By Michael Dabaie

Corning Inc. (GLW) said Friday it expects 6% to 8% compound annual sales growth from 2020 to 2023, primarily driven by organic growth in its market-access platforms.

Shares rose 2% premarket to $31.93.

The specialty glass and ceramics company set a goal of 12% to 15% compound annual per-share earnings growth, reflecting increased sales, improved operating margin, and continued share repurchases.

Corning said it expects $16 billion to $18 billion in total operating cash flow before research, development, and engineering from 2020 to 2023, up from the $13 billion expected from 2016 to 2019. Corning said it plans to invest $10 billion to $12 billion in RD&E, capital and mergers and acquisitions.

Corning said it is targeting shareholder distributions of $8 billion to $10 billion, including 10% in annual dividend increases.

Write to Michael Dabaie at michael.dabaie@wsj.com

(END) Dow Jones Newswires

June 14, 2019 09:32 ET (13:32 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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