Corning reported Q1 sales of $4.35 billion, up 18% and ahead of expectations, driven by 36% growth in optical communications and 80% in solar. Gross margin expanded 120 bps to 39.1%, operating margin reached 20.2%, free cash flow was $188 million, and ROIC rose 190 bps. Management highlighted Springboard progress with sales up 33% and EPS up 79% since late 2023, announced three new large AI fiber contracts using risk-sharing terms, and plans to extend the program to 2030, though solar wafer delays and a $30 million Q2 cost hit raise questions about margin durability and growth sustainability.

Company: Corning Incorporated (GLW) — Q1 FY2026

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