Rogers Corporation Reports First Quarter 2024 Results Q1 Sales And EPS Exceed Mid-Point Of Guidance As Outlook Improves Chandler, Arizona, April 25, 2024: Rogers Corporation (NYSE:ROG) today announced financial results for the first quarter of 2024. "We are encouraged by the improving demand that we saw in the first quarter, which resulted in sales near the top end of our guidance expectations," stated Colin Gouveia, Rogers' President and CEO. "Aerospace and defense sales were strong in the first quarter an ...

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, 2023 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 CORPOR ...

Financial Data and Key Metrics Changes - Adjusted EBITDA margin was 16.3% in 2023, roughly in line with the prior year, while adjusted EPS decreased to $3.78 from $4.91 in 2022 [1] - Full year sales were $908 million, a decrease of 6.5% from the prior year, with gross margins increasing by approximately 75 basis points to 33.8% [100] Business Line Data and Key Metrics Changes - Net sales in Q4 were $205 million, declining 11% from the prior quarter due to lower volume and unfavorable foreign currency fluctuations [2] - EMS revenue decreased by 14.9% to $83 million, driven by lower portable electronics and general industrial sales, despite higher EV/HEV sales [3] - Sales in the aerospace and defense, industrial, and renewable energy markets decreased, while EV/HEV sales saw a slight increase [3] Market Data and Key Metrics Changes - The ongoing contraction in global manufacturing activity has significantly impacted the general industrial market, which comprises much of the company's core business [79] - The portable electronics market is expected to see some recovery in 2024, but the medium-term outlook remains muted due to consumers keeping existing phones longer [17] - The wireless infrastructure market is projected to decline due to weaker than anticipated 5G station rollout [17] Company Strategy and Development Direction - The company is focused on cost management while advancing growth strategies, including securing design wins and investing in capacity [80] - The timeline to achieve financial targets has been extended beyond 2025 due to persistent challenges in the global manufacturing economy and lack of visibility in the EV market [81] - The company remains committed to its strategy for sustainable growth and long-term shareholder value, particularly in the EV/HEV market [18] Management's Comments on Operating Environment and Future Outlook - Management believes they are near the bottom of the cycle and may begin to see some recovery in mid-2024 [79] - There is a consensus that the inventory hangover from the COVID snapback will normalize around mid-year [36] - The company anticipates Q1 2024 to be the low point of sales for the year, with expectations for improvement in the second half [12][34] Other Important Information - Ending cash at December 31 was approximately $132 million, a decrease of $104 million from the end of 2022, but an increase of $5 million from the end of Q3 2023 [7] - The company generated strong operating cash flow of $72 million in Q4 and $131 million for the full year, allowing for capital investments and debt repayments [7] Q&A Session Summary Question: What gives confidence that Q1 will be the low point for the year? - Management indicated that cost improvements and margin traction achieved in the first three quarters are expected to remain, and they anticipate a recovery in the second half of the year [32][34] Question: How is inventory positioned in the EV and HEV segment compared to other areas? - Management noted that while there are still inventory challenges in some areas, the EV/HEV segment has shown improvement, indicating better inventory positioning [40][47] Question: What is the pipeline of opportunities in the industrial segment? - Management highlighted several end markets within the general industrial segment where they have secured design wins and expressed confidence in returning to GDP-plus growth over the next 12 to 24 months [54][56] Question: Are there additional cost reduction actions prepared if demand does not improve? - Management stated that while they are optimistic about recovery, they have plans for additional cost reductions if necessary, including maintaining control over discretionary spending [60][62]

Rogers Corporation Reports Fourth Quarter and Full Year 2023 Results 1 - A reconciliation of GAAP to non-GAAP measures is provided in the schedules included below 1 Q4 2023 Summary of Results Net sales of $204.6 million decreased 10.7% versus the prior quarter resulting from lower sales in the AES and EMS business units. AES net sales decreased by 7.2% primarily related to lower aerospace and defense (A&D), renewable energy sales, partially offset by higher EV/HEV sales. EMS net sales decreased by 14.9% pri ...

Rogers Corporation (NYSE:ROG) Q3 2023 Earnings Conference Call October 26, 2023 5:00 PM ET Company Participants Steve Haymore - Director of Investor Relations Colin Gouveia - President and CEO Ram Mayampurath - Senior Vice President and CFO Conference Call Participants Daniel Moore - CJS Securities Craig Ellis - B. Riley Securities Operator Good afternoon. My name is Shamali and I will be your conference operator today. At this time, I would like to welcome everyone to the Rogers Corporation Q3 2023 Earning ...

Q3 2023 Earnings Call OCTOBER 26, 2023 1 Forward-looking statements 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. This release co ...

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, 2023 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 ...

Rogers Corporation (NYSE:ROG) Q2 2023 Earnings Conference Call August 3, 2023 5:00 PM ET Company Participants Steve Haymore – Director-Investor Relations Colin Gouveia – President and Chief Executive Officer Ram Mayampurath – Senior Vice President and Chief Financial Officer Conference Call Participants Daniel Moore – CJS Securities Ethan Widell – B. Riley Securities Operator Good afternoon. My name is Dina, and I will be your conference operator today. At this time, I would like to welcome everyone to the ...

• EMS: Lower general industrial and consumer market sales, partially offset by higher portable electronics and A&D revenue. $0.1 million favorable foreign currency impact. 1 - See reconciliation of adjusted EBITDA to GAAP net income in the appendix. 2 - Represents proceeds from borrowings under revolving credit facility less repayment of debt principal and finance lease obligations. 3 - Change in assets and liabilities per the statements of cash flows. Note: dollars may not add due to rounding. Note: percen ...

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, 2023 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 ...