and Wendell, morning. good you, Thank
long-term and foundation of our growth and set businesses expected year-over-year. $XX Each from stronger our for and results billion well-positioned sales, to investing the support quarter sales than in XXXX. our are full-year grew we second guidance expect billion. near earlier extend After leadership, to reach $XX.X Our market to up of approximately
and profitability going expect see to improve We significantly forward. and to in that sales on we build QX, plan
results, the primary that Before again our mark-to-market I of want difference between results contracts. non-cash and the get performance our core a note hedge I is into currency details adjustment GAAP to for and our
As we’ve quarter, be discussed those in recorded will end to quarter. current settling be the each settled current the even contracts GAAP of before, future hedge at not accounting mark-to-market and translation value in at requires periods though contracts earnings
no flow. after impact us, cash be $XXX of the For in To this second GAAP clear, has quarter. an million gain for mark-to-market this on our tax accounting resulted
Our fluctuations future earnings and for foreign higher currency cash to for protect our certainty us our distributions. invest hedges economically provide growth our ability flow, shareholder rate exchange and and from
rate, of provide operations aligned transparency Our results into constant non-GAAP transactions. with economics our additional currency using by the core or underlying a
over issued very under pleased That the cash hedging and ago. since outlook. brings to it program We’ve hedge in five provides. contracts and inception, our our our slightly results our $X.X me with billion We’re years certainty economic
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percentages fiber XX.X margin largest filters, particulate optical other include several now With Gorilla automotive, an Hefei we inflection the and recent for of having investments gasoline several our These plus display the mobile devices projects. capacity at planned major and constrained quarters. are continuation for projects glass capacity thresholds, of for cable, point. and plant, operating Gen development investments Glass our expansions gross projects cross Our in
our gross and Our sales run is rate climbing is expanding. margin
to sales achieve $XX.X in up the expect for approximately the half. to year and We gross billion XX% second expand in margins
$XXX operating Adjusted of Turning with quarter We the million. the for to was sheet. the cash. balance quarter cash $X ended flow billion
Now, let’s and outlook. the look at detailed segment results
we’re Let’s towards where stable start with returns. Technologies Display great progress making maintaining
been at plant ramping. are in The new very with expectations. results is more XX.X has pricing And the production than sales Retail Gen our environment strong, globally. decade. best in line Our were is it a
Second up Net year-over-year. was quarter sales $XXX million, and income sequentially $XXX were million.
sequential better Second than price declines QX, quarter were expected. as
price For the reach annual to continuing These improvements price allow sequential expect us improving quarter and continue declines will the we declines in milestone quarter, pricing declines to again of view factors third into for very this third important improving the percentage in be to will a sequential favorable XXXX. moderate. that mid-single-digit our to Three environment more that drive continue. trend price
or expect be to we glass First, even balanced tight. supply to continue
our capacity align co-located ensure schedule. tandem supports and balanced the on plant growth XX.X dedicated XX.X with customer is supply to BOE Gen new Our with to expected demand, We It TVs. to Gen large-sized ramp and is our BOE. glass the in pace is of
glass demand below in to but is grow indicates, the further makers. balance by capacity glass this Gen demand XX.X because little plan continues supply expect in segment public We there to information XXXX tighten growth
Second, the to even they expect generate support profitable. glass further to manufacturing declines we And to to price slow LCD pricing try investments ongoing pace acceptable levels. improve profitability current glass challenges returns remain third, in continue our requires investment, new need at further. on To Therefore, growth. competitors and pricing will capacity current as will
for Corning, can add we will capacity our only if For shareholders. an get attractive we return
digits demand year-over-year retail and positive demand a consumer Strong which Viewing grew impact demand. prices TV driven retail. lower was TV having by worldwide. QX. panel to area prices very moving double in strong Now, are on was thus
the We demand year. of expect remain to TV for retail rest robust the
we the Hefei, quarter glass grew LCD April volume second market low in the total our with grew guidance. in ramp digits volume production we our line for as In As faster sequentially single XXXX, market, and market in to grow tandem production volume with third the Hefei XX.X in to faster LCD continue expect we quarter grow demand. mid-single-digit glass as of our and volume sequentially Gen BOEs ramping
continue we expect market full-year, to size grow glass as the mid-single-digits continues. screen For LCD volume television growth to
good volume the by In market, our ramp-up. the and we to Hefei price expect about faster Gen year for full driven XX.X than grow very We volume. brief, feel
fleet As by half we start-up Display gross described factors, margin last affected Hefei optimization. quarter, was and two first the
improve. the the of and the our gross that with margins productivity remain returns. display in factory In very stable utilization our we increasing, summary, Now current is dynamics pleased and our maintaining in our half second year should business progress in
move Let’s to Optical Communications.
