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Dec 31, 2020
Rogers Q4 2020 Earnings Report
Rogers Corporation's Q4 2020 results were driven by growth in Advanced Mobility markets and strong operational execution.
Key Takeaways
Rogers Corporation reported net sales of $210.7 million, a 4% increase versus the prior quarter. GAAP earnings per diluted share were $0.81, compared to $0.37 per diluted share in the previous quarter. The company generated strong free cash flow of approximately $40 million in the fourth quarter of 2020.
Net sales increased 4% versus the prior quarter primarily due to higher sales in the ACS and PES business units.
Gross margin was 38.3%, compared to 37.4% in the prior quarter, due to higher volumes, improved productivity and yields and operational cost savings.
GAAP operating margin of 9.5% increased by 510 basis points sequentially primarily due to the improved gross margin and lower restructuring related charges.
The Company generated strong free cash flow of approximately $40 million in the fourth quarter of 2020.
Forward Guidance
The Company is considering various recovery options and expects to resume production in S. Korea during the fourth quarter of this year. An estimate of the impact of this event is included in the first quarter financial outlook.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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