GLW Stock Tumbles 10% Today – Why Corning's Upbeat Q1 Earnings Failed To Cheer Investors

• In the second quarter, the company expects core earnings per share to grow by about 25% year over year, in a range of $0.73 to $0.77.
• Corning said maintenance shutdown at the company's solar wafer facility will add $30 million in expenses in the second quarter.
• The company also announced plans to extend its Springboard growth plan through 2030.

Shares of Corning (GLW) tumbled over 10% in premarket trading on Tuesday despite the company reporting upbeat first-quarter results, as its second-quarter guidance fell short of Wall Street estimates.

Corning reported first-quarter (Q1) 2026 core sales of $4.35 billion, up 18% year over year, and adjusted earnings of $0.70 per share, up 30% year over year, both beating analyst estimates. 

Second Quarter Guidance

Ed Schlesinger, executive vice president and chief financial officer at Corning, said the company expects to grow core sales about 14% year over year to approximately $4.6 billion and to grow core EPS about 25% year over year to a range of $0.73 to $0.77 in the second quarter.

Core sales of about $4.6 billion in the second quarter fell short of analysts’ expectations of $4.67 billion with management citing an extended maintenance shutdown at the company's solar wafer facility, which will add $30 million in expenses versus Q1.

“Our solar ramp continues with our polysilicon business performing above our 20% corporate operating margin target in the first quarter, and our module business is on track to cross over in the second quarter,” Schlesinger added.

The company also announced plans to extend its Springboard growth plan through 2030, and unveiled a new Photonics Market-Access Platform set to launch at the May 6 investor event in New York.

Corning said the platform is aimed at Gen AI Original Equipment Manufacturer (OEM) customers. 

​How Did Retail Traders React?

On Stocktwits, retail sentiment surrounding the stock has improved to ‘extremely bullish’ from ‘bullish’ while message volumes improved to ‘high’ from ‘normal.’

One user on Stocktwits said the second-quarter guidance is dragging the stock.

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