Corning Incorporated (GLW) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

we have transformed the financial profile of our company. We expanded operating margin by 390 basis points to 20.2%. We grew EPS 85% to 72 cents and we expanded ROIC 540 basis points to 14%. We also nearly doubled free cash flow in 2025 to $1.72 billion from $880 million in 2023. In total, we now have a highly profitable launch point for future growth. And excitingly, we have even stronger long-term growth ahead. Today, we are upgrading our original springboard plan to now add $11 billion in incremental annualized sales by the end of 2028, up from our original $8 billion. So we feel great about our position entering 2026. In quarter one, we expect year-over-year growth to accelerate with core sales up approximately 15%. to a range of $4.2 to $4.3 billion. Looking at 2026, our internal springboard plan now adds $6.5 billion in incremental annualized sales by the end of the year up from our previous $6 billion plan. And our high-confidence springboard plan now adds $5.75 billion up from our previous $4 billion plan. Quite simply, our strategies are working. We're seeing remarkable demand for our innovations and manufacturing capabilities, and we see a larger, long-term growth opportunity through 2026 and beyond. Recently secured customer contracts, including the one we just announced with Meta, only increase our confidence. We've been getting a lot of questions about the Meta agreement from our investors. So before I talk about Springboard in more detail, let me take a moment to outline the key elements. Just yesterday, we announced that Corning and Meta announced a multi-year, up to $6 billion agreement to support Meta's apps, technologies, and AI ambitions using our newest innovations in optical fiber, cable, and connectivity solutions. This long-term partnership wit...