Specialty Materials Lead Corning Results

Corning Incorporated had core sales of $3.67 billion in the third quarter of 2022, a three per cent decrease over core sales of $3.76 billion in the third quarter of 2021. While most demand drivers were down, the ongoing demand in the solar market contributed to 33 per cent year-over-year growth in its Hemlock and emerging growth businesses. Net sales in the company’s specialty materials segment were $519 million, up seven per cent over net sales of $485 in the year-ago quarter. Overall core gross margin and core operating margin of 36.1 per cent and 16.9 per cent, respectively, were impacted by low volume in the display technologies segment.