康宁报告s Third-Quarter 2021 Results As Sales Reach All-Time High

核心销售和盈利分别增长了21％和30％，同比增长了21％和30％
自由现金流量为5亿美元

Announcements with AT&T, Jeep, PPG, and Samsung highlight
康宁对重大行业进步的贡献

公司on track to reach $14 billion in sales and over $2 in EPS for 2021

销售和eps增长与强大的现金一代预计将在2022年继续

康宁公司合并（纽约证券交易所代码：GLW）今天宣布第三季度截至9月30日的第三季度的结果，并为第四季度提供了前景。

• GAAP and core sales were $3.6 billion; core sales grew 4% sequentially and 21% year over year, driven by strong growth in Optical Communications; GAAP net income was $371 million, and core net income was $485 million.
• GAAP EPS为0.43美元，核心EPS为0.56美元;核心EPS依次增加6％，同比增加了30％。
• 由于半导体芯片短缺降低了汽车行业的生产水平降低了销量约为4000万美元和EPS 0.02美元。
• Gross margin expanded 50 basis points sequentially and 70 basis points year over year to 38.3%, despite a net impact of 150 basis points from supply chain challenges and inflationary headwinds.
• Free cash flow was $497 million for the quarter and $1.3 billion for the first nine months of 2021.
• For the fourth quarter, Corning expects core sales to be in the range of $3.5 billion to $3.7 billion with core EPS in the range of $0.50 to $0.55. Profitability is expected to decline slightly on a sequential basis due to further reductions in automotive industry-related sales and lower Corning^®大猩猩^®玻璃销售较大型产品推出客户。
  

Wendell P. Weeks, chairman and chief executive officer, said, “Strong execution resulted in another outstanding quarter as sales reached an all-time high. For the full year, we are on pace to reach $14 billion in sales and over $2 in EPS. We are successfully capturing a compelling set of long-term growth opportunities by innovating, extending commercial relationships, and scaling operations to meet robust demand. We are advancing our market leadership and expect to grow again in 2022.”

Weeks continued, “Corning has become increasingly vital to multiple industry transformations that are moving the world forward. Key trends continue to converge around our capabilities – and we believe this is just the beginning. Corning’s strong position reflects the contributions of our dedicated people as we navigate this period of global disruption.”

Tony Tripeny, executive vice president and chief financial officer, said, “In the third quarter, we continued to execute well in a complex environment. A key driver of that execution was our global supply management and operations teams maintaining a steady supply of raw materials and finding creative shipping strategies. Their actions enabled us to deliver effectively for our customers. At the same time, we incurred additional costs that were elevated by inflation. To help offset these costs, we have price increases underway in all of our businesses.”

Tripeny总结道，“当我们接近2022时，我们仍然专注于驾驶顶线的增长和扩大我们的利润。我们良好地解决了客户需求，深化我们的创新组合，奖励股东。“

市场访问平台亮点

在本季度，康宁继续建立与行业领导者的伙伴关系，如AT&T,吉普车,PPG， 和Samsung在其市场访问平台上进行高级的重要增长举措。

• 光学的Communications- 对网络的需求在历史新高，设置舞台以延长网络容量，能力和访问的重要投资。本季度，该公司宣布与AT＆T合作。康宁的容量扩展将允许AT＆T扩展光纤基础设施的投资，扩展美国宽带网络，加速5G部署。康宁继续表现出市场。
  

• 生活科学- 康宁继续支持大流行反应，其先进的小瓶和药物玻璃管的组合使得到目前为止，能够提供超过30亿剂的Covid-19疫苗。该公司还继续通过关键伙伴关系和不断增长的客户群推进其制药包装组合。此外，创新正在帮助进入基于细胞和基因的疗法的推进，这提供了增加生命科学产品中康宁含量的重要机会。
  

• 移动消费电子产品– Corning continues to advance its objective of delivering more Corning content and capturing higher revenue per device. During the quarter, Samsung introduced its Galaxy Z Fold3 5G and Galaxy Z Flip3 5G, both featuring Corning^®大猩猩^®玻璃维克斯^®。这些设备具有康宁^®大猩猩^®玻璃与DX为器件摄像机，将康宁的入口标记为新产品类别。此外，近30个新设备 - 包括智能手机，可穿戴设备和笔记本电脑 - 推出的康宁^®大猩猩^®玻璃。
  

• 汽车– Corning is uniquely suited to address global trends toward cleaner, safer vehicles that enhance the driving experience. Jeep and Corning announced that a windshield with Corning^®大猩猩^®玻璃可在2021吉普车上作为工厂安装的选项提供_®牧马人和2021吉普车_®角斗士。环境技术继续提供每辆车更多的康宁内容;自2017年以来，该公司的汽车产品销售额增加了40％以上，而全球汽车销售额下降了20％。
  

• Display——大型电视市场预计将grow at a double-digit compound annual growth rate through 2024. Gen 10.5 glass provides the most economical approach for larger sets, and Corning is well positioned to meet growing demand as the leader in Gen 10.5. Glass demand at retail is expected to be up by a high-single digit percentage in 2022. The company expects the glass pricing environment to remain favorable in the fourth quarter and in 2022. Fourth-quarter glass pricing is expected to be consistent with the third quarter.
  

