another morning good outstanding in everyone. Wendell, resulted Thank quarter. and Strong you, execution
We significant and are XXXX. progress grow operations EPS, billion again $X extending while in reach sales in on in scaling expect market over making to demand, leadership our we to to and track meet $XX
strength net semiconductor automotive and impact the EPS points flow noteworthy to the particularly headwinds. of are the to the shortage. operating basis results a chip communications achievements this XX and million from earnings The of despite shortages. $X.X billion, year-over-year industry Free generation strong production led points for XX.X%, $X.X action quarter, in XXX percent margin EPS. Gross grew the customers During supply lower Corning's by $XX to chain of XX% levels to environment for in was third and component in $X.XX. in sequentially logistical the cash impact and due other year-over-year reflect approximately increased of Delivering billion in businesses. of inflationary performance and and challenges face complex requires These year. year-over-year the the sales $X.XX our challenges with XX% in million, Sales and basis X sales are points XX optical to basis both first decisive of cash we $XXX because agility. unprecedented months grew expanded
key diversified been continue has customer’s supply quickly needs. chain act and demand. our to meet and meeting running disruption to global sense our to ability Our customer to we're well our And plants leveraging
didn't allowed I'd maintain deliver while of efforts actions remiss if supply creative be providing costs demand. third supply taking actionable to insight dynamic I Their continue and as fact, our strong we In meet mitigate management the And us same effectively while raw have teams materials, actions the to time, to to incur shipping steady additional for strategies. recognize of that us we've to customers, At they're in have our continue certain finding costs and customer the operations current elevate global enabled been environment. into we them, the to quarter. work a
cost, but increased a were resin we Therefore, prices margin muted. able is our example, For to offset temporarily portion again. elevated of significant freight
some across the these of and XXXX. and impact their increases saw price have benefit fourth we quarter, businesses. our in third quarter environment, from the into inflationary ongoing this should in We underway actions Given all accelerate
don't but remain and capabilities protecting we in situations, into improve the on digital meeting ability our customers. Now, allowing focused expanding address supply the our invest emerging real-time our demand, proactively enabled environment to visibility expect issues. to us We for margins, short-term, to chain
to quarter. we the $XXX customer moderately Now as to at to year-over-year. can during were X% glass and businesses supply glass in a third of sales Glass continues increased and meet our demand. Corning's take look XX% slightly, tight, prices we performance up display everything and sequentially, each expected. closer technology, the grew volume million be continue let's do sequentially In
quarter prices the to quarter. fourth with consistent expect third We glass be
balance discussion Now, of I pricing the XXXX. the display to about know throughout favorable, we expect to remain is a industry. glass as lot there remains Briefly, environment supply tight
Unit discussed to in With a production, our I televisions makers. in ability perspective we makers' panel panel our those retail market supply I'll on glassmakers' factors we've demand main retail in factors: said as on as previously, LCD call display Now, earnings last start about will what XXX Screen three based happen demand, average size Since and technology inches, and XX% to continue of normal from a more televisions, decrease for implying growth the size about percentage, market by mid-teen for to inches trend. volume below lot our in X down months confirmatory. was by reverse have units, average mid-teen X.X expected X.X retail smaller trend, belts, TVs inches TVS a increased trend. while the a especially data in now we percentage. year-over-year, X Since what X% on line line, -bound emerged the with July. units a smaller above TV is year, years about in in to and of growth are about and year size and inches XXXX, the units under range TV and year. about studying were a Entering inches sell-through or A global XXX grows between mainstream return. and sold LCD typically accommodate the probably In screen only XXXX, down by X.X units row. We Television people larger never declined TV trend to smaller increased XXX units of it which XX been screen size and X.X expect X working, times XXXX, growth have per with this XX% television about screen living, million, million. line to home. is the TV
being year-over-year, an quarters year, through X down TV - the and -a-half size our out. growing playing for expectation units screen inch approximately are So, and
to million follow an nd will be size range ahead will - will television will That We XXX TV screen of average and glass retail historical -a-half. XXX XXXX. within units continue to inch size a screen means units, the up. grow and trends; typical about be and think to Looking units demand
and Now, this a units in have units and remember, two TV year. year television year never year, years declined which row, are never Cup declining World a is declined have World in a Cup next
years next to most retail screen at We screen growth a in expect glass inches again glass retail expect average measured we as percentage square summary, of by driver year. feet. once in be biggest the In grow high size the to the demand Finally, XXXX, increase in single-digit in up would is size. X.X
high Now we given we After meet XXXX their of that temporarily strong would a let's move period year. now makers from told and all about the retail are lower to utilization that production you to happening seeing as panel makers. demand, panel just reducing expect. XXXX XXXX demand retail in we is And
which Like industry, move we've to operated their depleted let's the beyond and shipping, finally, glass and tight. our as meet remained the demand to glassmakers, tanks has targeted XXXX, inventories, in glass end other Now, struggled expedited life. XXXX
We this end-of-life period of latest and our rebuild utilizations lower panel technology. maker to temporarily will tanks with use shutdown them
also operating still retail of also to We expected supply actions will to revitalized panel But These take customers way XXXX. the primarily balance, balance the pricing prepared our we costs driven to to fully our [inaudible anticipated since capacity glass glass be growth throughout the shipping. will with tight rest keep high in glass forward. expedited demand fleet our have balance, glass When expect demand, in to will remain XX:XX:XX] out supply our will the XXXX. And and opportunity demand tanks. environment pricing supply Overall, all supply favorable we by assured, work of is we of throughout ramps demand. our production be improve we'll XXXX, going single-digit and QX, believe meet
raw increased billion business million Net sequentially, XX% year-over-year. significantly X% strong $XXX communications, Net XX% optical costs with $X.X X% and income saw the shipping year-over-year, we impacted and declined material sequentially. as growth profitability. up was across Moving income to sales up exceeding
enterprise performance. expand significant strong our operators the broadband along carriers quarter, for drove data center more builds, and with high, strong pace in as XG Demand capacity, capabilities, projects. network This, all-time continued the networks and investments fiber stage of infrastructure, spent an setting on is at cloud During the on access.
