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    Corning Upgrades High-Confidence Springboard Plan to Now Add More Than $4 Billion in Annualized Sales, and to Achieve Operating Margin of 20%, by End of 2026 (1)

    Corning Incorporated (NYSE: GLW) today announced an upgrade to its Springboard plan, along with details on the key milestones achieved across the company, at an investor event in New York City.

    This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250317478788/en/

    Wendell P. Weeks, chairman and chief executive officer, said, “Today, we upgraded our high-confidence Springboard plan to now add more than $4 billion in annualized sales, and to achieve operating margin of 20%, by the end of 2026. We expect our upgraded sales to come with higher EPS and stronger cash flow and ROIC than we originally anticipated at the start of Springboard.”

    Weeks continued, “Overall, we’re making great progress on Springboard across the company. Our strategies are working, and our customers are loving our innovations. As a result, in addition to upgrading our Springboard plan, we are raising our first-quarter guidance. We are also excited to launch a new Solar Market-Access Platform, which we expect to be a $2.5 billion business by 2028, with a positive impact on sales, profit, and cash flow later this year.”

    Ed Schlesinger, executive vice president and chief financial officer, said, “When we introduced Springboard one year ago, we laid out a compelling financial plan to deliver robust sales, profit, and cash flow. Since the start of Springboard, we have grown core sales 18% and core EPS 46%, while expanding core operating margin to 18.5%. We also expanded core ROIC 390 basis points. Additionally, we grew adjusted free cash flow by 42% for full-year 2024.”

    Schlesinger continued, “Today, we’re providing a significant upgrade to what was already a quite attractive investment thesis. We’ve upgraded our high-confidence Springboard plan by $1 billion. We now expect to add more than $4 billion in annualized sales, and to achieve a 20% operating margin, by the end of 2026.”

    Highlights from Springboard Investor Event

    • Company upgrades Springboard plan
      • Management upgrades its high-confidence Springboard plan to now add more than $4 billion in annualized sales, and to achieve operating margin of 20%, by the end of 2026. The company expects the upgraded sales to come with higher EPS and stronger cash flow and ROIC than originally anticipated at the start of Springboard.
      • Management also upgrades its internal Springboard plan to now add $6 billion in annualized sales by the end of 2026. The internal plan reflects the actual business plans of each Market-Access Platform without corporate-level risk adjustment.
    • Management raises first-quarter guidance
      • Management now expects full-company sales to exceed $3.6 billion and EPS to come in at the high end of the range of $0.48 to $0.52.
    • Gen AI products driving faster growth in Optical Communications
      • Management raises expected Enterprise 2023-2027 sales CAGR from 25% to 30%, driven by the continued strong adoption of new Gen AI products for inside data centers.
      • Corning introduced a new Gen AI fiber and cable system last year to interconnect AI data centers, enabling from two-to-four times the amount of fiber into an existing conduit. The company’s Carrier business has now fully commercialized these products, with production tripling every month in Q1, as three industry-leading customers adopt the technology.
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    Corning Upgrades High-Confidence Springboard Plan to Now Add More Than $4 Billion in Annualized Sales, and to Achieve Operating Margin of 20%, by End of 2026 (1) Corning Incorporated (NYSE: GLW) today announced an upgrade to its Springboard plan, along with details on the key milestones achieved across the company, at an investor event in New York City. This press release features multimedia. View the full …