Corning Incorporated (GLW)

Corning Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	12,611	12,588	14,189	14,082	11,303	11,503
Revenue Growth (YoY)	-2.99%	-11.28%	0.76%	24.59%	-1.74%	1.89%
Cost of Revenue	8,366	8,374	9,346	8,939	7,329	7,080
Gross Profit	4,245	4,214	4,843	5,143	3,974	4,423
Selling, General & Admin	1,820	1,738	1,784	1,727	1,601	1,649
Research & Development	1,057	1,030	1,031	994	907	1,001
Operating Expenses	2,998	2,890	2,938	2,850	2,629	2,763
Operating Income	1,247	1,324	1,905	2,293	1,345	1,660
Interest Expense	-340	-329	-292	-300	-276	-221
Interest & Investment Income	47	38	15	11	15	21
Earnings From Equity Investments	-	-	-	-	-	17
Currency Exchange Gain (Loss)	-46	184	394	391	-145	269
Other Non Operating Income (Expenses)	-126	71	189	172	33	-84
EBT Excluding Unusual Items	782	1,288	2,211	2,567	972	1,662
Merger & Restructuring Charges	-471	-471	-414	-110	-610	-439
Gain (Loss) on Sale of Investments	-	-	-	-	498	-
Asset Writedown	-	-	-	-	-217	-
Other Unusual Items	27	-1	-	-31	-9	-7
Pretax Income	338	816	1,797	2,426	634	1,216
Income Tax Expense	114	168	411	491	111	256
Earnings From Continuing Operations	224	648	1,386	1,935	523	960
Minority Interest in Earnings	-68	-67	-70	-29	-11	-
Net Income	156	581	1,316	1,906	512	960
Preferred Dividends & Other Adjustments	-	-	-	827	98	98
Net Income to Common	156	581	1,316	1,079	414	862
Net Income Growth	-73.33%	-55.85%	-30.95%	272.27%	-46.67%	-9.94%
Shares Outstanding (Basic)	852	848	843	828	761	776
Shares Outstanding (Diluted)	867	859	857	844	772	899
Shares Change (YoY)	1.02%	0.23%	1.54%	9.33%	-14.13%	-4.46%
EPS (Basic)	0.18	0.69	1.56	1.30	0.54	1.11
EPS (Diluted)	0.18	0.68	1.54	1.28	0.54	1.07
EPS Growth	-73.08%	-55.84%	20.31%	137.04%	-49.43%	-5.74%
Free Cash Flow	1,039	615	1,011	1,775	803	53
Free Cash Flow Per Share	1.20	0.72	1.18	2.10	1.04	0.06
Dividend Per Share	1.120	1.120	1.080	0.960	0.880	0.800
Dividend Growth	0.90%	3.70%	12.50%	9.09%	10.00%	11.11%
Gross Margin	33.66%	33.48%	34.13%	36.52%	35.16%	38.45%
Operating Margin	9.89%	10.52%	13.43%	16.28%	11.90%	14.43%
Profit Margin	1.24%	4.62%	9.27%	7.66%	3.66%	7.49%
Free Cash Flow Margin	8.24%	4.89%	7.13%	12.60%	7.10%	0.46%
EBITDA	2,607	2,693	3,357	3,774	2,865	3,163
EBITDA Margin	20.67%	21.39%	23.66%	26.80%	25.35%	27.50%
D&A For EBITDA	1,360	1,369	1,452	1,481	1,520	1,503
EBIT	1,247	1,324	1,905	2,293	1,345	1,660
EBIT Margin	9.89%	10.52%	13.43%	16.28%	11.90%	14.43%
Effective Tax Rate	33.73%	20.59%	22.87%	20.24%	17.51%	21.05%

Source: S&P Capital IQ. Standard template. Financial Sources.