Corning to Provide Financial Update at Credit Suisse Annual Technology Conference

Company expects strong sales and earnings growth in the fourth quarter

CORNING, NY, Nov. 30, 2020 (GLOBE NEWSWIRE) -- At today’s Credit Suisse Annual Technology Conference, Corning Incorporated (NYSE: GLW) Chief Strategy Officer Dr. Jeffrey Evenson will provide investors with an update about the company’s expected financial performance in the fourth quarter of 2020.

Highlights of Dr. Evenson’s remarks will include:

• Fourth-quarter sales are expected to grow 5% to 8% sequentially  
   
• Operating margin is expected to grow at approximately double the rate of sales sequentially

Dr. Evenson will tell conference attendees, “Despite a challenging macro environment, we continue to perform well and deliver meaningful accomplishments across the company. The relevance of our capabilities and our relationships with industry leaders are creating new opportunities for us to support customers with more Corning content. We are generating top- and bottom-line growth in multiple businesses and our strategic investments are paying off. Overall, our performance demonstrates the strength of Corning’s portfolio and our ability to execute.”

Corning’s presentation to investors will be available via webcast by accessing the investor events calendar on Corning’s Investor Relations website at www.corning.com/investor_relations.

Forward-Looking and Cautionary Statements

This press release contains “forward-looking statements” (within the meaning of the Private Securities Litigation Reform Act of 1995), which are based on current expectations and assumptions about Corning’s financial results and business operations, that involve substantial risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties include: the duration and severity of the recent COVID-19 (coronavirus) outbreak, and its ultimate impact across our businesses on demand, operations and our global supply chains; the effects of acquisitions, dispositions and other similar transactions by the Company, the effect of global business, financial, economic and political conditions; tariffs and import duties; currency fluctuations between the U.S. dollar and other currencies, primarily the Japanese yen, New Taiwan dollar, euro, Chinese yuan, and South Korean won; product demand and industry capacity; competitive products and pricing; availability and costs of critical components and materials; new product development and commercialization; order activity and demand from major customers; the amount and timing of our cash flows and earnings and other conditions, which may affect our ability to pay our quarterly dividend at the planned level or to repurchase shares at planned levels; possible disruption in commercial activities due to terrorist activity, cyber-attack, armed conflict, political or financial instability, natural disasters, or major health concerns; unanticipated disruption to equipment, facilities, IT systems or operations; effect of regulatory and legal developments; ability to pace capital spending to anticipated levels of customer demand; rate of technology change; ability to enforce patents and protect intellectual property and trade secrets; adverse litigation; product and components performance issues; retention of key personnel; customer ability, most notably in the Display Technologies segment, to maintain profitable operations and obtain financing to fund their ongoing operations and manufacturing expansions and pay their receivables when due; loss of significant customers; changes in tax laws and regulations including the Tax Cuts and Jobs Act of 2017; and the potential impact of legislation, government regulations, and other government action and investigations.