Corning Incorporated

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SKU: GLW Category:

Description

This is our first report on the material science behemoth, Corning. The company has had a strong start to 2022 with improved profitability. It experienced overall business strength and successfully navigated a challenging geopolitical and external operating environment. Both the gross margin and operating margin have been increasing since the start of 2022. The benefits of pricing actions across all of its businesses were the main factors driving the improvements. The life sciences sector has been a major growth driver where they have made significant cell and gene therapy advancements, and increased access to glass vials and tubing. The company also collaborated with 5E Advanced Materials to supply boron specialty materials. Furthermore, they are working to develop a pharmaceutical manufacturing industry that is more effective, sustainable, and of higher quality. The management appears confident in their ability to promote long-term profitable growth combined with their steps to increase margins. We initiate coverage on Corning with a ‘Buy’ rating.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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