Washington, D.C., Nov. 12, 2024 (GLOBE NEWSWIRE) -- Today, the New Civil Liberties Alliance filed an amicus curiae brief urging the U.S. Court of Appeals for the Fifth Circuit to hear Ortega & Rogers v. Office of the Comptroller of the Currency (OCC). NCLA asks the Fifth Circuit to overturn an OCC decision punishing former Texas bank officers Saul Ortega and David Rogers, Jr. without a jury trial, which violates the Seventh Amendment. OCC closed the bank where Ortega and Rogers worked in 2013, and four year ...

TORONTO, Oct. 31, 2024 (GLOBE NEWSWIRE) -- Rogers today announced its net-zero greenhouse gas (GHG) emissions targets have been approved by the globally recognized Science Based Targets initiative (SBTi). “This is a significant milestone in our efforts to take meaningful action on climate change and help build a more climate-resilient Canada,” said Tony Staffieri, President and Chief Executive Officer, Rogers. “Greenhouse gas emissions are the most significant driver of climate change and Rogers will contin ...

Rogers Communications (RCI) reported third-quarter 2024 adjusted earnings of $1.04 per share, which lagged the Zacks Consensus Estimate by 2.80% and increased 9.6% year over year.Revenues of $3.76 billion lagged the consensus mark by 1.39% and declined 1% year over year.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.In domestic currency (Canadian dollar), adjusted earnings increased 11.81% year over year to C$1.42 per share. Total revenues increased 0.73% year over year, reaching C ...

Financial Data and Key Metrics Changes - Revenues for Q3 2024 were $210 million, a decline of 2% from the prior quarter, primarily due to lower EV/HEV and ADAS sales, which offset growth in portable electronics, industrial, and aerospace and defense [7][15] - Gross margin improved to 35.2%, exceeding guidance expectations, driven by lower operating expenses and favorable product mix [5][17] - Adjusted net income increased to $18 million in Q3 from $13 million in Q2, with adjusted EPS rising to $0.98 compared to $0.69 in the prior quarter [18] Business Line Data and Key Metrics Changes - AES revenue decreased by 3% to $112 million, with significant declines in curamik sales due to customer inventory corrections [16] - EMS revenue decreased by less than 1% to approximately $94 million, primarily due to lower EV/HEV sales, partially offset by higher portable electronics and improved industrial sales [17] - Aerospace and Defense registered good growth in Q3, with expectations for mid to high single-digit growth in 2024 [7] Market Data and Key Metrics Changes - The EV/HEV market saw sales approximately $5 million to $15 million lower per quarter compared to the first half of 2023, primarily due to inventory corrections by customers [8][12] - Industrial sales are still below prior year levels due to ongoing global manufacturing downturn, but growth opportunities exist in medical devices, data centers, and battery energy storage systems [10][11] - Wireless infrastructure sales improved slightly from Q2, driven by a specific project in India, which concluded in Q3 [8] Company Strategy and Development Direction - The company is focused on securing design wins, pursuing regional manufacturing strategies, and prioritizing higher growth segments to drive improvement in the coming quarters [14] - Investments are being made in capacity and capabilities, including a new curamik power substrate factory in China, to support long-term growth [6][13] - The company aims to maximize profitability and cash flow while preparing for future growth opportunities in the EV/HEV market [14] Management's Comments on Operating Environment and Future Outlook - Management noted ongoing contraction in global manufacturing activity and slower automotive production, impacting demand in key markets [6] - There are expectations for meaningful growth in 2025, driven by demand recovery in power modules and improvements in global manufacturing activity [14][23] - Management remains cautious about the current headwinds but sees potential for improvement in the curamik substrate market and other segments [22][23] Other Important Information - The company generated $25 million in free cash flow during Q3, with cash on hand increasing to approximately $146 million [15][18] - Capital expenditures for the year are expected to be in the range of $50 million to $60 million, slightly below previous estimates [18] Q&A Session Summary Question: What are the main drivers for the sequential decline in revenue in Q4? - Management indicated that the primary reason is the conclusion of a significant wireless program and typical seasonal declines in portable electronics, along with customer destocking [21] Question: Are there still inventory management headwinds expected in the first half of next year? - Management noted potential for meaningful improvement based on the return of growth in the curamik substrate market and ongoing work with EV battery producers [22] Question: What is the outlook for margins in the EMS segment? - Management acknowledged margin suppression in EMS due to allocation strategies and utilization levels, but operational excellence initiatives are in place to improve margins [25][26] Question: Can you elaborate on the growth opportunities in the industrial business? - Management highlighted specific end markets within the industrial segment, such as battery energy storage systems and medical devices, as areas for potential growth [29] Question: What is the expected revenue impact from the new curamik facility in China? - Management expressed excitement about the new facility and its potential to capture growth, but specific revenue figures have not been disclosed yet [30][31] Question: How does the company view M&A opportunities? - Management stated that M&A remains a key strategy, with several targets being evaluated, but emphasized the importance of finding the right strategic fit [40][41] Question: What is the company's approach to returning cash to shareholders? - Management confirmed a clear capital allocation strategy that includes opportunistic share buybacks, contingent on organic growth opportunities and market conditions [42][43]

