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Sep 30, 2023
Rogers Q3 2023 Earnings Report
Rogers' Q3 2023 results were released, demonstrating improved gross margin and earnings.
Key Takeaways
Rogers Corporation reported a nearly flat net sales of $229.1 million for Q3 2023, with a gross margin of over 35%. The company saw improvements in earnings and operating cash flow, driven by strong operating performance and cost structure improvements. While global economic conditions remained challenging, the company made progress in margin, cost structure, and securing design wins.
Gross margin increased to over 35%, marking the third consecutive quarter of improvement.
Net sales were $229.1 million, nearly flat compared to the prior quarter, impacted by challenging global economic conditions and customer inventory destocking.
GAAP earnings per diluted share were $1.02, compared to $0.96 in the previous quarter.
Net cash provided by operating activities was $42.0 million.
Forward Guidance
For Q4 2023, Rogers Corporation expects net sales between $215 million and $225 million, gross margin between 34.0% and 35.0%, earnings per diluted share between $0.71 and $0.91, adjusted earnings per diluted share between $0.90 and $1.10, and capital expenditures between $55 million and $65 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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