Corning Incorporated (GLW)
Operating profit margin
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating income (ttm) | US$ in thousands | 890,000 | 898,000 | 954,000 | 1,165,000 | 1,438,000 | 1,835,000 | 2,095,000 | 2,180,000 | 2,112,000 | 2,105,000 | 1,810,000 | 1,132,000 | 509,000 | 180,000 | 288,000 | 765,000 | 1,306,000 | 1,623,000 | 1,780,000 | 1,801,000 |
| Revenue (ttm) | US$ in thousands | 12,588,000 | 13,000,000 | 13,315,000 | 13,687,000 | 14,189,000 | 14,459,000 | 14,586,000 | 14,472,000 | 14,082,000 | 13,756,000 | 13,142,000 | 12,202,000 | 11,303,000 | 10,770,000 | 10,703,000 | 11,082,000 | 11,503,000 | 11,721,000 | 11,795,000 | 11,602,000 |
| Operating profit margin | 7.07% | 6.91% | 7.16% | 8.51% | 10.13% | 12.69% | 14.36% | 15.06% | 15.00% | 15.30% | 13.77% | 9.28% | 4.50% | 1.67% | 2.69% | 6.90% | 11.35% | 13.85% | 15.09% | 15.52% |
December 31, 2023 calculation
Operating profit margin = Operating income (ttm) ÷ Revenue (ttm)
= $890,000K ÷ $12,588,000K
= 7.07%
Corning, Inc.'s operating profit margin has exhibited a declining trend over the past eight quarters. In Q4 2023, the operating profit margin was 7.07%, down from 7.16% in Q2 2023 and 8.51% in Q1 2023. This represents a consistent decrease in profitability over the recent quarters. Comparing Q4 2023 to the same quarter in the prior year (Q4 2022), there has been a significant decline from 10.13% to 7.07%.
Furthermore, the downward trend is evident when comparing the latest operating profit margin in Q4 2023 to the levels seen in earlier quarters. The highest operating profit margin was recorded in Q1 2022 at 15.01%, and since then, there has been a consistent decrease in profitability. This suggests potential challenges or changes in the company's operating efficiency or cost structure that are impacting its profitability levels.
It would be essential for Corning, Inc. to analyze the factors contributing to this declining trend in operating profit margin and take necessary actions to improve its profitability in the future. This analysis may involve a review of cost management strategies, revenue generation initiatives, or operational efficiencies to enhance the company's overall financial performance.
Peer comparison
Dec 31, 2023
See also:
Corning Incorporated Operating Profit Margin (Quarterly Data)