Corning (GLW) Q1 FY2026 earnings: revenue $4.1 billion, up 20.0% on the year

Corning Inc. (GLW) reported revenue of $4.1 billion for Q1 FY2026, the quarter ended 31 March 2026, up 20.0% on the same quarter a year earlier. Net income was $371 million, up 136.3% on the year, and diluted earnings per share $0.43. The figures are the company's own, from the 10-Q it filed with the SEC on 1 May 2026.

Revenue

$4.1 billion

+20.0% on the year · -1.7% on the quarter

Q2 FY2024Q1 FY2026

Operating margin

15.4%

12.9% a year earlier

Q2 FY2024Q1 FY2026

Net income

$371 million

+136.3% on the year · -31.3% on the quarter

Q2 FY2024Q1 FY2026

Diluted EPS

$0.43

+138.9% on the year · -30.6% on the quarter

Q2 FY2024Q1 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 3 new.

Core sales rose 18% year over year: Core sales were $4.35 billion, up 18% year over year, and down 2% from the fourth quarter of 2025. GAAP sales were $4.14 billion, up 20%.
Core EPS rose 30% year over year: Core EPS was $0.70, up 30% year over year and down 3% from $0.72 in the fourth quarter. GAAP EPS was $0.43, up 139%.
Optical Communications sales up 36%: Optical Communications net sales were $1,846 million, up 36% year over year and up 9% from the fourth quarter. Net income was $387 million, up 93%.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Revenue	4,144	4,215	3,452	-1.7%	+20.0%
Cost of revenue	2,616	2,720	2,238	-3.8%	+16.9%
Gross profit	1,528	1,495	1,214	+2.2%	+25.9%
Gross margin	36.9%	35.5%	35.2%
Selling, general and administrative	588	512	471	+14.8%	+24.8%
Operating income	639	672	445	-4.9%	+43.6%
Operating margin	15.4%	15.9%	12.9%
Interest expense	92.0	93.0	82.0	-1.1%	+12.2%
Pre-tax income	529	678	240	-22.0%	+120.4%
Income tax	121	91.0	55.0	+33.0%	+120.0%
Effective tax rate	22.9%	13.4%	22.9%
Net income	371	540	157	-31.3%	+136.3%
Net margin	9.0%	12.8%	4.5%
Diluted EPS	$0.43	$0.62	$0.18	-30.6%	+138.9%

$ million except per share.

Fourth quarters are the year less the first three quarters. Free 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	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Operating cash flow	362	1,052	151	-65.6%	+139.7%
Capital expenditure	332	432	208	-23.1%	+59.6%
Free cash flow	30.0	620	-57.0	-95.2%
Free cash flow margin	0.7%	14.7%	-1.7%
Cash from investing	-203	-478	-165
Cash from financing	59.0	-652	-403
Depreciation and amortisation	357	351	319	+1.7%	+11.9%
Share-based compensation	115	70.0	54.0	+64.3%	+113.0%
Buybacks	n/a	5.0	100
Dividends paid	244	255	242	-4.3%	+0.8%
Dividend per share	$0.28	n/a	$0.28		0.0%
Diluted shares, weighted	871m	871m	866m	0.0%	+0.6%
Shares outstanding at period end	861m	858m	856m	+0.3%	+0.5%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Shareholders' equity	11,812	11,807	10,716	+0.0%	+10.2%
Non-controlling interest	537	500	412	+7.4%	+30.3%
Debt	8,973	8,434	7,237	+6.4%	+24.0%
Operating lease liabilities	852	846	826	+0.7%	+3.1%
Finance lease liabilities	149	1,148	n/a	-87.0%
Other liabilities	8,930	8,241	8,203	+8.4%	+8.9%
Total liabilities and equity	31,253	30,976	27,394	+0.9%	+14.1%
Fixed assets	14,785	14,825	13,360	-0.3%	+10.7%
Goodwill	2,479	2,489	2,371	-0.4%	+4.6%
Intangible assets	632	657	732	-3.8%	-13.7%
Cash and equivalents	1,755	1,526	1,359	+15.0%	+29.1%
Receivables	2,676	2,779	2,045	-3.7%	+30.9%
Inventory	3,279	3,077	2,896	+6.6%	+13.2%
Other assets	5,647	5,623	4,631	+0.4%	+21.9%
Total assets	31,253	30,976	27,394	+0.9%	+14.1%

Questions

What was Corning's revenue in Q1 FY2026?

