Corning Inc Q1 2021 Earnings Call Summary - Thomson StreetEvents

Corning Inc Q1 2021 Earnings Call Summary

Corning Inc Q1 2021 Earnings Call Summary - Thomson StreetEvents
Corning Inc Q1 2021 Earnings Call Summary
Published Apr 27, 2021
17 pages (9302 words) — Published Apr 27, 2021
Price US$ 54.00  |  Buy this Report Now

About This Report

  
Abstract:

Edited Brief of GLW.N earnings conference call or presentation 27-Apr-21 12:30pm GMT

  
Brief Excerpt:

...A. Note: Will be discussing consolidated results using core performance measures. 1. Unless Co. specifically indicates, comments relate to GAAP data. a. b. Core performance measures are non-GAAP measures used by management to analyze business. 2. For 1Q21, the largest difference between GAAP and core results stem from non-cash mark-to-market gains associated with Co.'s currency hedging contracts. B. Mark-to-Market Adjustments: GAAP accounting requires earnings translation hedge contracts and foreign debt settling in future periods to be mark-to-market, and recorded at current value at the end of each qtr., even though these contracts will not be settled in current qtr. 1. For GLW, this increased GAAP earnings in 1Q21 by $308m. a. 2. This mark-to-market accounting has no impact on cash flow. 3. Currency hedges protect Co. economically from FX rate fluctuations and provide higher certainty for earnings and cash flow, its ability to invest for growth and future shareholder distributions. 4....

  
Report Type:

Brief

Source:
Thomson StreetEvents
Company:
Corning Inc
Ticker
GLW.N
Time
12:30pm GMT
Format:
PDF Adobe Acrobat
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The following is excerpted from the question-and-answer section of the transcript.

(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)

Question: Samik Chatterjee - JPMorgan Chase & Co, Research Division - Analyst : It was just on display. I wanted to understand the difference relative to when you talk about retail demand being strong, you talked about double-digit growth. But for the glass market, you're talking about mid-single-digit demand. And that overall glass market outlook sounds very similar to what you've talked about in previous years despite a much stronger market this year. So is that really just a capacity constraint that's limiting the glass market demand? And does that push some demand into next year? I just wanted to better understand that difference.

Table Of Contents

Corning Inc Q2 2021 Earnings Call Summary – 2021-07-27 – US$ 54.00 – Edited Brief of GLW.N earnings conference call or presentation 27-Jul-21 12:30pm GMT

Corning Inc at Sanford C Bernstein Strategic Decisions Conference (Virtual) Transcript – 2021-06-02 – US$ 54.00 – Edited Transcript of GLW.N presentation 2-Jun-21 2:00pm GMT

Corning Inc at JPMorgan European Technology, Media & Telecoms CEO Conference (Virtual) Transcript – 2021-05-25 – US$ 54.00 – Edited Transcript of GLW.N presentation 25-May-21 6:10pm GMT

Corning Inc Annual Shareholders Meeting Transcript – 2021-04-29 – US$ 54.00 – Edited Transcript of GLW.N shareholder or annual meeting 29-Apr-21 4:00pm GMT

Corning Inc Q1 2021 Earnings Call Transcript – 2021-04-27 – US$ 54.00 – Edited Transcript of GLW.N earnings conference call or presentation 27-Apr-21 12:30pm GMT

Corning Inc at Susquehanna Financial Technology Conference (Virtual) Transcript – 2021-03-11 – US$ 54.00 – Edited Transcript of GLW.N presentation 11-Mar-21 3:20pm GMT

Corning Inc at Morgan Stanley Technology, Media and Telecom Conference (Virtual) Transcript – 2021-03-01 – US$ 54.00 – Edited Transcript of GLW.N presentation 1-Mar-21 2:30pm GMT

Corning Inc at Goldman Sachs Technology and Internet Conference (Virtual) Transcript – 2021-02-11 – US$ 54.00 – Edited Transcript of GLW.N presentation 11-Feb-21 3:30pm GMT

Corning Inc Q4 2020 Earnings Call Summary – 2021-01-27 – US$ 54.00 – Edited Brief of GLW.N earnings conference call or presentation 27-Jan-21 1:30pm GMT

Corning Inc Q4 2020 Earnings Call Transcript – 2021-01-27 – US$ 54.00 – Edited Transcript of GLW.N earnings conference call or presentation 27-Jan-21 1:30pm GMT

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Cite this Report

  
MLA:
Thomson StreetEvents. "Corning Inc Q1 2021 Earnings Call Summary" Apr 27, 2021. Alacra Store. May 25, 2025. <http://www.alacrastore.com/thomson-streetevents-transcripts/Q1-2021-Corning-Inc-Earnings-Call-B14670122>
  
APA:
Thomson StreetEvents. (2021). Corning Inc Q1 2021 Earnings Call Summary Apr 27, 2021. New York, NY: Alacra Store. Retrieved May 25, 2025 from <http://www.alacrastore.com/thomson-streetevents-transcripts/Q1-2021-Corning-Inc-Earnings-Call-B14670122>
  
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