Stock Analysis on Net
Stock Analysis on Net

Corning Inc. (NYSE:GLW)

This company has been moved to the archive! The financial data has not been updated since May 2, 2024.

Common-Size Income Statement
Quarterly Data

Corning Inc., common-size consolidated income statement (quarterly data)

Microsoft Excel
3 months ended: Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Net sales 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00
Cost of sales -66.62 -69.57 -68.36 -68.76 -68.44 -73.14 -69.55 -65.53 -65.14 -65.42 -63.46 -62.44 -64.86 -63.79 -66.64 -70.48 -76.54 -69.68 -65.34 -63.78 -60.92
Gross margin 33.38% 30.43% 31.64% 31.24% 31.56% 26.86% 30.45% 34.47% 34.86% 34.58% 36.54% 37.56% 35.14% 36.21% 33.36% 29.52% 23.46% 30.32% 34.66% 36.22% 39.08%
Selling, general and administrative expenses -15.16 -17.17 -14.75 -13.57 -13.25 -15.18 -13.22 -13.44 -11.79 -12.95 -13.44 -13.28 -12.16 -14.06 -15.99 -15.66 -16.52 -14.24 -12.58 -14.08 -14.26
Research, development and engineering expenses -8.67 -9.65 -8.51 -8.11 -7.99 -8.25 -7.97 -6.64 -6.74 -7.62 -6.94 -6.91 -6.75 -6.93 -7.70 -16.79 -10.92 -9.87 -8.69 -8.47 -8.85
Amortization of purchased intangibles -1.01 -1.00 -0.95 -0.96 -0.98 -0.91 -0.89 -0.83 -0.84 -0.87 -0.89 -0.94 -0.97 -1.01 -1.10 -1.09 -1.09 -0.99 -0.95 -0.95 -1.03
Operating expenses -24.84% -27.82% -24.20% -22.63% -22.22% -24.34% -22.08% -20.91% -19.38% -21.44% -21.27% -21.14% -19.88% -22.00% -24.79% -33.54% -28.52% -25.10% -22.22% -23.50% -24.15%
Operating income (loss) 8.54% 2.61% 7.44% 8.60% 9.35% 2.52% 8.37% 13.55% 15.49% 13.14% 15.27% 16.42% 15.26% 14.21% 8.56% -4.02% -5.06% 5.22% 12.44% 12.72% 14.94%
Interest income 0.40 0.43 0.32 0.25 0.22 0.18 0.09 0.08 0.08 0.08 0.08 0.06 0.09 0.09 0.10 0.12 0.25 0.18 0.14 0.17 0.25
Interest expense -2.79 -3.01 -2.58 -2.50 -2.39 -2.23 -2.09 -1.99 -1.93 -1.99 -1.99 -2.23 -2.34 -2.24 -2.33 -2.62 -2.68 -2.13 -1.87 -1.84 -1.85
Translated earnings contract gain (loss), net 1.31 1.10 0.63 3.58 -0.25 2.76 -1.95 5.42 3.51 2.50 -0.36 0.09 8.27 -1.28 -3.33 1.44 2.84 3.02 2.93 -3.64 6.54
Transaction-related gain, net 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 16.59 0.00 0.00 0.00 0.00 0.00 0.00
Other income (expense), net 2.49 -2.40 1.04 2.68 0.25 -3.11 3.04 3.68 4.13 2.18 0.64 0.54 3.86 -0.93 -4.43 3.40 0.13 -5.82 0.41 0.37 0.78
Income (loss) before income taxes 9.95% -1.27% 6.84% 12.61% 7.17% 0.12% 7.45% 20.75% 21.28% 15.91% 13.64% 14.88% 25.14% 9.85% 15.16% -1.68% -4.52% 0.46% 14.04% 7.79% 20.66%
(Provision) benefit for income taxes -2.39 0.33 -1.10 -3.27 -1.16 -0.91 -0.97 -4.59 -4.89 -2.42 -3.02 -1.91 -6.87 -2.33 -0.77 -0.86 0.50 0.53 -2.42 -4.22 -2.70
Net income (loss) 7.56% -0.94% 5.74% 9.34% 6.01% -0.79% 6.48% 16.15% 16.39% 13.49% 10.62% 12.97% 18.27% 7.52% 14.40% -2.54% -4.02% 0.99% 11.62% 3.57% 17.96%
Net income attributable to non-controlling interest -0.54 -0.40 -0.57 -0.68 -0.47 -0.26 -0.52 -0.58 -0.60 -0.24 -0.36 -0.14 -0.06 0.00 -0.17 -0.23 0.00 0.14 -0.14 -0.44 -0.21
Net income (loss) attributable to Corning Incorporated 7.03% -1.34% 5.17% 8.66% 5.54% -1.06% 5.96% 15.57% 15.79% 13.25% 10.26% 12.82% 18.21% 7.52% 14.23% -2.77% -4.02% 1.14% 11.49% 3.13% 17.75%
Series A convertible preferred stock dividend and excess consideration paid for redemption of preferred stock 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -22.94 -0.73 -0.75 -0.80 -0.98 -1.00 -0.92 -0.82 -0.82 -0.85
Net income (loss) available to common shareholders 7.03% -1.34% 5.17% 8.66% 5.54% -1.06% 5.96% 15.57% 15.79% 13.25% 10.26% -10.11% 17.48% 6.78% 13.43% -3.75% -5.02% 0.21% 10.67% 2.31% 16.89%

Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

Income statement item Description The company
Operating income (loss) The net result for the period of deducting operating expenses from operating revenues. Corning Inc. operating income (loss) as a percentage of net sales decreased from Q3 2023 to Q4 2023 but then increased from Q4 2023 to Q1 2024 exceeding Q3 2023 level.
Income (loss) before income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Corning Inc. income (loss) before income taxes as a percentage of net sales decreased from Q3 2023 to Q4 2023 but then increased from Q4 2023 to Q1 2024 exceeding Q3 2023 level.
Net income (loss) attributable to Corning Incorporated The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Corning Inc. net income (loss) attributable to Corning Incorporated as a percentage of net sales decreased from Q3 2023 to Q4 2023 but then increased from Q4 2023 to Q1 2024 exceeding Q3 2023 level.