Corning (GLW) Q1 Earnings Preview: What You Should Know Beyond the Headline Estimates

Wall Street analysts forecast that Corning (GLW) will report quarterly earnings of $0.36 per share in its upcoming release, pointing to a year-over-year decline of 12.2%. It is anticipated that revenues will amount to $3.12 billion, exhibiting a decline of 7.3% compared to the year-ago quarter.

The consensus EPS estimate for the quarter has undergone an upward revision of 1.5% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.

Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.

While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.

That said, let's delve into the average estimates of some Corning metrics that Wall Street analysts commonly model and monitor.

Analysts predict that the 'Net Sales- Display Technologies' will reach $823.83 million. The estimate points to a change of +8% from the year-ago quarter.

The consensus estimate for 'Net Sales- Optical Communications' stands at $880.32 million. The estimate indicates a change of -21.8% from the prior-year quarter.

The combined assessment of analysts suggests that 'Net Sales- Hemlock and Emerging Growth Businesses' will likely reach $337.98 million. The estimate indicates a change of -12.4% from the prior-year quarter.

The collective assessment of analysts points to an estimated 'Net Sales- Specialty Materials' of $408.72 million. The estimate indicates a change of +0.7% from the prior-year quarter.

According to the collective judgment of analysts, 'Net Sales- Life Sciences' should come in at $242.92 million. The estimate points to a change of -5.1% from the year-ago quarter.

The average prediction of analysts places 'Net Sales- Environmental Technologies' at $425.87 million. The estimate suggests a change of -1.2% year over year.

View all Key Company Metrics for Corning here>>>

Over the past month, shares of Corning have returned -5% versus the Zacks S&P 500 composite's -2% change. Currently, GLW carries a Zacks Rank #2 (Buy), suggesting that it may outperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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