Glassmaker Earnings – NEG, AGC and Comparison
After Corning reported its Q1’21 financial results two weeks ago, its two Japanese competitors reported last week. We review the results of NEG and AGC and compare the results of all three manufacturers.
NEG’s results beat analysts’ consensus expectations for revenues of ¥71.1B and net income of ¥3.3B. AGC benefited from strong demand in its automotive and architectural glass segments and rising prices in its chemical business segment to improved profits in Q2’21.
With financial results for the top three glassmakers, we can give a comparison of their results. Since the two Japanese companies include cover glass in their display-related business segments, it makes sense to compare the combination of Corning’s display technologies and specialty materials (Gorilla Glass) businesses.
The full article is available to subscribers of the DSCC Weekly Review, and goes into more detail on how the three main glassmakers compare on revenues and operating profits. The three companies appear to have some diverging strategies and disparate results from their display glass businesses, and Bob O'Brien is uniquely suited to analyze the display glass industry. Contact firstname.lastname@example.org if you are interested in this publication.