Corning's strong execution of business strategy drives resilient performance, counteracting end-market challenges.
Corning is one of the world's leading innovators in materials science, with a 169-year track record of life-changing inventions. Corning applies its unparalleled expertise in glass science, ceramics science, and optical physics, along with its deep manufacturing and engineering capabilities, to develop category-defining products that transform industries and enhance people's lives.
Here is breakdown of the company’s third-quarter 2020 performance, with key highlights from its five Market-Access Platforms.
Tony Tripeny, executive vice president and chief financial officer, said, “We’ve executed effectively and bolstered our healthy balance sheet despite the ongoing macro-economic challenges. Our third-quarter sales growth and cost actions led to strong sequential margin expansion, further demonstrating that our operational adjustments are working. Corning has the resources to deliver on our commitments and extend our leadership as we continue to focus on operational excellence, cash flow generation, and prudent capital allocation.”
“We expect another solid quarter to end the year and strong momentum heading into 2021,” Tripeny concluded. “Our execution and market leadership position us to emerge from the current uncertainty even stronger. In the near term, we measure our success by our ability to outperform our markets, our innovation progress, and our balance sheet.”
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