GLW · Corning Inc. Q2 FY2026 earnings call record财报电话会记录

“We expect to deliver a sales CAGR of 19% from quarter four 2026 to quarter four 2030, while growing earnings faster than sales with significantly higher returns on invested capital and substantially more free cash flow.”

“Gross margin expanded 120 basis points to 39.6%.”

“Operating margin expanded 190 basis points to 20.9%.”

“ROIC expanded 180 basis points to 14.9%, and we grew free cash flow to $1.42 billion.”

“Our results were led by Optical Communications, where we grew sales 32% year-over-year to over $2 billion, and net income grew 77% to $438 million.”

“We continue to see strong demand for our Gen AI products at Enterprise Networks, and our orders are accelerating.”

“When I put all of these technical drivers together, we calculate that the demand for optical content per GPU in our enterprise map will increase by 1.3x-1.5x by 2028.”

“We expect to deliver a sales CAGR of 19% from quarter four 2026 to quarter four 2030, while growing earnings faster than sales, with significantly higher returns on invested capital and substantially more free cash flow.”

“Diesel sales grew 3% year-over-year and 13% sequentially, driven by improving North American Class 8 orders.”

“Shifting to our outlook, in the third quarter, we expect sales to grow approximately 16% year-over-year to a range of $4.9 billion-$5 billion, and Core EPS to grow approximately 28% year-over-year to a range of $0.85-$0.89.”

“As part of Springboard, we are deepening key customer relationships with long-term agreements to more appropriately share the risk and cost of our acquired expansions with our customers.”

“When we create value for our customers with our innovations, we get to keep a portion of that value of the innovation, and that is what's driving this really significant increase in profitability that you see.”