Corning Incorporated announced its third-quarter 2026 financial results, reporting core sales of $5.08 billion, a 19% increase year over year. This figure represents the strongest growth since the launch of the company's Springboard plan. The results exceeded the company's previously issued guidance.
GAAP sales for the quarter were $4.86 billion, an increase of 18% compared to the prior year. GAAP diluted earnings per share (EPS) were $0.78, up 56% year over year. The company reported GAAP operating cash flow of $1.06 billion.
On a non-GAAP basis, which excludes items related to hedged exposures and discrete tax items, core EPS was $0.91, up 36% year over year. Core gross margin expanded 150 basis points to 40.5%, and core operating margin expanded 310 basis points to 22.7%. Core return on invested capital (ROIC) increased 330 basis points to 16.7%.
Segment performance varied by business unit. Optical Communications drove significant growth, with Q3 sales up 44% to $2.38 billion. Enterprise Networks sales grew 84%, with Gen AI product sales increasing more than 100% year over year. Solar segment sales grew 37% year over year to $436 million, supported by a U.S. trade action under Section 232 of the Trade Expansion Act of 1962. Glass Innovations sales were $1.506 billion, while Automotive sales were $470 million.
Looking ahead, Corning provided guidance for the fourth quarter of 2026. Management expects core sales to grow approximately 19% year over year to a range of $5.2 billion to $5.3 billion. Core EPS is expected to grow approximately 36% year over year to a range of $0.96 to $1.00.
The company noted that it secured four long-term, multibillion-dollar customer agreements during the third quarter, including agreements with Verizon and AT&T. Corning also reported adjusted free cash flow of $661 million for the quarter, with total adjusted free cash flow of $2.27 billion through the first nine months of 2026.
