Loading...
•
Jun 30, 2023
Rogers Q2 2023 Earnings Report
Rogers reported Q2 2023 results, with operating performance driving continued margin and earnings improvement.
Key Takeaways
Rogers Corporation reported Q2 2023 results with net sales of $230.8 million and GAAP earnings per diluted share of $0.96. The company's gross margin improved to 34.5% and the adjusted operating margin increased to 13.4%.
Net sales decreased by 5.3% versus the prior quarter, resulting from lower sales in both the AES and EMS business units.
Gross margin improved to 34.5% compared to 32.7% in the prior quarter due to improved factory productivity, lower material costs, a decrease in logistics costs and favorable product mix.
GAAP operating margin increased to 12.1% from (0.1)% in the prior quarter.
Ending cash and cash equivalents were $141.5 million, a decrease of $52.3 million versus the prior quarter.
Revenue by Segment
Forward Guidance
For Q3 2023, Rogers expects net sales between $230 million and $240 million, gross margin between 34.0% and 35.0%, and adjusted earnings per diluted share between $1.05 and $1.25. Capital expenditures for 2023 are expected to be between $65 million and $75 million.
Positive Outlook
- Net Sales ($M): $230 to $240
- Gross Margin: 34.0% to 35.0%
- Earnings Per Diluted Share: $1.20 to $1.40
- Adjusted Earnings Per Diluted Share: $1.05 to $1.25
Revenue & Expenses
Visualization of income flow from segment revenue to net income
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...