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Mar 31, 2022
Rogers Q1 2022 Earnings Report
Solid first quarter revenue growth was delivered, driven by EV/HEV, ADAS and industrial market sales, but tempered by global supply challenges and COVID impacts in China.
Key Takeaways
Rogers Corporation reported a 7.7% increase in net sales compared to the prior quarter, driven by higher EV/HEV, ADAS, and industrial market volumes. However, sales growth was tempered by COVID impacts and component shortages. GAAP earnings per diluted share were $0.87, while adjusted earnings per diluted share were $1.53.
Net sales increased by 7.7% versus the prior quarter, driven by higher EV/HEV, ADAS and industrial market volumes and commercial actions.
EMS net sales increased by 11.5% resulting from higher EV/HEV and industrial market sales and the Silicone Engineering acquisition.
AES net sales increased by 4.7% due to strong EV/HEV revenues and improved ADAS volumes, partially offset by lower wireless infrastructure revenues.
GAAP operating margin of 8.0% increased by 350 basis points from the prior quarter primarily due to the improvement in gross margin and lower SG&A expenses.
Forward Guidance
As a result of the pending acquisition, Rogers will not hold an earnings call or provide forward-looking guidance.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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