Corning Incorporated Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2022
January 31, 2023 at 07:14 am EST
Share
Corning Incorporated reported earnings results for the fourth quarter and full year ended December 31, 2022. For the fourth quarter, the company reported sales was USD 3,406 million compared to USD 3,676 million a year ago. Net loss was USD 36 million compared to net income of USD 487 million a year ago. Basic loss per share from continuing operations was USD 0.04 compared to basic earnings per share from continuing operations of USD 0.57 a year ago. Diluted loss per share from continuing operations was USD 0.04 compared to diluted earnings per share from continuing operations of USD 0.56 a year ago.
For the full year, sales was USD 14,189 million compared to USD 14,082 million a year ago. Net income was USD 1,316 million compared to USD 1,906 million a year ago. Basic earnings per share from continuing operations was USD 1.56 compared to USD 1.3 a year ago. Diluted earnings per share from continuing operations was USD 1.54 compared to USD 1.28 a year ago.
Corning Incorporated is the world leader of the production and the marketing of substrata of glass and ceramic of specialty. Net sales break down by market as follows:
- telecommunications (29.6%): products of fiber optical, cables, etc. for networks of communication;
- electronic large public (26%): glass substrata intended for screens of televisions sets LCD, PC and laptops;
- environment (13%): substrata of ceramic and filters intended for systems fight against vehicles emissions;
- life science (7.1%): in particular optical biosensors for pharmaceutical research;
- other (24.3%): solutions based on plastic and glass of specialty intended notably to the sectors of semiconductors, aerospace, defense, astronomy and metrology.
Net sales are distributed geographically as follows: the United States (32.7%), North America (3%), Asia/Pacific (51.5%), Europe (11.3%) and other (1.5%).
CORNING INCORPORATED 
