Corning
34 named things its latest annual report says its results depend on, each in the company's own words. 14 of them are also named by other companies we've read.
Customers
Optical Communications top 2 end customers
concentrated in · 28%named as a riskA relatively small number of end customers account for a high percentage of our net sales in each of our business segments.Risk factors (Item 1A)
Display top 3 end customers
concentrated in · 59%named as a riskA relatively small number of end customers account for a high percentage of our net sales in each of our business segments.Risk factors (Item 1A)
Automotive top 3 end customers
concentrated in · 61%named as a riskA relatively small number of end customers account for a high percentage of our net sales in each of our business segments.Risk factors (Item 1A)
Specialty Materials top 2 end customers
concentrated in · 43%named as a riskA relatively small number of end customers account for a high percentage of our net sales in each of our business segments.Risk factors (Item 1A)
Life Sciences top 2 end customers
concentrated in · 45%named as a riskA relatively small number of end customers account for a high percentage of our net sales in each of our business segments.Risk factors (Item 1A)
Hyperscale data centers
earns from · 38% of Corning’s total segment net sales in 2025named as a riskFurther, the optical communications business faces risks related to fluctuations in telecommunication and hyperscale data center capital spending, which may negatively affect the demand for our products and have a material adverse impact on our financial results.Risk factors (Item 1A)
Suppliers
Sole-source suppliers of key materials and equipment
depends onnamed as a riskCertain key materials and proprietary equipment used in the manufacturing of products are currently sole-sourced or available only from a limited number of suppliers.Business (Item 1)
Other companies
Hemlock Semiconductor Group (HSG)
earns from · 9% of Corning’s total segment net sales in 2025This group is primarily comprised of the results of Hemlock Semiconductor Group (“HSG”).Business (Item 1)
Competitors
Thermo Fisher Scientific Inc.
competes withOur principal competitors include Thermo Fisher Scientific Inc., Avantor, Inc., Greiner AG, Eppendorf SE, Sarstedt AG & Co. KG and Danaher Corporation.Business (Item 1)
AGC Inc.
competes withOur principal competitors include AGC Inc. and Nippon Electric Glass Co., Ltd.Business (Item 1)
Nippon Electric Glass Co., Ltd.
competes withOur principal competitors include AGC Inc. and Nippon Electric Glass Co., Ltd.Business (Item 1)
Prysmian Group S.p.A.
competes withOur principal competitors include Amphenol, Fujikura and their subsidiary America Fujikura Ltd., Sumitomo and Prysmian Group S.p.A.Business (Item 1)
NGK Insulators, Ltd.
competes withOur principal competitors include NGK Insulators, Ltd., Ibiden Co., Ltd., AGC Inc. and LENS.Business (Item 1)
Schott AG
competes withOur principal competitors include Schott AG, AGC Inc., Nippon Electric Glass Co., Ltd., Heraeus and JENOPTIK Industrial Metrology Germany GmbH.Business (Item 1)
Places
Asia Pacific
concentrated innamed as a riskGiven the geographical concentration of certain of the Company’s and our contract manufacturers’ plants in Asia Pacific, the highly engineered nature of the facilities and the globally dispersed talent required to run these facilities, any event that adversely affects or restricts movement into or out of a specific geographic area where we, our contract manufacturers, suppliers, or customers have a presence, could adversely impact our results.Risk factors (Item 1A)
Also named by AIG, AVY, BLK, BNY, CCK, CL, COHR, DCI and 17 more
China
operates inWe have display glass manufacturing operations in China, South Korea and Taiwan, and service our glass customers in all regions, utilizing our manufacturing facilities throughout Asia.Business (Item 1)
Also named by A, AA, AAOI, AAP, AAPL, AB, ADI, AEHR and 261 more
Taiwan
operates inWe have display glass manufacturing operations in China, South Korea and Taiwan, and service our glass customers in all regions, utilizing our manufacturing facilities throughout Asia.Business (Item 1)
Also named by AAOI, AAPL, AB, ADI, AEHR, ALAB, AMAT, AMD and 50 more
New York
operates inOur semiconductor optics products are manufactured in New York.Business (Item 1)
Also named by ABR, AXP, BJ, BPOP, BRO, BWA, CHE, CINF and 12 more
Hazards
Earthquakes and typhoons
