Rogers Corporation (NYSE:ROG) Q4 2022 Results Conference Call February 28, 2023 5:00 PM ET Company Participants Steve Haymore - Director, Investor Relations Colin Gouveia - President and CEO Ram Mayampurath - Senior Vice President and Chief Financial Officer Conference Call Participants Daniel Moore - CJS Securities Craig Ellis - B. Riley Securities Operator Good afternoon. My name is Diego and I will be your conference operator today. At this time, I would like to welcome everyone to the Rogers Corporation ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________________ FORM 10-Q _______________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to _______________ Commission file number 1-4347 _______________________________ ROGE ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________________ FORM 10-Q _______________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to _______________ Commission file number 1-4347 _______________________________ ROGERS CO ...

[Part I – Financial Information](index=3&type=section&id=Part%20I%20%E2%80%93%20Financial%20Information) [Item 1. Condensed Consolidated Financial Statements (Unaudited)](index=3&type=section&id=Item%201.%20Condensed%20Consolidated%20Financial%20Statements%20(Unaudited)) Unaudited condensed consolidated financial statements for Q1 2022 show net sales increased to **$248.3 million** from **$229.3 million** YoY, but net income decreased to **$16.6 million** from **$31.2 million**, with operating cash flow turning negative Condensed Consolidated Statements of Operations Highlights | Metric (in thousands, except per share amounts) | Three Months Ended March 31, 2022 | Three Months Ended March 31, 2021 | | :--- | :--- | :--- | | Net sales | $248,266 | $229,265 | | Gross margin | $85,394 | $89,499 | | Operating income | $19,891 | $37,193 | | Net income | $16,600 | $31,218 | | Diluted earnings per share | $0.87 | $1.66 | Condensed Consolidated Statements of Financial Position Highlights | Metric (in thousands) | March 31, 2022 | December 31, 2021 | | :--- | :--- | :--- | | Cash and cash equivalents | $182,144 | $232,296 | | Inventories | $152,150 | $133,384 | | Total assets | $1,593,262 | $1,598,566 | | Borrowings under revolving credit facility | $190,000 | $190,000 | | Total liabilities | $475,784 | $479,671 | | Total shareholders' equity | $1,117,478 | $1,118,895 | Condensed Consolidated Statements of Cash Flows Highlights | Metric (in thousands) | Three Months Ended March 31, 2022 | Three Months Ended March 31, 2021 | | :--- | :--- | :--- | | Net cash (used in) provided by operating activities | $(13,723) | $36,521 | | Net cash used in investing activities | $(25,987) | $(3,602) | | Net cash used in financing activities | $(9,694) | $(23,181) | | Net (decrease) increase in cash and cash equivalents | $(50,152) | $7,324 | [Notes to Condensed Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Notes detail key accounting policies and events, including derivative contracts, asbestos liabilities, the acquisition of Silicone Engineering Ltd., the DuPont merger agreement, and a decreased effective tax rate - The company uses foreign currency forward contracts and copper derivative contracts to mitigate transactional and commodity price risks. These contracts do not qualify for hedge accounting, and fair value adjustments are recorded in 'Other income (expense), net'[25](index=25&type=chunk)[27](index=27&type=chunk)[30](index=30&type=chunk) - As of March 31, 2022, the company had an asbestos-related liability of **$68.1 million** and a corresponding insurance receivable of **$62.6 million**. The company has never manufactured asbestos but used it in some products until the late 1980s[72](index=72&type=chunk)[74](index=74&type=chunk)[78](index=78&type=chunk) - The effective income tax rate for Q1 2022 was **18.5%**, a decrease from **25.2%** in Q1 2021, primarily due to a decrease in accruals for uncertain tax positions and increased windfall tax benefits from stock compensation[80](index=80&type=chunk) - On October 8, 2021, the company acquired Silicone Engineering Ltd. for **$172.3 million** to expand its advanced silicones platform in Europe, funded by borrowings under the existing credit facility[97](index=97&type=chunk) - On November 1, 2021, Rogers entered into a definitive merger agreement to be acquired by DuPont for **$277.00 per share** in an all-cash transaction, expected to close in late Q2 or early Q3 2022 pending regulatory approvals[100](index=100&type=chunk)[112](index=112&type=chunk) [Management's Discussion and Analysis of Results of Operations and Financial Position](index=23&type=section&id=Management%27s%20Discussion%20and%20Analysis%20of%20Results%20of%20Operations%20and%20Financial%20Position) Management discusses an **8.3%** increase in Q1 2022 net sales to **$248.3 million**, but a significant gross margin decline to **34.4%** and a sharp drop in operating income due to merger expenses and supply chain issues - The company's growth strategy is centered on being a market-driven organization focused on advanced mobility (EV/HEV, ADAS) and advanced connectivity (5G smartphones)[107](index=107&type=chunk) - The company sees an opportunity to double annual revenues over the next five years, supported by strong growth in markets like EV/HEV (projected **>25% CAGR**) and ADAS (projected **>15% CAGR**)[110](index=110&type=chunk) - In Q1 2022, the company incurred **$11.5 million** in expenses related to the DuPont merger, primarily for a discretionary RESIP contribution, professional services, and retention awards[116](index=116&type=chunk) - Recent COVID-19 lockdowns in Shanghai and Suzhou, China, have not disrupted manufacturing but are causing logistics challenges[114](index=114&type=chunk) [Results of Operations](index=27&type=section&id=MD%26A_Results_of_Operations) Q1 2022 net sales rose **8.3%** to **$248.3 million**, driven by EMS, but gross margin fell **460 basis points** to **34.4%** and operating income dropped significantly due to higher costs and merger-related expenses Net Sales and Gross Margin Comparison | Metric (in thousands) | Q1 2022 | Q1 2021 | Change | | :--- | :--- | :--- | :--- | | Net Sales | $248,266 | $229,265 | +8.3% | | Gross Margin | $85,394 | $89,499 | -4.6% | | Gross Margin % | 34.4% | 39.0% | -460 bps | - Gross margin was unfavorably impacted by poor yield performance, higher fixed overhead, and increased freight/duties/tariffs, partially offset by favorable commercial actions and higher volume[119](index=119&type=chunk) - SG&A expenses increased **36.1%** YoY, primarily due to a **$9.1 million** increase in compensation and benefits (including a **$6.5 million** discretionary RESIP contribution for the DuPont merger) and a **$4.4 million** increase in professional services (**$2.8 million** related to the merger)[122](index=122&type=chunk)[123](index=123&type=chunk) Operating Segment Performance (Q1 2022 vs Q1 2021) | Segment | Q1 2022 Net Sales (in millions) | Q1 2021 Net Sales (in millions) | % Change | Q1 2022 Operating Income (in millions) | Q1 2021 Operating Income (in millions) | % Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | AES | $133.2 | $131.9 | +1.0% | $1.3 | $14.8 | -91.2% | | EMS | $110.2 | $91.8 | +20.0% | $17.0 | $20.1 | -15.3% | | Other | $4.9 | $5.5 | -11.8% | $1.6 | $2.3 | -29.9% | [Liquidity, Capital Resources and Financial Position](index=30&type=section&id=MD%26A_Liquidity_Capital_Resources) The company ended Q1 2022 with **$182.1 million** in cash, a **$50.2 million** decrease driven by negative operating cash flow and capital expenditures, with projected 2022 capital spending of **$155.0 million** to **$165.0 million** - Cash and cash equivalents decreased by **$50.2 million** during the quarter to **$182.1 million** as of March 31, 2022[144](index=144&type=chunk) - Approximately **$122.6 million (67%)** of cash and cash equivalents were held by non-U.S. subsidiaries as of March 31, 2022[142](index=142&type=chunk) - Expected capital spending for 2022 is in the range of **$155.0 million** to **$165.0 million**[145](index=145&type=chunk) - The merger agreement with DuPont restricts the company from paying dividends to shareholders without DuPont's prior approval[147](index=147&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=33&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) No material changes occurred in the company's market risk exposure during the first quarter of 2022 - There were no material changes in the company's market risk exposure during the first quarter of 2022[151](index=151&type=chunk) [Item 4. Controls and Procedures](index=33&type=section&id=Item%204.%20Controls%20and%20Procedures) Disclosure controls and procedures were effective as of March 31, 2022, with no material changes in internal control over financial reporting during the quarter - The Chief Executive Officer and Chief Financial Officer concluded that the company's disclosure controls and procedures were effective as of March 31, 2022[152](index=152&type=chunk) - No changes occurred in the company's internal control over financial reporting during the most recently completed fiscal quarter that have materially affected, or are reasonably likely to materially affect, these controls[153](index=153&type=chunk) [Part II – Other Information](index=34&type=section&id=Part%20II%20%E2%80%93%20Other%20Information) [Item 6. Exhibits](index=34&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the Form 10-Q, including corporate governance documents and CEO/CFO certifications - The report includes CEO and CFO certifications as required by Sections 302 and 906 of the Sarbanes-Oxley Act of 2002[156](index=156&type=chunk)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________________ FORM 10-K _______________________________ ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 1-4347 _______________________________ ROGERS CORPORATION (Exact name of registrant as specified in its charter) _____ ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________________ FORM 10-Q _______________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 (Exact Name of Registrant as Specified in its Charter) _______________________________ or Massachusetts 06-0513860 Incorporation or Organization) ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE A ...

