third-quarter 2018 highlights q3 - corning.com · q3 highlights q3 $ 22% increase in net sales yoy...
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Q3 Highlights
Q3
$22% increase in net sales YoYOptical Communications
Outpacing market growth for full-year 2018 Life Sciences
Delivered stable returns Display Technologies
Full-year sales expected to exceed $11.3 billion
23% increase in net sales YoY Specialty Materials
19% increase in net sales YoYEnvironmental Technologies
“In the third quarter, all businesses delivered excellent results, with year-over-year sales and profit growth in each. We expect very strong performance again for the fourth quarter and full year, and now expect to exceed $11.3 billion in sales for 2018. Having passed an inflection point, we are gaining momentum and plan to build on that going forward. Putting it all together, we are now seeing our four-year, $10 billion, investment drive growth and extend our leadership. We are also rewarding investors by returning more than $12.5 billion, which compounds the benefit of our future growth for long-term shareholders.”
-Tony Tripeny, senior vice president and CFO
Third-Quarter 2018 Highlights
“We had an excellent quarter, with 16% sales growth and 28% EPS growth. These results demonstrate a step change in our earnings power created by investments in innovation and capacity. Our annualized sales run rate now exceeds $12 billion, growth is accelerating, and our margins are expanding. Execution across the company is outstanding”
-Wendell P. Weeks, chairman and CEO
© 2018 Corning Incorporated. All Rights Reserved.
All businesses contributed to strong Q3 growth and margin expansion
core gross margin up significantly vs 1H ‘18
42%in core sales
16% increase YoY
$3B $542Mreturned to shareholders
totaling $11.4B since Oct. 2015
$0.51in core EPS
28% increase YoY