Form 10-Q · Quarterly report
Corning Inc. 10-Q, filed Oct 29, 2026
- Filed
- CIK
- 0000024741
- Accession no.
- 0000024741-26-000279
Summary
Corning reported third-quarter 2026 net sales of $4,855 million, up 18% from a year earlier, driven mainly by higher optical communications and solar and polysilicon sales, while income before income taxes rose 76% to $968 million. The company attributed the profit increase to the higher gross margin and recorded an effective tax rate of 22.9% for the quarter, versus 14.5% a year earlier, partly due to withholding taxes on foreign earnings that are no longer permanently reinvested.
Key points
- Net sales for the three months ended September 30, 2026 were $4,855 million, up 18% from $4,100 million a year earlier.
- The quarterly increase was driven primarily by a $727 million rise in optical communications sales and a $117 million rise in polycrystalline silicon and solar product sales.
- Gross margin was $1,810 million, or 37% of sales, unchanged as a percentage of sales year over year, with higher Optical Communications profit partly offset by temporarily higher costs to ramp up Solar capacity.
- For the nine months ended September 30, 2026, net sales rose 18% to $13,504 million and income before income taxes rose 56% to $2,146 million.
Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.
From the filing
Item 2. Management’s Discussion RESULTS OF OPERATIONS The following table presents selected highlights from our operations (in millions): Three months ended September 30, % change Nine months ended September 30, % change 2026 2025 2026 vs. 2025 2026 2025 2026 vs. 2025 Net sales $ 4,855 $ 4,100 18 % $ 13,504 $ 11,414 18 % Cost of sales $ 3,045 $ 2,580 18 % $ 8,538 $ 7,288 17 % Gross margin $ 1,810 $ 1,520 19 % $ 4,966 $ 4,126 20 % Gross margin % 37 % 37 % 37 % 36 % Selling, general and administrative expenses $ 563 $ 624 (10 %) $ 1,759 $ 1,610 9 % as a % of net sales 12 % 15 % 13 % 14 % Research, development and engineering expenses $ 314 $ 280 12 % $ 891 $ 826 8 % as a % of net sales 6 % 7…
An excerpt of the text as filed with the SEC, cut for length.
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