Corning is laying the groundwork today for performance that should outpace its peers by 2026 and beyond, Weeks said, as the company positions itself at a pivotal crossroads of American industrial policy and global supply chains. The dual push into AI networking and solar manufacturing arrives just as the policy landscape shifts, with a sunny spot in the sunlit future of domestic, vertically integrated production.
In the latest earnings moment, the solar ambitions were spotlighted alongside the blazingly strong quarter. Corning reported Q2 core sales of $4.05 billion, up 12% year over year, while core net income climbed 29% to $523 million, or about $0.60 per share—roughly 28% higher than the year-ago period. The results topped analyst forecasts, sending the stock up 11.86% on July 29 and another 1.02% the next day. By July 31, the shares had risen to $61.98, lifting year-to-date gains to more than 40%.
Among its businesses, the optical communications segment was the star, with sales leaping 41% to $1.57 billion and accounting for nearly 40% of total revenue. The unit also drove more than half of the company’s profit, with net income up 73% to $247 million. Growth flowed from surging demand for AI-enabled data centers, and interconnect product sales doubled sequentially in the quarter. Enterprise networking revenue advanced 81%.
The AI infrastructure wave is rolling faster than expected, Weeks noted during the earnings call, as Corning taps into the right place with the right capabilities. Yet not every corner shone—the consumer-adjacent side faced headwinds. Automotive applications revenue fell 11%, and display technologies declined 4%, against a backdrop of intensified market competition and trade headwinds. Specialty materials rose 9%, while life sciences stayed flat.
Beyond AI, Corning pressed its solar manufacturing ambitions, signaling that growth in this area should accelerate as domestic capacity comes online. Weeks highlighted strong customer response to the U.S.-made photovoltaic products, and reiterated that growth is expected to pick up as production capacity comes online. The company recently closed a deal to acquire a 2-gigawatt solar module factory in Arizona from JA Solar, a move that gives Corning a foothold in one of the clean energy supply chain’s strongest segments. The Arizona facility now operates under American Panel Solutions (AMPS).
Corning already owns Hemlock Semiconductor, the polysilicon producer, and broke ground last year on a solar wafer plant in Michigan, bringing the entire operation closer to vertical integration in U.S. solar manufacturing.
For now, solar remains a long-term bet. The Hemlock and Emerging Businesses segment, which includes photovoltaics, posted a $10 million loss on $326 million in revenue—the only red division. Still, the loss narrowed from the previous quarter’s $16 million deficit. CFO Edward Schlesinger noted that solar wafer production will begin in Q3, with module shipments to follow. The company aims to generate about $2.5 billion in annual solar revenue by 2028.
On policy risk—particularly the Trump administration’s rollback of incentives—Weeks said he expects the Advanced Manufacturing Production Credit (AMPC) to stay in place and emphasized Corning’s focus on U.S.-based, vertically integrated manufacturing. “We believe the government will continue to support domestic production,” Weeks said, calling solar modules a high-margin, low-capex business that aligns with Corning’s strengths in integration, much like its fiber optics strategy.
Guidance for the next quarter came in upbeat. Corning projected core sales of $4.2 billion and earnings per share between $0.63 and $0.67, once again topping consensus forecasts. The company said tariff-related headwinds would shave about $0.01 to $0.02 per share, with an additional $0.02 to $0.03 in costs tied to ramping Gen AI and solar capacity.
Following the results, Mizuho Securities raised its price target on Corning from $59 to $63, noting that both AI infrastructure and clean energy are becoming structural growth drivers.
In sum, Corning’s two-speed strategy—advancing AI networking while building out solar manufacturing—comes at a turning point for U.S. industrial policy and global supply chains. Although some traditional businesses endure cyclical pressure, the company is clearly positioning itself as a major beneficiary of next-generation infrastructure—both digital and green. Weeks added that Corning is setting the stage today for performance that will outpace peers in 2026 and beyond.