Third-Quarter 2021 Results and Comparisons
(In millions, except per-share amounts)

		Q3 2021			Q2 2021			％ 改变			Q3 2020			％ 改变
GAAP网销售		$	3,615		$	3,501			3%		$	3,001			20％
GAAP Net Income		$	371		$	449			（17％）		$	427.			(13%)
GAAP EPS		$	0.43		$	（0.42）			**		$	0.48			（10％）
Core Sales*		$	3,639.		$	3,504			4%		$	3,007			21%
Core Net Income*		$	485		$	459			6%		$	380			28%
Core EPS*		$	0.56		$	0.53			6%		$	0.43			30％

*Core performance measures are non-GAAP financial measures. The reconciliation between GAAP and non-GAAP measures is provided in the tables following this news release, as well as on the company’s website.

**Not Meaningful

第三季度2021段结果

Display Technologies

		Q3 2021			Q2 2021			％ 改变			Q3 2020			％ 改变
净销售额		$	956		$	939			2%		$	827			16%
净收入Before Tax		$	311.		$	312.			(0%)		$	248			25%
净收入		$	247		$	248			(0%)		$	196.			26%

在展示技术中，第三季度销售额为9.56亿美元，依次增长2％，同比增长16％。顺序地，略微上升，玻璃价格正上涨，预期增加。

光学的Communications

		Q3 2021			Q2 2021			％ 改变			Q3 2020			％ 改变
净销售额		$	1,131		$	1,075			5%		$	909			24%
净收入Before Tax		$	177.		$	188.			(6%)		$	147			20％
净收入		$	139		$	148			(6%)		$	115			21%

In Optical Communications, third-quarter sales were $1.13 billion, up 5% sequentially and 24% year over year. 5G, broadband, and cloud computing continue to drive strong growth across this segment. Increased raw material and shipping costs significantly impacted profitability.

专业材料

		Q3 2021			Q2 2021			％ 改变			Q3 2020			％ 改变
净销售额		$	556.		$	483			15%		$	570			（2％）
净收入Before Tax		$	135		$	103			31％		$	184.			（27％）
净收入		$	107		$	81.			32％		$	146			（27％）

在特种材料中，第三季度销售额为1.56亿美元，顺序增长15％。该公司继续为其优质覆盖材料和先进的光学产品提供显着需求，通过潜在的IT，移动设备和半导体市场的持续实力驱动。在第四季度，该公司预计大猩猩玻璃的典型体积下跌率先支持客户支持客户推出。

环境的技术

		Q3 2021			Q2 2021			％ 改变			Q3 2020			％ 改变
净销售额		$	385		$	407.			(5%)		$	379			2%
净收入Before Tax		$	76.		$	102			(25%)		$	87.			(13%)
净收入		$	60		$	81.			(26%)		$	69.			(13%)

In Environmental Technologies, third-quarter sales were $385 million, up 2% year over year, driven by diesel product sales. The automotive industry was significantly impacted by the semiconductor chip shortage as OEMs extended shutdowns due to production constraints, and Corning's automotive sales and profitability were down as a result. The company expects sales and profit to be further impacted in the fourth quarter.

生活科学

		Q3 2021			Q2 2021			％ 改变			Q3 2020			％ 改变
净销售额		$	305.		$	312.			（2％）		$	223			37%
净收入Before Tax		$	57		$	66.			(14%)		$	36			58%
净收入		$	45		$	52			(13%)		$	28			61％

In Life Sciences, third-quarter sales were $305 million, up 37% year over year, driven by ongoing demand to support the global pandemic response, continued recovery in academic and pharmaceutical research labs, and strong demand for bioproduction vessels and diagnostic-related consumables.

即将到来的投资者活动
11月10日，康宁将参加Baird Virtual全球工业会议。12月1日，康宁将参加瑞士信贷年度技术会议。并于12月7日，康宁将参加巴克莱虚拟全球技术，媒体和电信会议。

Third-Quarter Conference Call Information
The company will host its third-quarter conference call on Tuesday, Oct. 26, at 8:30 a.m. EDT. To participate, please call toll-free (877) 710-0209 or for international access, call (315) 625-3068 approximately 10 to 15 minutes prior to the start of the call. The access code is 483 4419. To listen to a live audio webcast of the call, go to Corning’s website at//www.akinfefatou.com/investor_relations,click “Events,” and follow the instructions.

在此新闻发布中介绍信息
This news release includes non-GAAP financial measures. Non-GAAP financial measures are not in accordance with, or an alternative to, GAAP. Corning’s non-GAAP financial measures exclude the impact of items that are driven by general economic conditions and events that do not reflect the underlying fundamentals and trends in the company’s operations. The company believes presenting non-GAAP financial measures assists in analyzing financial performance without the impact of items that may obscure trends in the company’s underlying performance. Definitions of these non-GAAP financial measures and reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures can be found on the company’s website by going to the Investor Relations page and clicking “Quarterly Results” under the “Financials and Filings” tab. These reconciliations also accompany this news release.