operates innamed as a riskDue to the specialized nature of our products and single-site manufacturing locations, in the event such a location experiences disruption, it may not be possible to find replacement capacity or substitute production from other facilities.Risk factors (Item 1A)
Commodities and inputs
Japanese yen
exposed to its price · $0.4 billionnamed as a riskA significant portion of our non-U.S. revenue is denominated in Japanese yen.Market risk (Item 7A)
Also named by ABBV, ABT, ACN, ADBE, ALK, AMAT, AMKR, BMY and 24 more
Foreign currency exchange rates (yen, won, yuan, NT dollar, peso, euro)
exposed to its price · $1.0 billionnamed as a riskOur most significant foreign currency exposure relates to the Japanese yen, South Korean won, Chinese yuan, New Taiwan dollar, Mexican peso and euro.Market risk (Item 7A)
Also named by ADP, AMT, CPAY, DPZ, DVA, HLIO, LNN, PFG and 1 more
Precious metals
depends onnamed as a riskOur manufacturing processes and products require access to uninterrupted power sources, significant quantities of industrial water, certain precious metals and various batch materials.Business (Item 1)
Semiconductor components
depends onnamed as a riskA worldwide shortage of semiconductor components or other issues;Risk factors (Item 1A)
Also named by AEHR
Industrial water
depends onnamed as a riskCorning’s business relies on the timely supply of raw materials, precious metals, natural resources or utilities including energy and industrial water, equipment, parts and components, services and related products to meet the changing technical and volume requirements of its customers, which depends in part on the timely delivery of materials, equipment and services, from suppliers and contract manufacturers.Risk factors (Item 1A)
Lithium and helium
depends onAvailability of resources, such as ores, minerals, polymers, lithium, helium and processed chemicals, required in our manufacturing operations appear to be adequate.Business (Item 1)
Regulators
U.S. Federal Trade Commission
subject tonamed as a riskOur products and operations are also subject to regulation by U.S. and non‐U.S. regulatory agencies, such as the U.S. Federal Trade Commission.Risk factors (Item 1A)
Also named by AMZN, AN, AVGO, BJ, CART, CELH, CHD, CHE and 56 more
Bureau of Industry and Security
subject tonamed as a riskDue to the international scope of our operations, we are subject to a complex system of import- and export-related laws and regulations, including U.S. regulations issued by Customs and Border Protection, the Bureau of Industry and Security, the Office of Anti-boycott Compliance, the Directorate of Defense Trade Controls and the Office of Foreign Assets Control, as well as the counterparts of these agencies in other countries.Risk factors (Item 1A)
Also named by AAOI, AMD, APH, CRWV, EXTR, GTLB, LITE, MTSI and 5 more
Laws and programs
Pollution-control regulations
subject to · $18.9 million in 2026To maintain compliance with such regulations, capital expenditures for pollution control in operations were approximately $7.9 million in 2025 and are estimated to be $18.9 million in 2026.Business (Item 1)
U.S.-China trade restrictions
subject tonamed as a riskNatural disasters, the impacts of climate change, or other events beyond Corning’s control (such as earthquakes, utility interruptions, tsunamis, hurricanes, typhoons, floods, storms or extreme weather conditions, fires, regional economic downturns, regional or global health crisis events, geopolitical turmoil, increased trade restrictions between the U.S. and China and other countries, social unrest, political instability, terrorism, or acts of war) in locations where it or its customers or suppliers have manufacturing, research, engineering or other operations.Risk factors (Item 1A)
Solar manufacturing tax incentives
subject tonamed as a riskIn connection with our recent entry into the solar industry, we face risks specific to this sector, such as dependence on government manufacturing tax incentives, exposure to policy and regulatory changes, and complexities in sourcing specialized components.Risk factors (Item 1A)
Emissions control regulations
subject toAs global emissions control regulations tighten, we have continued to develop more effective and durable ceramic substrate and filter products for gasoline and diesel applications, most recently launching low-mass Corning® FLORA® substrates and Corning® DuraTrap® GC gasoline particulate filters.Business (Item 1)