Corning (GLW) FY2024 results: revenue $13.1 billion, up 4.2% on the year
Corning Inc. (GLW) reported revenue of $13.1 billion for fiscal 2024, the year ended 31 December 2024, up 4.2% on the year before. Net income was $506 million, down 12.9%, and diluted earnings per share $0.58. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2025.
Revenue
$13.1 billion
+4.2% on the year
FY2017FY2024
Operating margin
8.7%
7.1% a year earlier
FY2017FY2024
Net income
$506 million
-12.9% on the year
FY2017FY2024
Diluted EPS
$0.58
-14.7% on the year
FY2017FY2024
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
1,939
2,005
2,615
-3.3%
Capital expenditure
965
1,390
1,604
-30.6%
Free cash flow
974
615
1,011
+58.4%
Free cash flow margin
7.4%
4.9%
7.1%
Cash from investing
-744
-1,000
-1,355
Cash from financing
-1,164
-883
-1,649
Depreciation and amortisation
1,350
1,369
1,452
-1.4%
Share-based compensation
273
218
175
+25.2%
Buybacks
165
n/a
221
Dividends paid
986
989
932
-0.3%
Dividend per share
$1.12
$1.12
$1.08
0.0%
Diluted shares, weighted
869m
859m
857m
+1.2%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
10,686
11,551
12,008
-7.5%
Non-controlling interest
384
317
267
+21.1%
Debt
7,211
7,526
6,911
-4.2%
Operating lease liabilities
785
846
795
-7.2%
Finance lease liabilities
144
n/a
n/a
Other liabilities
8,525
8,260
9,518
+3.2%
Total liabilities and equity
27,735
28,500
29,499
-2.7%
Fixed assets
13,359
14,630
15,371
-8.7%
Goodwill
2,363
2,380
2,394
-0.7%
Intangible assets
752
905
1,029
-16.9%
Cash and equivalents
1,768
1,779
1,671
-0.6%
Receivables
2,053
1,572
1,721
+30.6%
Inventory
2,724
2,666
2,904
+2.2%
Other assets
4,716
4,568
4,409
+3.2%
Total assets
27,735
28,500
29,499
-2.7%
10-K for the year ended 31 December 2024, filed 13 February 2025: the filing.