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Mar 31, 2023
Rogers Q1 2023 Earnings Report
Improved financial performance driven by higher demand and cost actions.
Key Takeaways
Rogers Corporation reported improved financial performance for Q1 2023, driven by higher demand and cost actions. Net sales increased by 9.0% versus the prior quarter, with gross margin improving to 32.7%.
Net sales increased 9.0% versus the prior quarter, driven by higher ADAS, general industrial, and renewable energy market revenues.
Gross margin improved to 32.7% due to higher sales volumes, improved factory utilization, and lower logistics costs.
GAAP operating margin decreased to (0.1)% from 37.0% in the prior quarter, while adjusted operating margin increased to 10.5%.
GAAP earnings per diluted share were $(0.19), compared to $3.58 in the previous quarter, while adjusted earnings were $0.87 per diluted share.
Forward Guidance
The company provided financial outlook for Q2 2023.
Positive Outlook
- Net Sales ($M): $235 to $245
- Gross Margin: 33.5% to 34.5%
- Earnings Per Share: $0.65 to $0.85
- Non-GAAP Earnings Per Share: $0.95 to $1.15
Historical Earnings Impact
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Avg. Return Before/After Earnings
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