OverviewSuggest Edit

Corning is a company providing specialty glasses, ceramics, and optical physics products. It operates through 5 segments: Display Technologies, Optical Communications, Environmental Technologies, Specialty Materials, and Life Sciences. The Display Technologies segment glass substrates for high-performance displays, including organic light-emitting diode (“OLEDs”) and liquid crystal displays (“LCDs”) that are used primarily in televisions, notebook computers, and flat panel desktop monitors. The Optical Communications segment provides optical fiber, cable, and connectivity solutions. The Environmental Technologies segment manufactures cover glass, semiconductor optics, as well as glass lens and window components and assemblies. The Specialty Materials segment manufactures ceramic substrates and filter products for emissions control in mobile applications. The Life Sciences segment includes consumables, such as plastic vessels, specialty surfaces, cell culture media, and serum, as well as general labware and equipment.
TypePublic
Founded1851
HQCorning, US
Websitecorning.com
Employee Ratings3.6
Culture scoreC+

Latest Updates

Employees (est.) (Dec 2019)49,500(-3%)
Job Openings272
Revenue (FY, 2019)$11.5 B(+2%)
Share Price (May 2020)$21.4

Key People/Management at Corning

Wendell P. Weeks

Wendell P. Weeks

Chairman & Chief Executive Officer
John Bayne

John Bayne

Senior Vice President & General Manager, Mobile Consumer Electronics
Lawrence D. McRae

Lawrence D. McRae

Vice Chairman & Corporate Development Officer
Jeffrey Evenson

Jeffrey Evenson

Executive Vice President & Chief Strategy Officer
Stefan Becker

Stefan Becker

Senior Vice President & Operations Controller
Michael A. Bell

Michael A. Bell

Senior Vice President & General Manager, Optical Communications
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Corning Office Locations

Corning has offices in Corning, New York, Vineland, Clayton and in 27 other locations
Corning, US (HQ)
1 Riverfront Plaza
New York, US
767 5th Ave
Vineland, US
563 Crystal Ave
Clayton, AU
211 Wellington Rd
Lasne, BE
Lasne Business Park, B, Chaussée de Louvain 431
São Paulo, BR
R. Dr. Renato Paes de Barros, 714 - Itaim Bibi
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Corning Financials and Metrics

Corning Revenue

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Corning's revenue was reported to be $11.50 b in FY, 2019
USD

Revenue (Q1, 2020)

2.4b

Gross profit (Q1, 2020)

561.0m

Gross profit margin (Q1, 2020), %

23.5%

Net income (Q1, 2020)

(96.0m)

EBIT (Q1, 2020)

(121.0m)

Market capitalization (22-May-2020)

16.2b

Closing stock price (22-May-2020)

21.4

Cash (31-Mar-2020)

2.0b

EV

22.0b
Corning's current market capitalization is $16.2 b.
Annual
USDFY, 2016FY, 2017FY, 2018FY, 2019

Revenue

9.4b10.1b11.3b11.5b

Revenue growth, %

3%8%12%

Cost of goods sold

5.6b6.1b6.8b7.5b

Gross profit

3.7b4.0b4.5b4.0b
Quarterly
USDQ1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020

Revenue

2.4b2.5b2.6b2.5b2.7b3.0b2.8b2.9b2.9b2.4b

Cost of goods sold

1.4b1.5b1.6b1.5b1.7b1.8b1.7b1.9b1.9b1.8b

Gross profit

957.0m985.0m1.1b955.0m1.1b1.2b1.1b1.1b1.0b561.0m

Gross profit Margin, %

40%39%41%38%39%41%39%36%35%23%
Annual
USDFY, 2016FY, 2017FY, 2018FY, 2019

Cash

5.3b4.3b2.4b2.4b

Accounts Receivable

1.5b1.8b1.9b1.8b

Prepaid Expenses

873.0m

Inventories

1.5b1.7b2.0b2.3b
Quarterly
USDQ1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020

Cash

4.8b4.2b3.9b3.1b2.0b1.9b1.5b1.2b971.0m2.0b

Accounts Receivable

1.6b1.6b1.7b1.7b1.8b2.0b2.0b2.1b2.0b1.7b

Inventories

1.5b1.6b1.7b1.8b1.9b1.9b2.2b2.3b2.3b2.3b

Current Assets

8.7b8.4b8.3b7.7b6.5b6.6b6.3b6.3b6.2b6.9b
Annual
USDFY, 2016FY, 2017FY, 2018FY, 2019

Net Income

3.7b(497.0m)1.1b960.0m

Depreciation and Amortization

1.2b1.2b1.3b1.5b

Inventories

(68.0m)(170.0m)(346.0m)(298.0m)

Accounts Payable

243.0m169.0m358.0m36.0m
USDY, 2020

EV/EBIT

-182.1 x

EV/CFO

88.8 x

EV/FCF

-74.2 x

Financial Leverage

2.3 x
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Corning Operating Metrics

FY, 2016FY, 2017FY, 2018

Manufacturing Facilities

98 105 108

Manufacturing Space, sq. ft.

