On a GAAP basis, net sales were $4.14 billion, up 20% year over year, and diluted EPS was $0.43, up 139% year over year.
"We finalized two more hyperscaler deals similar in size and duration to our recently announced multiyear, up-to-$6 billion agreement with Meta $META," Corning chairman and CEO Wendell P. Weeks said in a statement. "In total, we have powerful momentum across our Market-Access Platforms."
Looking ahead to Q2, Corning guided for core sales of approximately $4.6 billion — roughly 14% above the year-ago level — with core EPS projected between $0.73 and $0.77, representing approximately 25% year-over-year growth. The company said second-quarter results will include an extended maintenance shutdown at its solar wafer facility as it transitions to a permanent power system and upgrades production equipment. That shutdown will add about $30 million in expense relative to the first quarter.
That Q2 sales outlook came in just under the $4.63 billion consensus estimate. Following the release of its results, Corning shares dropped over 10% in premarket trading, according to Reuters.
Corning CFO Ed Schlesinger said the company delivered its eighth consecutive quarter of year-over-year growth. Core operating margin expanded 220 basis points, and core gross margin expanded 120 basis points compared with the first quarter of 2025.
The company said it plans to extend its Springboard growth plan through 2030 and introduce a new Photonics Market-Access Platform targeting AI original equipment manufacturer customers at an investor event scheduled for May 6 in New York.
