Why Shares of Corning Are Tumbling Lower Today

Announcing third-quarter 2026 financial results before the market opened today, Corning (GLW -0.49%) provided investors with a lot to celebrate. With shares of the specialized glass manufacturer dipping lower this morning, though, it’s clear that investors weren’t impressed with the company’s recent performance.

As of 1:08 p.m., ET, Corning shares are down 1%, paring back an earlier loss of 4.7%.

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Corning grows Q3 core sales 19% year over year, but investors are more focused on something else

Corning reported revenue of $436 million for its solar business in Q3 2026, a quarter-over-quarter decrease from the $438 million it reported in Q2 2026. In addition, Corning reported a $7 million net loss for its solar business, consistent with the $7 million net loss it incurred in Q2 2026 and a sharper loss from the same period in 2025, when it reported $30 million in net income for its solar business.

GLW – Corning

$127.12-$0.63 (-0.49%)

NYSE · As of 2:59 PM ET 10/27/26

In the Q2 2026 earnings presentation, management stated that the solar business’s revenue and profitability would improve in Q3.

Reporting Q3 2026 core sales of $5.08 billion, Corning beat analysts’ expectations of $5.03 billion. At the bottom of the income statement, the company reported Q3 core earnings per share (EPS) of $0.91 — better than the $0.88 that analysts had anticipated.

Corning manufactures specialized glass, ceramics, and optical materials for numerous applications, including smartphone screens, televisions, telecommunications networks, automotive emissions systems, and laboratory equipment.

For the fourth quarter, Corning projects sales growth of about 19% year over year and EPS growth of 36% year over year.

Is Corning stock a buy today?

Investors may find the drop in the solar business disconcerting, but given the company’s otherwise strong quarter, it’s certainly reasonable to consider picking up shares. With shares trading at 30.8 times forward earnings, investors may want to wait for a further pullback before clicking the buy button on this tech stock.

Source: www.fool.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.