profit growth morning. and excellent Each Wendell, an year-over-year outstanding across of the sales with one good and you, businesses had our board. delivered Thank results quarter. We
again expect strong expect the $XX.X and quarter now and for to XXXX. fourth We billion in exceed sales performance very full-year, for
an point. We inflection have passed
sales significant Our now quarters last and are over greater few profitability. the delivering investments
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performance I for currency our Before results, hedge is the want difference details note that again core of between mark-to-market and the contracts. our I into adjustment primary results and GAAP our non-cash get to a
recorded and discussed current contract settling quarter, at mark-to-market before, the As future we earning in those of not GAAP the to hedge translation though periods each settled current requires even contracts accounting the value at will in be be quarter. end
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up up income $X.XX XX%; Third quarter and XX%. EPS XX% sales was was increased net year-over-year;
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Gen As all support glass expansions for capacity plant, multiple and investments strong reminder, filters, projects, Gorilla including capacity businesses. These gasoline and display committed mobile optical across our demand XX.X devices for particulate automotive. expansion fiber cable, Glass include for projects our a and and development capacity for customer
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adjusted the and sheet. cash quarter the operating to quarter balance was with of $XXX Turning the flow billion We million. $X.X cash, for ended
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margin optimization. and gross business the July, because improving in startup two explained we factors, the XX.X display is of our fleet Gen in As
capacity successful our expanding we’re the leadership contributing to stable profits ramp investments seeing. Our now significantly and in are
milestone percentage. of third expected, moderate, mid-single-digit price declines quarter sequential improving to important we were very declines and price As the reached a annual
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will our drive Three our improve pricing price expect continue. to this We environment XXXX favorable factors full-year further view from declines that XXXX
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if an capacity For shareholders. we Corning, can only will return attractive our for get we add
rest expect year. to year-to-date the strong and of Moving robust remain retail. the has been TV for we demand it
to We inches this grow continue TV size screen X.X year. to expect
expect mid single We for full in also growth continue volume the the market to display digits year. glass
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to Let’s move Communications. Optical growing this year’s fastest segment,
Division, carrier XX% driven and second $XXX growth XM’s up acquired a billion and both were sales from for sales Net Communication customers, data in year-over-year. XX% was $X million, center our by and we the income up year-over-year which in Markets row. quarter exceeded Third a June. quarter was Sales
Capacity benefits. Our basis, exceed the expected remain capital low of than year-over-year center we in On large projects from and a clear businesses. sequentially. data be sales yielding and to which under multiple Optical to much is Overall, are ramp, us continues faster the way meet customers investments are carrier demand up to XX%. growth Communications both quarter sales Fourth are enable to growing expected market. digit strong will additional single
solutions and driven new enabled by is growth Our advantaged fiber and data increased the center preference cable market, and for from carrier by our in output our capacity expansions.
the high We in for organic the teens continue to growth expect full-year with teens. low growth
XM’s Our the $XXX mid-year Division acquisitions Markets contribute to of that XXXX sales Communication growth. million of
pleased third expect to on progress quarter in year-over-year. to accretive were and our continue up million, XX% sales to integrating Technologies with EPS this be are We $XXX it XXXX. Environmental acquisition
than sales. quarter Third faster grew income net
third in Our categories demand, manufacturing results resulting in as in product strong market diesel benefit year-over-year from continued this our growth to in strong performance sales due business winning volume operations. North all than premium were we America heavy-duty as business The auto, growing drive well to and to are faster growth the Sales of the XX% year-over-year. In quarter. shift market XX% our for sales up additional products. the
gas as Euro Additionally, in filters contributed ramp adoption articulate OEMs full regulations, which X September. to for of growth began
We the are business. capacity on engineering of GPF to progress support the investments making and ramp
single to growth in We sales expect with year-over-year. up quarter high the digits fourth continue
at year-over-year. including product income strong growth million, in continued our with be was expectations. performance Specialty and This ramping releases. mid-teens to by Gorilla to of was sales XX% strength innovations half a full-year third-quarter $XXX pull Net strong support our of In up for ahead was expect $XXX new Materials, all driven Glass of XX% sales up exceptionally outstanding second products, We year-over-year million, year-over-year sales sales. with GPF
third to demonstrates The deliver price. a ability quarter our and premium products at innovate value-added
capture in our places. of our use example, portfolio For multiple with broadened the backs delivered phones more increase doubled and in the the Innovations value using to more differentiation, of our more these, over and breakthrough the extend value like in glass another glass glass, We support Gorilla X past has year. Glass applications. innovation of on July
quarter, XXXX, sales fourth sales remain Specialty’s fourth the with which was quarter. be expect For highest strong comparable the of quarter and we to
sales We last Fourth low of quarter percentage track digit mid million, which after In sales For year year-over-year. digit were full-year manufacturing X% expected mid growth to growth, single single remain XX%, single outpaces digit deliver year-over-year. And XX% the percentage Sciences, sales to an are over a overall grow in mid XXXX. by a Life full-year, up we third improved to grew year, income market quarter high to exceptionally growth. sales of expect by strong growth $XXX performance. net driven on
So, momentum. have billion, all is sales We now than more $XX.X for positive to of XXXX, our exceed XX%. slightly full-year businesses up expect which
outlook share additional details. some I’ll Now,
We to margins First, delivered gross turn to let’s on gross goal our margin. expand our at XX%.
new accomplished completing we we said optimization. goal we capacity and would, the Display, fleet ramping As by capacity display Optical, ramping new this in the in the
sustain a to versus of percentage quarter. first gross Annual in is and expenses improvement year the year. half percentage last margin consistent this operating should a remain the expect This We sales. with fourth as last over significant
sales to quarter, is fourth X%. XX% be about the For about of and expected RD&E SG&A
QX or third million We our quarter rate expense remain to million. expect about income other run other at to $XX in $XX
of seasonality. third its typically year-to-date fourth million, the approximately tax our at Recall timing XX.X%. rate $XXX typical makes quarter Hemlock’s is quarter consistent quarter, $XXX In expect we with fourth of equity gross to net expected million, at $XXX from predominantly Semiconductor million to XXXX are the similar to $XXX over be For the full-year, earnings Hemlock Full-year expense strongest. with approximately that contracts the million. just
to full-year. every and slides additional In modeling you this to expect in we We related give in slightly billion expect $X capital than access the XXXX, fourth details at on remain level. QX market programs the platform. for we The expenditures quarter spend posted our more effective tax with rate
couple comments China. to like Finally, I���d on make of a
July, said not from the enacted we do tariffs. material in as we impact First, expect a
full-year our we for an and are our XXXX. track If strong We Second, results remainder across goal framework Optical market and TVs and billion exceed is the Sciences, inflection to for expand $XX.X million strategy Materials, incorporated Specialty quarter Life that full-year allocation sales. the framework. capital have all continue our Chinese is Other Communications, for well included autos together, billion conservative Technologies, Putting a returning for are expected expect for underscores we third in our shareholders point. $XXX now since better, met in in and $XX.X stable positioned introduction. to In XXXX on China for outlook demand end opportunity upside. very to have guidance and Display. to we of Strength progress and is in Environmental and returns demand estimates third the strong the closing, moved framework’s of quarter total margins beyond the it delivering there we on
are growth extend We our and drive seeing leadership. investment our four-year, billion now $XX
rewarding shareholders. We returning by of billion, than that, With which our Ann? future $XX.X long-term compounds to growth benefit for are investors the Q&A. more let’s move
