12 | $0.73 | $0.37 |
| Diluted (Note 5) | $0.54 | $0.12 | $0.72 | $0.36 |
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