During the AT&T. with quarter, the announced we collaboration
capacity broadband XG expansion investments U.S. allow to accelerate Our networks, fiber will and in expand AT&T infrastructure, deployment. expand
ongoing network We growth, and as investment are well-positioned capture to significant center increases. data
improve solutions efficiency Our the capital and deployments. speed
the third end-to-end dimensions were available allows Corning up only manufacturer of year-over-year competitors. technologies, us innovate solutions, Additionally, environmental to on $XXX million, down optical our is X% X% sequentially. sales important to large-scale quarter which In and not
are sales in the shortages about fourth executing pullback the production the strong our our news impact We a period, auto-production XXXX, As below more EPS being having $X.XX, more million. XX device introduced and continues the resolved, in impact start everyone was be we've than expected constraints, million XX% base strong, and almost that end-market third for $X fourth we the meet from on sequentially, to and content an line for to specialty up driving XXXX chip are middle was global XX cover of expected for will into to our flat. grown quarter anticipate in we objective projecting the today successfully million of strong now impact in Specialty the remained production prepared unit Over on doubled we've be XX sales additional demand By estimate This of shield. And in began around quarter. a year on expect big every will delivered we third premium materials quarter industry. to of billion. because sales The the when chip XXXX X-year year. materials. in the us smartphone roughly with million. the impact $XXX continue shortages knows, At the continued quarter, demand component vehicle sold. auto component we And recover ceramic to of July, we when and demand. of is each Clearly, given and out-of-production despite sales industry growing that quarter. about good forecast
market including the innovations optics featured advanced for and wearables, robust quarter, laptops. our the that semiconductor XX net were our end smartphones, investments experience used as new devices, are manufacturer commercialization During -- the remains broader XXXX. to towards in Demand in quarter, resulted continues in also lower content in manufacturing In moving innovations in income growth. than glass strong
utilization. innovations develop the newer our cost improve, curve learning as face As and that we've process. high will we we noted manufacturing anticipate up as and before, We come profitability can scale improve
driven Glass, and Looking labs, Gorilla typical quarter, Sciences we're the to in sales demand the customer pandemic pharmaceutical strong $XXX supporting launches. build fourth vessels demand product the consumables. support the continued bio-production seeing response, and academic third Life were year-over-year, in ongoing recovery up by million diagnostic-related declines volume global flagship for into research and quarter following XX%
evidenced leadership strong over back, new outpacing building all to Our foundation businesses. industry the future for have and continues its progress leaders, key commitment innovation as with announced entered of to Corning's significant CAGR markets. X% We're categories, is strong contributed with on across years. and our Life to segment sustain and industry by our deep overall last a product advancements. across Sciences This sales We focus Stepping RD&E, X consistent is combined collaborations of industry growth. our made position the fuel we what
EPS X.XX on and is ahead to Gorilla the expected of sales, I momentum to to sales, of in As we sales of another to said, lower billion range automotive-related That be X.XX. and sales along due and the cash reduction EPS expect as and XXXX range strong launches. Core to in to both following we XXXX generation. with year expect to we growth, and Glass to strong customer our and Profitability flow, the further decline strong top with $X.X close billion bottom-line we with growth in cash out continue mentioned, look expect core $X.X sequentially QX,
rings closing and leverage and our We shareholder XXXX trends Now growth said disruptions. would the and extend true resulting pandemic to said our focused capture significant XXXX, the continue growth goals our Back key to in we windows in on expand portfolio that to our we still would global and we opportunities. I'd today. returns. outlined around said back leadership capabilities. point. we cohesive What like And for Despite converge
the all X% or CAGR Our we target. have a platforms. Since and in we're drivers out our even grown at to ahead even XXXX accelerating. key are are sales of some market the all goals XXXX, of growth intact, in ahead on laid track XX% access X%
EPS been rate because that consistent our a have expect sales, we of Now, we puts our behind at with which profitability. which actions us pressures will our impacting inflationary over and ahead growing cost time. are target target, pricing us But do puts clearly deliver significant improvement
would we is capital. said, the invested As growing our ROIC we Today, do, on total we're our return Company double-digits. in also
or capacity are ramped, enabled recent to have most sales and billion XX% Our added of we've since the expansions, them than are more like delivering as $X.X ROIC. investments, we XXXX, call build fully
free for to billion. than and $X.X XXXX XXXX be is flow Our expected generation cash aggregate more
dividend. XX% we commitment annual steadfast in in and Finally, and share increase a investing shareholders remain repurchases our to leadership, growth to excess in through cash our while extending our returning
X% last buy the As you do buybacks to of with we've stability up more ensure share back diluted in decided might repurchased shares, cash In strong flexibility we April, fully summary, our our Consistent opportunistically reserve. over Samsung years. to early several QX. and we we our building the remember, pandemic our we resumed the in built the to by where transaction, strategy position plan shares. foundation repurchases In a with of financial
our trends growth across major are capabilities relevant markets. Our to
extending we're profits, Q&A. leadership relationships With customers, Corning outstanding extending And with position, our end-markets, strategy that, flow. cash our working. very and more commitments volatile executing move sales, some is free and through Ann. and to let's Our generating