Caution Concerning Forward-Looking Statements
The statements in this release that are not historical facts or information and contain words such as “will,” “believe,” “anticipate,” “expect,” “intend,” “plan,” “seek,” “see,” “would,” and “target” and similar expressions are forward-looking statements. These forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and include estimates and assumptions related to economic, competitive and legislative developments. Such statements relate to future events that by their nature address matters that are, to different degrees, uncertain. These forward-looking statements relate to, among other things, the Company’s future operating performance, the Company's share of new and existing markets, the Company's revenue and earnings growth rates, the Company’s ability to innovate and commercialize new products, and the Company’s implementation of cost-reduction initiatives and measures to improve pricing, including the optimization of the Company’s manufacturing capacity. These statements are subject to change and uncertainty which are, in many instances, beyond our control. There can be no assurance that future developments will be in accordance with management’s expectations. Actual results could differ materially from those expected by us, depending on the outcome of various factors. We do not undertake to update forward-looking statements.

Although the Company believes that these forward-looking statements are based upon reasonable assumptions regarding, among other things, current estimates and forecasts, general economic conditions, its knowledge of its business, and key performance indicators that impact the Company, actual results could differ materially. Some of the risks, uncertainties and other factors that could cause actual results to differ materially from those expressed in or implied by the forward looking statements include, but are not limited to: the duration and severity of the COVID-19 pandemic, and its impact across our businesses on demand, operations, our global supply chains and stock price; the effects of acquisitions, dispositions and other similar transactions; global economic trends, competition and geopolitical risks, or an escalation of sanctions, tariffs or other trade tensions between the U.S. and China or other countries, and related impacts on our businesses' global supply chains and strategies; changes in macroeconomic and market conditions and market volatility (including developments and volatility arising from the COVID-19 pandemic), including inflation, interest rates, the value of securities and other financial assets, precious metals, oil, natural gas and other commodity prices and exchange rates (particularly between the U.S. dollar and the Japanese yen, new Taiwan dollar, euro, Chinese yuan and South Korean won), and the impact of such changes and volatility on our financial position and businesses; product demand and industry capacity; competitive products and pricing; availability and costs of critical components and materials; new product development and commercialization; order activity and demand from major customers; the amount and timing of our cash flows and earnings and other conditions, which may affect our ability to pay our quarterly dividend at the planned level or to repurchase shares at planned levels; possible disruption in commercial activities or our supply chain due to terrorist activity, cyber-attack, armed conflict, political or financial instability, natural disasters, international trade disputes or major health concerns; loss of intellectual property due to theft, cyber-attack, or disruption to our information technology infrastructure; unanticipated disruption to our supply chain, equipment, facilities, IT systems or operations; effect of regulatory and legal developments; ability to pace capital spending to anticipated levels of customer demand; our ability to increase margins through implementation of operational changes and other cost reduction measures; rate of technology change; ability to enforce patents and protect intellectual property and trade secrets; adverse litigation; product and components performance issues; retention of key personnel; customer ability to maintain profitable operations and obtain financing to fund ongoing operations and manufacturing expansions and pay receivables when due; loss of significant customers; changes in tax laws and regulations; the impacts of audits by taxing authorities; and the potential impact of legislation, government regulations, other government action and investigations; and other risks detailed in Corning’s SEC filings.

For a complete listing of risks and other factors, please reference the risk factors and forward-looking statements described in our annual reports on Form 10-K and quarterly reports on Form 10-Q.

Web Disclosure
In accordance with guidance provided by the SEC regarding the use of company websites and social media channels to disclose material information, Corning Incorporated (“Corning”) wishes to notify investors, media, and other interested parties that it uses its website (//www.akinfefatou.com/worldwide/en/about-us/news-events.html.) to publish important information about the company, including information that may be deemed material to investors, or supplemental to information contained in this or other press releases. The list of websites and social media channels that the company uses may be updated on Corning’s media and website from time to time. Corning encourages investors, media, and other interested parties to review the information Corning may publish through its website and social media channels as described above, in addition to the company’s SEC filings, press releases, conference calls, and webcasts.

关于Corning Incorporated.
康宁(www.akinfefatou.com.) is one of the world's leading innovators in materials science, with a 170-year track record of life-changing inventions. Corning applies its unparalleled expertise in glass science, ceramic science, and optical physics along with its deep manufacturing and engineering capabilities to develop category-defining products that transform industries and enhance people's lives. Corning succeeds through sustained investment in RD&E, a unique combination of material and process innovation, and deep, trust-based relationships with customers who are global leaders in their industries. Corning's capabilities are versatile and synergistic, which allows the company to evolve to meet changing market needs, while also helping its customers capture new opportunities in dynamic industries. Today, Corning's markets include optical communications, mobile consumer electronics, display, automotive, and life sciences.