Corning Full-Year Report 2023

Wendell P. Weeks, chairman and chief executive officer, said, “Overall, our results in the quarter – and throughout 2023 – demonstrate that we continue to make solid progress advancing our market leadership, strengthening our profitability, and improving our cash-flow generation even in the lower-demand environment we’ve experienced.”

Highlights

• GAAP sales were $12.6 billion, down 11%. Core sales were $13.6 billion, down 8%.
• GAAP EPS was $0.68, and core EPS was $1.70. The difference between GAAP and core EPS primarily reflected constant currency adjustments, translated earnings contract gains, and translation gains on Japanese-yen-denominated debt, as well as restructuring and asset write-off charges.
• GAAP operating cash flow was $2 billion, and adjusted free cash flow was $880 million.