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Sep 30, 2024
Rogers Q3 2024 Earnings Report
Rogers' Q3 2024 earnings exceeded guidance expectations, driven by operational improvements and product mix, despite sales falling below outlook due to softer EV/HEV demand and lower portable electronics sales.
Key Takeaways
Rogers Corporation reported mixed Q3 2024 results with earnings exceeding expectations due to operational improvements and careful expense management, while sales were below outlook due to softer EV/HEV demand and a lower seasonal peak in portable electronics sales. The company continues to execute its focused strategy, including the opening of a new power substrate factory in China.
Net sales decreased by 1.8% versus the prior quarter, driven by lower sales in AES and EMS business units.
Gross margin increased to 35.2% from 34.1% in the prior quarter, primarily from favorable product mix.
GAAP operating margin increased to 6.9% from 5.3% in the prior quarter, due to improved gross margin and lower SG&A expenses.
Ending cash and cash equivalents were $146.4 million, an increase of $26.5 million versus the prior quarter.
Revenue by Segment
Forward Guidance
For Q4 2024, Rogers Corporation expects net sales between $185 million and $200 million, gross margin between 31.5% and 33.0%, GAAP earnings per diluted share between $(0.15) and $0.15, and adjusted earnings per diluted share between $0.30 and $0.60. Capital expenditures for 2024 are projected to be between $50 million and $60 million.
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
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