Corning reports first-quarter 2023 financial results

First-quarter sales and eps were as expected, reflecting the impact of anticipated recession-level demand in several key markets and overall weakness in china; pricing and productivity-improvement actions drove sequential increases in both gross and operating margin percentages despite lower sales; display technologies' volume increased late in the quarter as conditions improved and panel maker utilization resumed its recovery; management expects second-quarter improvement in sales, profitability, and cash flow, with core sales in the range of $3.4 billion to $3.6 billion and core eps in the range of $0.42 to $0.49 first-quarter sales and eps were as expected, reflecting the impact of anticipated recession-level demand in several key markets and overall weakness in china; pricing and productivity-improvement actions drove sequential increases in both gross and operating margin percentages despite lower sales; display technologies' volume increased late in the quarter as conditions improved and panel maker utilization resumed its recovery; management expects second-quarter improvement in sales, profitability, and cash flow, with core sales in the range of $3.4 billion to $3.6 billion and core eps in the range of $0.42 to $0.49
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