Rogers Corp

ROG

Equity

ISIN US7751331015 / Valor 967121

New York Stock Exchange, Inc (2025-03-11)

USD 76.08+0.74%

Rogers Corp
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About company

Rogers Corporation is a global leader in the development and manufacture of advanced materials and components that facilitate innovation and enhance reliability, efficiency, and performance across various specialty applications. The company's product portfolio is diverse, including the Elastomer Components Division, which produces NITROPHYL® Floats and ENDUR® Components, primarily out of its manufacturing headquarters in Suzhou. Additionally, Rogers offers Elastomeric Material Solutions tailored for a range of uses, from ultra-thin protective layers for sensitive electronics to robust gasketing solutions for the automotive industry. As a prominent supplier of advanced materials for the automotive sector, Rogers Corporation provides a broad spectrum of solutions designed to power, protect, and connect vehicles. With over 190 years of expertise in materials science and process engineering, the company prides itself on its commitment to delivering market-focused innovations and exceptional value, aiming to support the success of its customers worldwide. Rogers Corporation's approach is characterized by its dedication to mission-critical reliability, innovation tailored to market needs, and a passion for delivering outstanding value.

Summarized from source with an LLMView SourceSector: Technology

Revenue Decline

Rogers Corp's net sales for the fourth quarter of 2023 were $204.6 million, representing a 10.7% decrease from the previous quarter. This decline was primarily due to lower sales in the Advanced Electronics Solutions (AES) and Elastomeric Material Solutions (EMS) business units. The company faced challenges in the industrial and portable electronics markets, which contributed to the reduced sales volume.

Profitability Metrics

In the fourth quarter of 2023, Rogers Corp reported a gross margin of 32.9%, down from 35.1% in the prior quarter. The decrease in gross margin was attributed to lower sales volume and factory throughput, despite procurement cost savings. The GAAP operating margin improved to 14.9% from 11.8% in the previous quarter, mainly due to an increase in other operating income, including a $24.0 million insurance recovery.

Earnings Per Share

Rogers Corp's GAAP earnings per diluted share for the fourth quarter of 2023 were $1.24, an increase from $1.02 in the previous quarter. This improvement was driven by higher operating income and lower tax expenses. On an adjusted basis, earnings per diluted share were $0.60, compared to $1.24 in the prior quarter, reflecting the impact of lower gross margins and higher SG&A expenses.

Cash Flow and Liquidity

At the end of the fourth quarter of 2023, Rogers Corp had cash and cash equivalents totaling $131.7 million, marking an increase of $5.2 million from the previous quarter. The company generated $71.9 million in net cash from operating activities during the quarter. Capital expenditures amounted to $22.5 million, and a principal payment of $50 million was made on the company's revolving credit facility.

Financial Outlook

For the first quarter of 2024, Rogers Corp anticipates net sales in the range of $205 to $215 million, with a gross margin between 32.0% and 33.0%. The company expects earnings per diluted share to be between $0.30 and $0.50, with adjusted earnings per diluted share ranging from $0.45 to $0.65. Rogers Corp has extended its financial targets beyond 2025 due to ongoing challenges in the global manufacturing economy and uncertainties in the electric vehicle market.

Summarized from source with an LLMView Source

Key figures

-35.4%1Y

-72.1%3Y

-23.7%5Y

Performance

32.5%1Y

45.0%3Y

47.8%5Y

Volatility