分组1 - Rogers Corp. reported quarterly earnings of $0.98 per share, exceeding the Zacks Consensus Estimate of $0.85 per share, but down from $1.24 per share a year ago, representing an earnings surprise of 15.29% [1] - The company posted revenues of $210.3 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 4.50%, and down from $229.15 million year-over-year [1] - Over the last four quarters, Rogers Corp. has surpassed consensus EPS estimates three times but has topped consensus revenue estimates only once [1] 分组2 - The stock has underperformed the market, losing about 23.8% since the beginning of the year compared to the S&P 500's gain of 21.5% [2] - The current consensus EPS estimate for the coming quarter is $0.92 on revenues of $213.5 million, and for the current fiscal year, it is $3.04 on revenues of $861.3 million [4] - The Zacks Industry Rank for Electronics - Miscellaneous Components is in the top 34% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [5]

Rogers Corporation Reports Third Quarter 2024 Results Improved Operating Margin Drives Further Earnings Growth Chandler, Arizona, October 24, 2024: Rogers Corporation (NYSE:ROG) today announced financial results for the third quarter of 2024. "Third-quarter results were mixed with earnings that exceeded our guidance expectations and sales that were below the low end of our outlook," stated Colin Gouveia, Rogers' President and CEO. "The higher earnings resulted from our ongoing focus on operational improveme ...

More Canadians continue to choose Rogers Wireless and Internet than any other carrier in Canada Combined mobile phone and Internet net additions of 227,000 in Q3 and 502,000 for the year to dateQ3 postpaid mobile phone net additions of 101,000; prepaid net additions of 93,000; retail Internet net additions of 33,000Rogers has added industry-best 1.9 million mobile phone and Internet net additions over the past 11 quarters Continued disciplined loading, strong execution, efficiency gains, industry-leading fi ...

TORONTO, Oct. 24, 2024 (GLOBE NEWSWIRE) -- Rogers Communications Inc. (TSX: RCI.A and RCI.B) (NYSE: RCI) (“Rogers”) announced that its Board of Directors (the “Board”) declared a quarterly dividend totaling 50 cents per share (the “Quarterly Dividend”) on each of its outstanding Class B Non-Voting shares (“Class B Shares”) and Class A Voting shares. The declared Quarterly Dividend will be paid on January 3, 2025 to shareholders of record on December 9, 2024. Such quarterly dividends are only payable as and ...

Rogers Communication (RCI) recently announced that it will launch Warner Bros. Discovery's (WBD) portfolio of factual and U.S. lifestyle content in Canada. Bell Media previously owned the right to broadcast WBD's content. However, WBD inked an agreement with RCI to distribute Discovery channels. This agreement concluded after Bell dropped its legal effort to prevent Canadians from viewing Discovery Channels on Rogers networks. RCI will launch Discovery ID and Discovery. Cooking, OWN, Discovery Science, Anim ...

TORONTO, Oct. 08, 2024 (GLOBE NEWSWIRE) -- Rogers Communications confirmed today it will be the proud home of Warner Bros. Discovery's suite of English-language U.S. lifestyle and factual brands starting January 1, 2025. This confirms Rogers plans to bring this sought after content to Canadians and follows Bell's decision to abandon its legal efforts to block Canadians from seeing Discovery channels. "We're already home to Canada's #1 sports network, and this partnership helps solidify our leadership in ent ...