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Corning’s Strategy and Capital Allocation Framework

Our Strategy and Capital Allocation Framework

Corning’s continued success stems from our ongoing execution of the Strategy and Capital Allocation Framework that we introduced in 2015. The Framework articulates Corning’s leadership priorities. It’s our plan for leveraging our financial strength and focusing our portfolio to deliver value over the next several years.

Since introducing the Framework, Corning has delivered on our commitments and advanced key programs across our market-access platforms. As we look ahead, we are confident in our ability to achieve the goals of our Framework and continue doing what Corning does best ⎯ transforming industries, enhancing people’s lives, and delivering disruptive innovations that create value for decades. Our confidence is based not only on our outstanding 2017 results, but also on Corning’s 166-year track record.

Read more about the Framework below or visit our Investor Relations website >

Leveraging Our Financial Strength

Corning has continued to make significant progress on our goals to return value to shareholders, as well as to invest in growth and sustained leadership. Three core objectives of the Framework outline how we plan to leverage our financial strength:

  • We expect to generate and deploy $26 billion – $30 billion from 2016 through 2019.
  • We are investing $10 billion to grow and extend our leadership through a combination of research and development, capital spending, and strategic acquisitions.
  • We are also returning more than $12.5 billion to our shareholders through share repurchases and annual dividend increases of at least 10 percent.

Corning is more than halfway through the four-year Strategy and Capital Allocation Framework. Our progress on all dimensions of the Framework has been excellent, and we expect to deliver on all of our goals.

Learn more on our Investor Relations site >

Focusing Our Portfolio

Focused Portfolio Strategy

The Framework focuses our portfolio on a set of reinforcing capabilities with strong interconnections. We are best-in-the-world in three core technologies, four manufacturing and engineering platforms, and five market-access platforms. Corning directs 80 percent or more of our resources to opportunities that draw from at least two of these capabilities sets. We believe this approach increases our likelihood of success, reduces the cost of innovation, creates higher barriers to entry for our competitors, and ultimately delights our customers.

“The core of what we do is invent, make, and sell,” said Wendell P. Weeks, chairman and chief executive officer. “We create value by inventing category-defining products, developing scalable manufacturing platforms, and building strong, trust-based relationships with customers who are leaders in their industries.”

 

Three Core Technologies

Three Core Technologies

Corning’s unparalleled expertise in materials science allows us to collaborate closely with customers to solve tough technology problems.

Glass Science

Glass Science

Glass Science

Deep research, relentless experimentation, and constant innovation help improve scientists’ understanding of the fundamental nature of glass to offer glass-based solutions to some of the industry’s toughest problems.

Deep research, relentless experimentation, and constant innovation help improve scientists’ understanding of the fundamental nature of glass to offer glass-based solutions to some of the industry’s toughest problems.

Ceramic Science

Ceramic Science

Ceramic Science

Ceramics might be thought of as the close cousin of glass. With the right composition and forming, both can be extremely hard and resistant to thermal shock, suitable for use in harsh environments like outer space.

Ceramics might be thought of as the close cousin of glass. With the right composition and forming, both can be extremely hard and resistant to thermal shock, suitable for use in harsh environments like outer space.

Optical Physics Fibrance

Optical Physics

Optical Physics

Optical physics has a natural pairing with glass technology since the successful performance of so many advanced glass applications depend on the way they transmit, process, or manipulate light.

Optical physics has a natural pairing with glass technology since the successful performance of so many advanced glass applications depend on the way they transmit, process, or manipulate light.

Four Manufacturing and Engineering Platforms

Four Manufacturing and Engineering Platforms

Corning uses our manufacturing and engineering platforms to reapply talents, repurpose assets, and yield innovations that give us our competitive advantage.

Five Market-Access Platforms

Five Market-Access Platforms

Corning is a leader and innovator in five key market-access platforms. We maintain deep, trust-based relationships in these industries. Our markets and products are constantly evolving, but we always participate in industries that are tied to significant growth trends.

Watch Leadership Explain Our Strategy

Capital Allocation Plan

Focused and Cohesive Portfolio