31.60 m32.60 m35.50 m

Patents Issued

9.66 k10.90 k11.60 k

Patents (US)

3.84 k4.56 k4.40 k
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Corning Acquisitions / Subsidiaries

Company NameDateDeal Size
3M CommunicationDecember 11, 2017$900 m
SpiderCloud WirelessJuly 19, 2017
STRAN TechnologiesDecember 20, 2016
Alliance Fiber Optic Products, Inc.April 07, 2016$305 m
Gerresheimer AGNovember 02, 2015€196 m
iBwave Solutions Inc.May 31, 2015$2.50 b
Discovery Labware, Inc.April 10, 2012$730 m
MobileAccess NetworksJanuary 31, 2011$200 m
Axygen BioScience, Inc.September 17, 2009
Photonics Technology Research CenterNovember 14, 2000
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Corning Revenue Breakdown

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Corning revenue breakdown by business segment: 28.7% from Display Technologies, 36.8% from Optical Communications, 11.3% from Environmental Technologies, 13.0% from Specialty Materials, 8.3% from Life Sciences and 1.9% from Other

Corning revenue breakdown by geographic segment: 50.4% from Asia Pacific, 34.4% from North America, 11.9% from Europe and 3.3% from Other

Corning Online and Social Media Presence

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Corning Company Culture

  • Overall Culture

    C+

    65/100

  • CEO Rating

    D

    58/100

  • Compensation

    A-

    75/100

Learn more on Comparably

Corning News and Updates

Corning to cut executive and other worker pay during pandemic in return for equity

Corning Inc. said Wednesday its chief executive will take a 40% cut in base salary as the specialty glass company moves to combat the effect of the coronavirus pandemic. The company's named executive officers salaries will be reduced by 30%, while the cash compensation of its non-employee directors…

Corning and Qualcomm's indoor 5G project could cement connectivity providers as core enterprise partners

In an announcement initially scheduled for the canceled Mobile World Congress, Corning and Qualcomm revealed that they are developing a system for network operators and enterprises to offer in-building 5G coverage. Getting 5G signals indoors — especially of the fastest millimeter wave (mmWave) vari…

Corning plans indoor 5G mmWave systems for malls, offices, and schools

As high-speed 5G networks are expected to supplant or augment indoor Wi-Fi at businesses and schools, Corning is working on small cell mmWave hardware.

Corning Reports Fourth-Quarter and Full-Year 2019 Financial Results and Affirms Outlook for Long-Term Growth

CORNING, N.Y. , Jan. 29, 2020 (GLOBE NEWSWIRE) -- Corning Incorporated (NYSE: GLW) today announced results for fourth-quarter and full-year 2019.

Assemblers and Machinists - Corning is Hiring in Glendale!

We're proud to announce that Corning is expanding operations at our Glendale, AZ plant. We're hiring right now for entry-level assemblers and two grades of experienced machinists. This is your opportunity to join one of the world's leading innovators in materials science.

Microreactor Technology Market Demand & Competitive Analysis by 2025| Corning, Chemtrix, AM Technology

The Microreactor Technology market was valued at xx Million US$ in 2020 and is projected to reach xx Million US$ by 2026, at a CAGR of xx% during the forecast period. In this study, 2018 has been considered as the base year and 2020 to 2026 as the forecast period to estimate the market size for Micr…
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Corning Frequently Asked Questions

  • When was Corning founded?

    Corning was founded in 1851.

  • Who are Corning key executives?

    Corning's key executives are Wendell P. Weeks, John Bayne and Lawrence D. McRae.

  • How many employees does Corning have?

    Corning has 49,500 employees.

  • What is Corning revenue?

    Latest Corning annual revenue is $11.5 b.

  • What is Corning revenue per employee?

    Latest Corning revenue per employee is $232.4 k.

  • Who are Corning competitors?

    Competitors of Corning include AGC, Danaher and Heraeus.

  • Where is Corning headquarters?

    Corning headquarters is located at 1 Riverfront Plaza, Corning.

  • Where are Corning offices?

    Corning has offices in Corning, New York, Vineland, Clayton and in 27 other locations.

  • How many offices does Corning have?

    Corning has 31 offices.