New York-based Corning Incorporated (GLW) is a global materials science and specialty glass manufacturer known for its cutting-edge innovations across various industries. With a rich history that stretches back over 170 years, the company is valued at a market cap of $35.7 billion, reflecting its prominent position across various industries.

Corning is all set to release its first-quarter earnings before the market opens on Tuesday, Apr. 29. Ahead of the event, analysts expect Corning to report a non-GAAP profit of $0.50 per share, up 31.6% from $0.38 per share reported in the year-ago quarter. The company’s earnings surprise history is solid, as it surpassed analysts’ bottom-line estimates in all of the past four quarters. 

Analysts expect Corning to deliver an adjusted EPS of $2.34 this year, up 19.4% from $1.96 in fiscal 2024. Looking ahead to FY2026, its adjusted EPS is projected to improve 18.4% annually to $2.77. 

GLW stock has soared a whopping 33.5% over the past 52 weeks, substantially outperforming the S&P 500 Index’s ($SPX) 6.6% surge and the Technology Services Select Sector SPDR ETF Fund’s (XLK) marginal decline during the same time frame.

Corning has outperformed the broader market over the past year, driven by strong demand for its fiber-optic solutions, particularly in the wake of the AI boom. Additionally, the company’s upgraded "Springboard" plan, aimed at adding $4 billion in annualized sales and achieving a 20% operating margin by 2026, has impressed investors, contributing to its stock's strong performance.

On Jan. 29, Corning delivered impressive fourth-quarter results, posting core sales of $3.9 billion, an 18% year-over-year jump, primarily fueled by a 51% revenue spike in its Optical Communications segment, driven by soaring enterprise demand and a 93% increase in sales tied to generative AI adoption. However, despite the robust results, shares of Corning slipped over 2.5% following the announcement.

The consensus opinion on GLW stock is highly bullish, with an overall “Strong Buy” rating. Out of the 11 analysts covering the stock, eight recommend “Strong Buy,” and three advise a “Hold” rating. Its mean price target of $56.25 indicates a 34.6% upside potential from current price levels.