Loading...
•
Mar 31, 2024
Rogers Q1 2024 Earnings Report
Rogers reported Q1 2024 results, with sales and EPS exceeding the midpoint of guidance as the outlook improved.
Key Takeaways
Rogers Corporation reported a 4.3% increase in net sales compared to the previous quarter, driven by higher sales in both AES and EMS business units. The company's GAAP earnings per diluted share were $0.42, while adjusted earnings per diluted share were $0.58. The company is seeing improving demand and expects overall sales to improve in coming quarters.
Net sales increased by 4.3% compared to the prior quarter, reaching $213.4 million.
Aerospace and defense sales were strong, and the outlook for the general industrial market is improving.
GAAP earnings per diluted share were $0.42, while adjusted earnings per diluted share were $0.58.
The company is focused on driving improved profitability and cash flow.
Forward Guidance
For Q2 2024, Rogers Corporation expects net sales between $210 million and $220 million, gross margin between 32.5% and 33.5%, GAAP earnings per diluted share between $0.34 and $0.54, and adjusted earnings per diluted share between $0.50 and $0.70. Capital expenditures for 2024 are expected to be between $60 million and $70 million.
Positive Outlook
- Net Sales: $210 to $220 million
- Gross Margin: 32.5% to 33.5%
- Earnings Per Diluted Share: $0.34 to $0.54
- Adjusted Earnings Per Diluted Share: $0.50 to $0.70
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...