Corning's (GLW -1%) Q3 LCD glass volumes are expected to be up slightly Q/Q, and price declines steady with Q2.
Specialty Materials (inc. Gorilla Glass) sales are expected to grow 10% Q/Q.
Telecom sales seen growing 20% Y/Y, environmental technologies "up slightly," Life Sciences (boosted by acquisition) +40%-45%
Q2 Display Technologies sales (inc. LCD TV glass) +21% Y/Y, up from +7% in Q1. LCD glass price declines smaller than Q1's, as expected. Segment earnings +11%.
Telecom sales +8% (-7% in Q1), Earnings +62% (aided by cost reductions).
Specialty Materials (inc. Gorilla Glass) +2% Y/Y (-10% in Q1). Earnings +33%.
Environmental Technologies -8% Y/Y (-13% in Q1), Life Sciences +35%.
Dow Corning (silicone unit) earnings -19% Y/Y, expected to fall 50% Q/Q in Q3.
Q2 gross margin was 43%, flat Q/Q and +100 bps Y/Y
$242M spent on buybacks.
SG&A spend -7% Y/Y, R&D -3% thanks to cost cuts.
Q2 results, PR