Tuesday, Corning Inc. (GLW), a manufacturer of specialty glass products, raised its forecast for the second quarter sequential LCD glass volume sales, citing significant improvement in demand for LCD glass. The company also said that it expects its third-quarter LCD glass shipments to be consistent with the improved second-quarter guidance.
Chief Financial Officer James Flaws said, "Second-quarter glass demand is much stronger than we anticipated even a few weeks ago. As a result, we now expect second-quarter sequential volume to be up approximately 100% at our wholly owned business."
The revision comes on top of the company's original forecast of a volume increase of more than 50%, which was revised at the end of May to more than 75%. Flaw said much of the improved demand was met by drawing down its existing inventory.
Corning said Samsung Corning Precision Glass Co. Ltd. (SCP) second-quarter sequential glass volume is expected to be up about 50%, an increase from both the more than 40% figure announced May 28 and the original expectation of more than 25% growth.
Regarding LCD glass pricing, Flaws noted that second-quarter prices were moderate and substantially below the first-quarter price decline.
The company said continued retail demand for LCD televisions is helping to prevent excessive buildup of inventory in the supply chain. Citing various industry reports Flaws said April LCD TV unit sales increased 22% in Europe, and 77% in China. In May, LCD TV sales were up 48% in Japan.
"While retail LCD TV sales growth in the United States had slowed somewhat in April after a very strong first quarter, reports that we have received indicate a significant upward spike in domestic LCD TV sales in late May and the first three weeks of June," Flaws noted.
Looking forward, Corning expects third-quarter LCD glass shipments to be consistent with the improved second-quarter forecast. The company looks ahead for capacity constrain in the third quarter and it is prioritizing its glass allocation to its long-term supply agreement customers.
The company anticipates third-quarter glass pricing at its wholly owned business and SCP to be approximately flat compared to the second quarter.
"It is far too soon to forecast fourth-quarter performance," Flaws said, "but if retail demand for LCD TVs continues to be stronger than forecasted, we could see a more muted seasonal decline for LCD glass demand."
Corning continues to expect that the global LCD glass market will be between 2.1 billion and 2.2 billion square feet this year. Given the strong demand for LCD TV, there could be an upside to this forecast, the company said.
Corning plans to release its second-quarter financial results on July 27.
GLW is currently up $0.03 or 0.25% and trades at $16.31.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.