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 YoY Optical 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 YoY Environmental 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 $542M returned to shareholders totaling $11.4B since Oct. 2015 $0.51 in core EPS 28% increase YoY

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Page 1: Third-Quarter 2018 Highlights Q3 - corning.com · Q3 Highlights Q3 $ 22% increase in net sales YoY Optical Communications Outpacing market growth for full-year 2018 Life Sciences

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