Corning (GLW) Q3 Earnings Preview: What You Should Know Beyond the Headline Estimates

Wall Street analysts forecast that Corning (GLW) will report quarterly earnings of $0.66 per share in its upcoming release, pointing to a year-over-year increase of 22.2%. It is anticipated that revenues will amount to $4.21 billion, exhibiting an increase of 12.7% compared to the year-ago quarter.The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.With that in mind, let's delve into the average projections of some Corning metrics that are commonly tracked and projected by analysts on Wall Street.Analysts predict that the 'Net Sales- Display Technologies' will reach $937.78 million. The estimate indicates a year-over-year change of -7.6%.Analysts' assessment points toward 'Net Sales- Hemlock and Emerging Growth Businesses' reaching $339.07 million. The estimate indicates a year-over-year change of +13.8%.The average prediction of analysts places 'Net Sales- Specialty Materials' at $561.95 million. The estimate indicates a change of +2.6% from the prior-year quarter.It is projected by analysts that the 'Net Sales- Life Sciences' will reach $248.88 million. The estimate suggests a change of +2% year over year.According to the collective judgment of analysts, 'Net Sales- Optical Communications' should come in at $1.66 billion. The estimate suggests a change of +33.4% year over year.The collective assessment of analysts points to an estimated 'Segment Net Income- Display Technologies' of $232.89 million. Compared to the current estimate, the company reported $285.00 million in the same quarter of the previous year.The consensus among analysts is that 'Segment Net Income- Life Sciences' will reach $17.30 million. Compared to the present estimate, the company reported $15.00 million in the same quarter last year.Analysts forecast 'Segment Net Income- Optical Communications' to reach $240.96 million. Compared to the current estimate, the company reported $175.00 million in the same quarter of the previous year.The combined assessment of analysts suggests that 'Segment Net Income- Specialty Materials' will likely reach $84.81 million. The estimate is in contrast to the year-ago figure of $72.00 million. View all Key Company Metrics for Corning here>>> Shares of Corning have demonstrated returns of +5.3% over the past month compared to the Zacks S&P 500 composite's +0.2% change. With a Zacks Rank #1 (Strong Buy), GLW is expected to beat the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .Radical New Technology Could Hand Investors Huge GainsQuantum Computing is the next technological revolution, and it could be even more advanced than AI.While some believed the technology was years away, it is already present and moving fast. Large hyperscalers, such as Microsoft, Google, Amazon, Oracle, and even Meta and Tesla, are scrambling to integrate quantum computing into their infrastructure.Senior Stock Strategist Kevin Cook reveals 7 carefully selected stocks poised to dominate the quantum computing landscape in his report, Beyond AI: The Quantum Leap in Computing Power.Kevin was among the early experts who recognized NVIDIA's enormous potential back in 2016. Now, he has keyed in on what could be "the next big thing" in quantum computing supremacy. Today, you have a rare chance to position your portfolio at the forefront of this opportunity.See Top Quantum Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Corning Incorporated (GLW): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks