glw-20260331

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q


☒			QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2026


☐			TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ____________________________ To ____________________________

Commission file number: 1-3247

CORNING INCORPORATED

(Exact name of registrant as specified in its charter)

New York

16-0393470

(State or other jurisdiction of incorporation or organization)

(I.R.S. Employer Identification No.)

One Riverfront Plaza, Corning, New York

14831

(Address of principal executive offices)

(Zip Code)

607-974-9000

(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, $0.50 par value per share

GLW

New York Stock Exchange

3.875% Notes due 2026

GLW26

New York Stock Exchange

4.125% Notes due 2031

GLW31

New York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days.

Yes

☒

☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

Yes

☒

☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large Accelerated Filer

☒

Accelerated Filer

☐

Non-Accelerated Filer

☐

Smaller Reporting Company

☐

Emerging Growth Company

☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards pursuant to Section 13(a) of the Exchange Act. ☐

If securities are registered pursuant to Section 12(b) of the Exchange Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements. ☐

Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes

☐

☒

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.

Class

Outstanding as of April 24, 2026

Corning’s Common Stock, $0.50 par value per share

860,637,825 shares

Table of Contents

INDEX


PART I – FINANCIAL INFORMATION
			Page
Item 1. Financial Statements

Consolidated Statements of Income			3

Consolidated Statements of Comprehensive Income			4

Consolidated Balance Sheets			5

Consolidated Statements of Cash Flows			6

Consolidated Statements of Changes in Shareholders’ Equity			7

Notes to Consolidated Financial Statements			8

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations			21

Item 3. Quantitative and Qualitative Disclosures About Market Risk			38

Item 4. Controls and Procedures			38

PART II – OTHER INFORMATION

Item 1. Legal Proceedings			39

Item 1A. Risk Factors			39

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds			39

Item 5. Other Information			39

Item 6. Exhibits			40

Signatures			41

Table of Contents


Consolidated Statements of Income			Corning Incorporated and Subsidiary Companies
(Unaudited; in millions, except per share amounts)


	Three months ended March 31,
	2026		2025
Net sales	$	4,144	$	3,452
Cost of sales	2,616		2,238

Gross margin	1,528		1,214

Operating expenses:
Selling, general and administrative expenses	588		471
Research, development and engineering expenses	278		270
Amortization of purchased intangibles	23		28

Operating income	639		445

Interest income	9		12
Interest expense	(92)		(82)
Translated earnings contract loss, net (Note 9)	(16)		(101)
Other expense, net	(11)		(34)

Income before income taxes	529		240
Provision for income taxes (Note 11)	(121)		(55)

Net income	408		185

Net income attributable to non-controlling interest	(37)		(28)

Net income attributable to Corning Incorporated	$	371	$	157

Earnings per common share available to common shareholders:
Basic (Note 13)	$	0.43	$	0.18
Diluted (Note 13)	$	0.43	$	0.18

The accompanying notes are an integral part of these consolidated financial statements.

Table of Contents


Consolidated Statements of Comprehensive Income			Corning Incorporated and Subsidiary Companies
(Unaudited; in millions)


	Three months ended March 31,
	2026		2025
Net income	$	408	$	185

Foreign currency translation adjustments and other (Note 12)	(171)		161
Unamortized losses and prior service costs for postretirement benefit plans	(4)		(5)
Realized and unrealized (losses) gains on derivatives	(11)		27
Other comprehensive (loss) income, net of tax	(186)		183

Comprehensive income	222		368

Comprehensive income attributable to non-controlling interest	(37)		(28)

Comprehensive income attributable to Corning Incorporated	$	185	$	340

The accompanying notes are an integral part of these consolidated financial statements.

Table of Contents


Consolidated Balance Sheets			Corning Incorporated and Subsidiary Companies
(Unaudited; in millions, except share and per share amounts)


	March 31, 2026		December 31, 2025
Assets

Current assets:
Cash and cash equivalents	$	1,755	$	1,526
Trade accounts receivable, net of doubtful accounts - $27 and $27	2,676		2,779
Inventories (Note 3)	3,279		3,077
Other current assets (Note 5)	1,816		1,554

SEC Form 10-Q filed by Corning Incorporated