Corning Inc Q3 2021 Earnings Call Summary - Thomson StreetEvents

Corning Inc Q3 2021 Earnings Call Summary

Corning Inc Q3 2021 Earnings Call Summary - Thomson StreetEvents
Corning Inc Q3 2021 Earnings Call Summary
Published Oct 26, 2021
19 pages (10002 words) — Published Oct 26, 2021
Price US$ 54.00  |  Buy this Report Now

About This Report

  
Abstract:

Edited Brief of GLW.N earnings conference call or presentation 26-Oct-21 12:30pm GMT

  
Brief Excerpt:

...2. Unless specifically indicated, comments relate to GAAP data. 3. Core performance measures are non-GAAP measures used by management to analyze business. B. 3Q21: Largest differences between GAAP and core results stem from non-cash mark-to-market losses associated with Co.'s: 1. Currency hedging contracts. a. b. Non-cash impairment charges. 2. Mark-to-market adjustments: GAAP accounting requires earnings translation hedge contracts in foreign debt settling in future periods to be mark-to-market and recorded at current value at each qtr.-end, even though these contracts will not be settled in current qtr. a. This decreased 3Q21 GAAP earnings by $16m. i. b. Mark-to-market accounting has no impact on cash flow. 3. Currency hedges protect GLW economically from foreign exchange rate fluctuations and provide higher certainty for: Earnings and cash flow. a. b. Ability to invest for growth and future shareholder distributions. 4. Non-GAAP or core results provide additional transparency into operations...

  
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 : I guess I wanted to ask you on optical communication and kind of what you're seeing from a demand perspective there. We've heard about a lot of kind of the overall sentiment around demand coming from a lot of the broadband connectivity around the government-subsidized plan. Is the delay on the government side driving any slowdown there? And just moving over to capacity there. You've outlined the expansion capacity as well recently. Just help us understand, if you can, the magnitude of that expansion and its potential impact on margin as you build that capacity up as well.

Question: Samik Chatterjee - JPMorgan Chase & Co, Research Division - Analyst : Yes. And the only addition to that is the deal in the government infrastructure plan driving any slowdown in terms of interest from customers.

Question: Samik Chatterjee - JPMorgan Chase & Co, Research Division - Analyst : Yes.

Table Of Contents

Corning Inc Q4 2021 Earnings Call Summary – 2022-01-26 – US$ 54.00 – Edited Brief of GLW.N earnings conference call or presentation 26-Jan-22 1:30pm GMT

Corning Inc at Barclays Global Technology, Media and Telecommunications Conference (Virtual) Transcript – 2021-12-07 – US$ 54.00 – Edited Transcript of GLW.N presentation 7-Dec-21 2:10pm GMT

Corning Inc at Credit Suisse Technology, Media & Telecom Conference Transcript – 2021-12-01 – US$ 54.00 – Edited Transcript of GLW.N presentation 1-Dec-21 6:05pm GMT

Corning Inc at Robert W Baird Global Industrial Conference (Virtual) Transcript – 2021-11-10 – US$ 54.00 – Edited Transcript of GLW.N presentation 10-Nov-21 3:50pm GMT

Corning Inc Q3 2021 Earnings Call Transcript – 2021-10-26 – US$ 54.00 – Edited Transcript of GLW.N earnings conference call or presentation 26-Oct-21 12:30pm GMT

Corning Inc at Citi Global Technology Virtual Conference Transcript – 2021-09-14 – US$ 54.00 – Edited Transcript of GLW.N presentation 14-Sep-21 1:40pm GMT

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 Q2 2021 Earnings Call Transcript – 2021-07-27 – US$ 54.00 – Edited Transcript 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

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Cite this Report

  
MLA:
Thomson StreetEvents. "Corning Inc Q3 2021 Earnings Call Summary" Oct 26, 2021. Alacra Store. May 25, 2025. <http://www.alacrastore.com/thomson-streetevents-transcripts/Q3-2021-Corning-Inc-Earnings-Call-B14995209>
  
APA:
Thomson StreetEvents. (2021). Corning Inc Q3 2021 Earnings Call Summary Oct 26, 2021. New York, NY: Alacra Store. Retrieved May 25, 2025 from <http://www.alacrastore.com/thomson-streetevents-transcripts/Q3-2021-Corning-Inc-Earnings-Call-B14995209>
  
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