year-over-year growth and up sales income $XXX Net our quarter XX% by XX% Sales year-over-year. carrier customers. and driven Second was up centers exceeded $X was were both billion. million, data
capital due our utilization growth As volume increased to expected, expansion and progress initiatives. capacity profitability on and
be XXXX, of demand. to to second integration neutral We’re on In this in successfully bring about cost. and the half Division. $XXX continuing will to capacity due sales million to committed we line support the transaction additional In closed acquisition in in Communication QX, add Markets XM’s EPS
and in be announced, previously expect accretive will we beyond. XXXX it As
about quarter up third from business the to sales expect sales year-over-year, XX% We acquired including XM. from recently be
by driven advantage markets, preference than and carrier full-year fiber in strong now half, outlook, the we be the by our capacity sales data low-teens, Given the acquisition. enabled year-over-year, from to solutions growth by from to center and Overall, the and additional and expansions. half cable for sales first organic $XXX we an in faster These are are sales output high-teens additional second million our XM new percentage, Communications improving up with growing increased market. Optical expect our the and
growth. to second delivering. XX%. All $XXX the quarter Environmental We’re excited about up our we’re sales were contributed Technologies products million, growth
Second growth our well was quarter by up as in categories driven net our operations. volume as strong product performance XX%, in income manufacturing
faster As market. more year, the the platforms due anticipated, second we’re and that for diesel last sales business awarded sales the improvement in In our continues XX% North than up began to America shift year-over-year XX% our to growth growing heavy products. the of auto, were QX. in duty premium also Sales driving half
of Additionally, regulations for September. the to X as gasoline growth adoption particulate in filters full Euro ramp OEMs contributed
making business. of progress We investments support the ramp engineering capacity are GPF with the in to
growth to strong expect third year-over-year. We high-teens in sales the of the performance continue quarter with
also sales year-over-year. are our to increasing We growth outlook teens mid full-year
to sales Gorilla continued as products, begin sales. for Glass second OEMs half million $XXX sales all quarter were ahead were net expect releases. in ramp product by Sales ramping In strength X% was We income GPF Materials, and higher second driven of including expectations of Specialty and $XX year-over-year, shipments up million.
product While was underlying income quarter costs. for net development operations the by remained impacted solid,
goal in progress Although double to is to leadership extend Electronics towards long-term we the sales. and overall continue our market smartphone Consumer maturing, Mobile our
Our of playing with we out at value-added a launch ability as We last products expected. X. delivered innovate to week’s premium and Glass innovation Gorilla deliver price breakthrough another is
We and Innovations more places. in these, differentiation like capture DX the of in more more and increase our value Glass also our glass value support entered extend Gorilla using glass, DX+ to in wearables.
innovative We half. products strong shipments in the second of expect
up XX%, For QX, to we expect about sales be year-over-year.
We half. performance. strong income and year-over-year; throughout growth driven generate manufacturing $XX In Sciences, Life the and million, by million, strong sales expect additional the specialty demand was to earnings up materials XX% XX%, second were net $XXX second up quarter sales
to growth. outpace continue market We
are last to mid-single-digit by sales year. grow a percentage expected quarter Third over
to last year. are We be percentage also our outlook high-single-digit increasing up mid by to full-year sales a over
businesses We have billion, for XXXX, momentum. which now all up So, $XX.X is sales XX%. about full-year expect our positive of of
details. additional some Now, I’ll outlook share
First, let’s to gross turn margin.
year as and the the quarters, Annual to up with from a remain expenses margin sales. last last year. percentage gross expand of our expect significantly versus and We operating half in XX% first fourth to consistent third should
RD&E XX% be full-year, X%. about the SG&A to expected of about and is sales For
our about second expense other million. rate in We income at million to $XX run remain quarter of expect QX $XX other to
expect equity the of just $XXX For full-year, net approximately $XXX over million, gross $XXX million similar be XXXX to Full-year earnings XXXX are we the at to from expense Hemlock to expected Hemlock’s the million. approximately $XX at seasonality. the to strongest. contract Semiconductor third the the its typically timing makes Recall that consistent $XX fourth with typical with quarter million million, quarter of predominantly
XX.X%. rate billion you modeling for Our we programs at we quarter to quickly showing, QX be the some how additional third full similar with on tax year. X our to and year slides quarter the expenditures third about give related and much detail are every full In investments. an the XXXX, than for ramp should depend more more, How market-access spend on will capital expect we slightly of platform. in The
will We posted you keep as continue to year the progresses.
Finally, impact from the we expect tariffs. do not or a inactive material contemplated
are all, proposed current tariffs. not TVs of on of First list the
Second, it’s impact as in our tariffs. less minimizes the makes products our philosophy philosophy of This to to susceptible activity region manufacture us cross-border customer. the and same our
Third, of we aluminum are not big steel. and consumers
So, from we impact tariffs. minimal expect related
the closing, we capital expect significant stronger So, tariffs. for allocation that now we even our not four-year our of the and underscore from half XXXX. impact are We strategy in second and financial second Framework. results expect total, well-positioned an quarter do track In on
$XX.X in expect full-year reach with to billion sales We margin approximately capacity second expansion. half and
the growth display the expect milestone environment quarter decade million Framework’s reach than for introduction. Life to a as we we in expect of a Framework as billion, to important Sciences. progress in total $XXX said, in in Technologies single-digit pricing the returning the price year-over-year We XXXX second the of since is QX. Environmental mid continued $XX.X and and on shareholders best included Materials, declines Specialty the Communications, Other Optical And more
growth future $XX.X and we rewarding the growth and businesses Ann? investing meet billion returning billion, are than shareholders. our for position all as With Putting drive we let’s Q&A. to benefit to $XX our leadership, sales our extend together, also short compounds of long-term We’re growth invest investors which that, opportunities. move by more long-term it to to
