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CORNING News Release Corning Incorporated www.corning.com FOR RELEASE - July 27 , 2021 ● Second - quarter core sales of $ 3.5 billion grew 35 % from Q2 2020 and 17 % from Q2 2019 Core EPS grew 112 % year over year to $ 0.53 on higher sales and expanded margins Free cash flow of $ 471 million grew $ 186 million , or 65 % , year over year CORNING , N.Y. - Corning Incorporated ( NYSE : GLW ) today announced results for the second quarter ended June 30 , 2021 , and provided an outlook for the third quarter of 2021 . ● Corning Reports Outstanding Second - Quarter 2021 Results , Expects Continued Growth in Third Quarter GAAP and core sales were $ 3.5 billion ; core sales grew 35 % year over year and 17 % versus second - quarter 2019 . GAAP net income was $ 449 million and core net income was $ 459 million . GAAP EPS was ( $ 0.42 ) and core EPS was $ 0.53 , up 112 % year over year and 18 % versus second - quarter 2019 . The difference between GAAP and core EPS was primarily due to a one - time accounting treatment resulting from the Samsung Display Co. , Ltd. preferred share transaction , which reduced fully diluted share count by 35 million . Gross margin expanded 200 basis points sequentially to 37.8 % , and operating margin expanded 120 basis points sequentially to 18.3 % . Free cash flow of $ 471 million grew $ 186 million year over year ; first - half free cash flow generation was $ 843 million . Looking ahead to the third quarter , the company expects core sales to be in the range of $ 3.5 billion to $ 3.7 billion and core EPS in the range of $ 0.54 to $ 0.59 . " Corning had an outstanding second quarter . We are growing faster than our underlying markets and achieved a revenue milestone of $ 3.5 billion , establishing a strong sales run rate . We are performing well as we continue to build a stronger , more agile company that's consistently delivering meaningful and important contributions , " said Wendell P. Weeks , chairman and chief executive officer . " Corning's deep commitment to life - changing innovation and our people's unwavering dedication continue to drive us forward . " Tony Tripeny , executive vice president and chief financial officer , said , “ Corning is on track to deliver an outstanding year . In the second quarter we added almost $ 1 billion in sales year over year and a half billion in sales over pre - pandemic levels ; we improved margins year over year and sequentially , contributing to strong EPS ; and we generated significant operating and free cash flow . We are confident this momentum will continue . " © 2021 Corning Incorporated . All Rights Reserved .