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Dec 31, 2023
Rogers Q4 2023 Earnings Report
Rogers Corporation's financial performance decreased due to macroeconomic headwinds and inventory destocking, but was partially offset by cost improvements.
Key Takeaways
Rogers Corporation reported a decrease in net sales and adjusted operating margin for Q4 2023, impacted by macroeconomic headwinds and customer inventory destocking. While cost improvements were made, they were offset by lower sales volumes, especially in industrial and portable electronics markets. The company anticipates continued challenges in the first quarter but expects some improvement mid-year.
Net sales decreased by 10.7% compared to the prior quarter, driven by lower sales in both AES and EMS business units.
Gross margin decreased to 32.9% due to lower sales volume and factory throughput, partially offset by procurement cost savings.
GAAP operating margin increased to 14.9% due to an insurance recovery, while adjusted operating margin decreased to 6.3%.
GAAP earnings per diluted share were $1.24, while adjusted earnings per diluted share were $0.60.
Revenue by Segment
Forward Guidance
For Q1 2024, Rogers Corporation anticipates net sales between $205 million and $215 million, gross margin between 32.0% and 33.0%, earnings per diluted share between $0.30 and $0.50, and adjusted earnings per diluted share between $0.45 and $0.65. Capital expenditures for 2024 are expected to be between $70 million and $80 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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