Ann. you, morning, Thank our we results. everyone. third quarter reported Good Today,
improved to billion expected, margin $XXX sequentially As was cash XX%, to flow $X.XX. and $X.X EPS million. expanded free Gross sales and were
gross progress improved results margin and place to and improve that flow Our quarter. in down at increase solid of end utilization as expectations inventory of on makers to we've Technologies cash demonstrate the low price initiatives inventory.
These Optical productivity Display to end as in panel programs the the put despite at quarter led in the our in coming the and while in carriers Communications volume continue draw lowered lowering
We sales, share gross of basis primarily I'll start consistent by me expansion pricing on quarter. to margin. the highlights driven Display. let in for an couple sequential point XX our actions with XX% a drove Now
are quarter we of million, down to our comprehensive the compare the margin expanded sales when gross by year, this points. plan, launched quarter yet percent of we've basis Additionally, last if year almost you third XXX fourth $XXX
the expect sequentially. to similar, quarter, we even margin sales down gross fourth be to Looking with
of lower Moving to cash on year-over-year by generation, grew sales. XX% sequentially by cash million grew million, $XXX free up $XXX and $XXX million flow
improvements as and levels CapEx driving with these levels Our run lower gross inventory ability as our to lower margin results. well are
significantly this ] to to even Now cash profit all revert to and to mean going our cycle cash make the we conversion, illustrate enable as a rate, flow [ in that progress an our expect strong cash stronger profit leads reset market and free to we and flow improved our solid ]. price at continue results levels quarter forward.
Overall, volumes to cost [ convert to
more also durable for of devices smartphone Apple devices. collaborating Shield, Plus iPhone to our first with Ceramic deliver color, continue Apple deliver cover unparalleled the back to efforts. a the leadership which These technology XX infused performance. collaborated We to on Corning also iPhone with market we and with a on material, XX feature with demonstrate by any our for smartphone, extended We progress glass
efficiency collaboration announced production curved by we Vials. the And XX%. to to technology reducing technology. AUO modules our up new of carbon recently ColdForm line Viridian yesterday, display Corning manufacturing using up large-format an improve emissions long-time accelerate also their equivalent filling We vial This announced patented just dioxide while to automotive customer expanded by can XX% with industry-leading
while content enhancing opportunities, and improving all capture right Stepping back, maintaining more Corning new market generation we're delivering on positions. products leading our the that profits, track, cash
in The weaker Optical. area be is continues the that demand, to customer problematic sales especially our carrier
price year, weak to of you last plans. the outperforming even put our sales over consecutive lower XX we've customer on for has quarters, expectations although end at the productivity So demand us and as guidance our we're hit consistently
importantly, we line well below operations More trend for our are profile. the
investments. capability capacity with have deliver in billion-plus $X cash minimal additional additional sales We to and the the
have As go. and a and will result, capabilities revenue long ready as as keep our we powerful this vibrant incrementals it to as our capacity returns,
markets. So we what ask revenue will when? relatively confident we ] of to are those profile, where ourselves that our is in And we markets? ourselves, are first we need ask versus straightforward address. trends? our our sat two then, [ the will long-term operations questions, feel we to And trends simply in as course, now win We question The And long-term broad those return?
more our build lowest-cost advancing our So we Are operations modulate at platforms? around rates. capture offerings, around let's Corning capacity our increase trends. the first, the volume superior run technology are to in We for look capabilities volume? then with and We our the And value long-term clear we markets. current staffing and opportunities trends leaders market same
volume where versus We rates of businesses. So all our run are do we each must understand our trend this for at times.
