Corning Inc (N:GLW)
Business Focus: Display Screens
| Sector: Technology | Industry: Electronic Equipment & Parts |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | One Riverfront Plaza CORNING NY 14831-0001 |
| Tel: | 1-607-9746716 |
| Website: | https://www.corning.com |
| IR: | See website |
| Key People | ||
| Wendell P. Weeks Chairman of the Board, Chief Executive Officer | John Z. Zhang Senior Vice President, General Manager, Display and Corning Asia | Eric S. Musser President, Chief Operating Officer |
| Edward A. Schlesinger Chief Financial Officer, Executive Vice President | Lewis A. Steverson Executive Vice President, Chief Legal and Administrative Officer | Martin J. Curran Executive Vice President - Innovation Officer |
| Jeffrey W. Evenson Executive Vice President, Chief Strategy Officer | Jaymin Amin Senior Vice President, Chief Technology Officer | Soumya Seetharam Senior Vice President, Chief Digital and Information Officer | Avery H. Nelson Senior Vice President and General Manager, Automotive and Solar |
| Business Overview |
| Corning Incorporated is a materials science technology and innovation company. The Company operates through five segments: Optical Communications, Display Technologies, Specialty Materials, Environmental Technologies and Life Sciences. The Optical Communications segment manufactures carrier network and enterprise network components for the telecommunications industry. Display Technologies segment manufactures glass substrates for flat panel displays, including liquid crystal displays and organic light-emitting diodes. Its Specialty Materials segment is engaged in manufacturing products that provide material formulations for glass, glass ceramics and fluoride crystals to meet demand for customer needs. Its Environmental Technologies segment manufactures ceramic substrates and filters for emission control systems in mobile applications. Its Life Sciences segment manufactures labware, equipment, media, serum and reagents enabling workflow solutions for drug discovery and bioproduction. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, Corning Inc revenues decreased 11% to $12.59B. Net income decreased 56% to $581M. Revenues reflect Optical Communications segment decrease of 20% to $4.01B, Life Sciences segment decrease of 22% to $959M, United States segment decrease of 14% to $4.44B, Canada segment decrease of 37% to $317M. Net income also reflects Other expense, net decrease of 80% to $56M (income). |
| Employees: | 49,800 as of Dec 31, 2023 |
| Reporting Currency: | U.S. Dollars |
| Enterprise value: | $32,716M as of Dec 31, 2023 |
| Annual revenue (TTM): | $12,588M as of Dec 31, 2023 |
| EBITDA (TTM): | $2,802M as of Dec 31, 2023 |
| Net annual income (TTM): | $581.00M as of Dec 31, 2023 |
| Free cash flow (TTM): | -$374.00M as of Dec 31, 2023 |
| Net Debt Last Fiscal Year: | $5,747M as of Dec 31, 2023 |
| Shares outstanding: | 855,352,470 as of Mar 5, 2024 |
| Index Membership: | S&P 500 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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