1 Q3 2021 Earnings Supplemental Materials Nov 2nd, 2021 Forward-looking statements 2 Safe Harbor Statement Statements included in this presentation that are not a description of historical facts are forward-looking statements. Words or phrases such as "believe," "may," "could," "will," "estimate," "continue," "anticipate," "intend," "seek," "plan," "expect," "should," "would" or similar expressions are intended to identify forward-looking statements, and are based on Rogers' current beliefs and expectations ...

Rogers Corporation (NYSE:ROG) Q2 2021 Results Conference Call July 29, 2021 5:00 PM ET Company Participants Steve Haymore - Director, Investor Relations Bruce Hoechner - President and CEO Ram Mayampurath - Senior Vice President and Chief Financial Officer Bob Daigle - Senior Vice President and CTO Conference Call Participants Daniel Moore - CJS Securities Jed Dorsheimer - Canaccord Genuity Craig Ellis - B. Riley Securities Patrick Ho - Stifel Josh Silverstein - Wolfe Research Operator Good day. My name is T ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________________ FORM 10-Q _______________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to _______________ Commission file number 1-4347 _______________________________ ROGERS CO ...

Rogers Corporation (NYSE:ROG) Q1 2021 Earnings Conference Call April 29, 2021 5:00 PM ET Company Participants Steve Haymore - Director, Investor Relations Bruce Hoechner - President and CEO Mike Ludwig - Senior Vice President and CFO Bob Daigle - Senior Vice President and CTO Ram Mayampurath - Chief Financial Officer Conference Call Participants Craig Ellis - B. Riley Securities Daniel Moore - CJS Securities Operator Good day. My name is Cody, and I’ll be your conference operator today. At this time, I woul ...