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Jun 30, 2021
Rogers Q2 2021 Earnings Report
Rogers Corporation's financial performance improved in Q2 2021, driven by growth in EV and strategic markets, but tempered by supply chain challenges.
Key Takeaways
Rogers Corporation reported a 2.5% increase in net sales to $234.9 million, driven by strong demand in EV/HEV and other strategic markets. However, supply chain challenges impacted gross margin and earnings, resulting in a decrease in GAAP earnings per diluted share to $1.52.
Net sales increased by 2.5% compared to the prior quarter, reaching $234.9 million due to higher sales in the AES business unit.
GAAP earnings per diluted share decreased to $1.52, compared to $1.66 in the previous quarter, primarily due to lower operating income.
Free cash flow was $11.9 million for the quarter.
Global supply chain challenges impacted the second quarter results more than anticipated, affecting margins and earnings.
Forward Guidance
The company provided financial outlook for Q3 2021, expecting net sales between $235 million and $245 million, and adjusted earnings per share between $1.70 and $1.85.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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