example, one just a you good give illustration. fiber as me optical Let
decade. shipments of fiber measured since see XXXX. the industry rate last annual Here, The X.X% beginning over in a shows line the trend you growth kilometers compound
has As half line operating the industry trend XXXX. you been below of can see, first in the
can for are with or real-time, what least over our bring saw you the quarters and at X. shipments a to reported quarter switch few X own shipment projecting so quarter we're to data going that we up what industry delay, Because I'm last we to
line to thing same our is has X.X% the a over the trend notice period. for First shipments XX-year CAGR
We've faster market. the been than growing
X.X% about from more in was sense makes we've shared shipments just and X dropping run rate everything in XX% more on with Currently, and CAGR trend ], quarter XXXX below of least even so X quarters at is [ basically with strategy. X. line our our shipment this Quarter our track line. and X you away Corning the Now started
optical solutions. of for is we through the portion fiber revenues. connectivity and You a can about significant our our think sales, Remember XX% to plus with that fiber our gap cabling accounts value all only our of have carrying
portfolio. sales and our cable sales, our to sales. gap drop ripples equipment trend We product in this the So fiber entire demand optical through feel
that will industry sales resume will that line. their the confident to we We're long-term our deplete inventories, believe and growth. customers We return trend as the
adds trend returning Just our to for rate revenue run Optical Communications. more XX% to than
enormous what we product fiber to in similar we just example. electronics say below them key automotive, is all use that's mean. methodology trend one see for because as consumer mean we'll of a are our long-term we're And lines, of So Right we each and long-term markets We operating a life sciences, revert lines now, mobile when gap revert display, maps, versus to an showing mean. our well lines. opportunity trend
markets, this we've win as we'll I bounce to to years. XX% our recovery a our last Now know faster? ago, back. position we more moment noted need in we as because a few we advantaged plus In position maintaining yes, our built the they for opportunities Are of revenues grow short, advancing anticipate across over leadership
as are technology producer. We well the lowest-cost leader as the
built our have on growth opportunities to our value we And Corning our approach. markets, more capitalize increasing with in more capture
fiber Let's including few remains wireless, In applications with Optical growing technology, to ascendant government the Communications, look a the unconnected. optics at connect efforts computing AI, examples. in and cloud
leadership with product on leadership and along fiber increase as We're applications, these each of our our have applications building Within new our technology revenue those North grow. market in position installed innovations will global America. per that undisputed we cost
the gasoline starting These In go and particulate automotive, leader new new we of are clear And U.S. force in in adoption effect filters. inventor XXXX. EPA regulations into regulations GPFs. market
to early see expect XXXX. sales as as We
in business In the growth even means This Corning, in this Xx global ICE adoption. more environmental significant for adds terms to in our of of BEV vehicles the X opportunity content the U.S. face
millions in BEV ] that we up also In fact, we'll built Keep reaches forecast ] opportunity is adoption successful interiors, until with us. of globally. still [ next [ being and have auto glass offers all introduction the ] new widely environmental grow platforms hundreds vehicles adopted revenue to decade. the dollars of of growth XX% [ our BEVs until which sales happen for is in not of for mind, of And
leader to been In and and technology, continue cost. quality be have the undisputed in we Display,
lowest-cost development TVs aligns for with the and to large XX.X Our in successful larger-size continued capability displays. the with technology Gen platforms move
We us Glass and Glass up continue Glass, which productivity, Automotive Ceramics to allows business. growing free serve to Gorilla assets to improve our
product systems with enter categories exterior capacity. packaging, growth, build that new In for for amounts examples pharmaceutical sales total, to continue new investment. this and automotive the to opportunity U.S. platforms $X high-autonomy a solar growing to rapidly incremental we Finally, allow glass us include reassure to minimal entirely opportunity billion-plus cash
Taken our why that's will believe recover. together, revenues we
based time wisdom this is and the of question when? next Conventional telecom trying to clear. That at improves. until in predict continue seems a us. that quarter back less smartphones, rather models our half timing question of plausible tablets than guide visibility display, to The to XXXX. recovery, customer we'll second is in the semiconductor, notebooks order demand answer entry one But the on bounces The to is,
we our productivity all minimal price look This maintain for We'll our price, programs the ability billion-plus performance shareholders profitability represents cost continue opportunity while purpose our platform And on to I improve term put, near and how cash deliver to is outlook. have throughout that we're both so profitability with This this significant to investments. progress. cash will near-term to this providing importantly, and and you sales flow. to in continue we cash way powerful reverts more powerful improve a and serves of a our muted This period. cycle, profitability $X flow enhanced trend.
Simply that forward down and our despite volume for updating improve the providing sales better through our and another incrementals cost, such as springboard we steering our this
we outlook. the over turn I'll results to call into the so details get of our can Ed, and Now