Corning (GLW) reported revenue of $4.1 billion for Q1 FY2026, the quarter ended 31 March 2026, up 20.0% on the same quarter a year earlier.

How much did Corning earn in Q1 FY2026?

Net income for Q1 FY2026 was $371 million, up 136.3% on the year, and diluted earnings per share $0.43.

When did Corning report Q1 FY2026 results?

Corning filed its 10-Q for the quarter ended 31 March 2026 with the SEC on 1 May 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022 †	Q2 FY2022	Q3 FY2022	Q4 FY2022 * †	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	3,676	3,680	3,615	3,488	3,406	3,178	3,243	3,173	2,994	2,975	3,251	3,391	3,501	3,452	3,862	4,100	4,215	4,144	4,505	4,855
Cost of revenue	2,405	2,397	2,369	2,426	2,491	2,175	2,230	2,169	2,083	1,982	2,302	2,254	2,304	2,238	2,470	2,580	2,720	2,616	2,877	3,045
Gross profit	1,271	1,283	1,246	1,062	915	1,003	1,013	1,004	911	993	949	1,137	1,197	1,214	1,392	1,520	1,495	1,528	1,628	1,810
Gross margin	35%	35%	34%	30%	27%	32%	31%	32%	30%	33%	29%	34%	34%	35%	36%	37%	35%	37%	36%	37%
SG&A	476	434	486	461	517	421	440	468	514	451	471	510	499	471	515	624	512	588	608	563
Operating income	483	570	490	292	86.0	297	279	236	78.0	254	186	302	393	445	573	589	672	639	698	911
Operating margin	13%	15%	14%	8%	3%	9%	9%	7%	3%	9%	6%	9%	11%	13%	15%	14%	16%	15%	15%	19%
Interest expense	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	83.0	84.0	83.0	79.0	82.0	83.0	78.0	93.0	92.0	94.0	87.0
Pre-tax income	576	783	750	260	4.0	228	409	217	-38.0	296	172	-92.0	437	240	584	550	678	529	649	968
Tax rate	15%	23%	22%	13%	775%	16%	26%	16%	n/a	24%	29%	n/a	22%	23%	14%	15%	13%	23%	6%	23%
Net income	487	581	563	208	-36.0	176	281	164	-40.0	209	104	-117	310	157	469	430	540	371	559	680
Net margin	13%	16%	16%	6%	-1%	6%	9%	5%	-1%	7%	3%	-3%	9%	5%	12%	10%	13%	9%	12%	14%
Diluted EPS	$0.60	$0.68	$0.66	$0.24	-$0.04	$0.20	$0.33	$0.19	-$0.05	$0.24	$0.12	-$0.14	$0.36	$0.18	$0.54	$0.50	$0.62	$0.43	$0.64	$0.78
Operating cash flow	1,023	534	758	706	617	-49.0	619	722	713	96.0	521	699	623	151	708	784	1,052	362	1,717	1,061
Capital expenditure	623	383	353	465	403	382	388	341	279	252	242	217	254	208	308	334	432	332	422	545
Free cash flow	400	151	405	241	214	-431	231	381	434	-156	279	482	369	-57.0	400	450	620	30.0	1,295	516
Buybacks	n/a	149	52.0	20.0	0.0	n/a	n/a	n/a	n/a	n/a	n/a	30.0	n/a	100	33.0	25.0	5.0	n/a	n/a	n/a
Dividends paid	212	228	234	234	236	239	256	246	248	243	252	242	249	242	261	241	255	244	251	262
Shares outstanding	846m	845m	845m	846m	847m	850m	853m	853m	853m	857m	856m	856m	857m	856m	857m	857m	858m	861m	861m	861m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS 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 the share count are as they are. Free 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. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 31 March 2026, filed 1 May 2026: the filing.