Corning Incorporated: Will The Continued Demand in Optical Communications Become A Major Growth Catalyst In 2024 & Beyond?

Corning Incorporated reported its fourth-quarter and full-year earnings for the year 2023. The company reported $3.3 billion for the quarter, gross margin of 37%, and earnings per share (EPS) of $0.39, meeting expectations. There was also $0.5 billion in free cash flow. Despite lower sequential sales, the gross margin was in line with the third quarter, indicating a temporary depression in the demand in most of Corning Incorporated’s markets due to macroeconomic factors and supply chain corrections.