Core Insights - Rogers Sugar Inc. has published its 2023 Environmental, Social and Governance (ESG) report, which is available on its website [1] Company Overview - Rogers Sugar Inc. is a Canadian corporation that owns all common shares of Lantic, with its administrative office located in Montréal, Québec [2] - Lantic operates cane sugar refineries in Montréal and Vancouver, and the only sugar beet processing facility in Taber, Alberta, along with a distribution center in Toronto [2] - Lantic's sugar products are marketed under the "Lantic" brand in Eastern Canada and the "Rogers" brand in Western Canada, including various types of sugars and specialty syrups [2] - Lantic also owns The Maple Treat Corporation, which operates bottling plants in Québec and Vermont, producing maple syrup and related products sold in approximately fifty countries [2]

Financial Data and Key Metrics Changes - Sales for Q1 2024 were $213 million, an increase of approximately 4% from the prior quarter, nearing the top end of guidance expectations [24][37] - Adjusted EPS was $0.58, slightly down from $0.60 in the prior quarter, primarily due to higher income tax expenses [43] - Gross margin was 32%, at the low end of the range, with expectations for improvement to above 35% later in the year as volumes stabilize [25][40] Business Line Data and Key Metrics Changes - Aerospace and Defense (A&D) sales increased by 4.1% to $122 million, driven by demand for high-frequency circuit materials [37][28] - EMS revenues rose by 3% to $86 million, supported by higher demand in general industrial and commercial aerospace [39] - EV/HEV sales declined in Q1, with curamik sales affected by customer inventory management, but EMS EV sales reached a new quarterly record [26][10] Market Data and Key Metrics Changes - Industrial sales improved at a high single-digit rate, indicating recovery in the industrial market [29] - Wireless infrastructure sales improved due to stronger demand in India, expected to continue into Q3 [29] - Portable electronics demand declined due to normal seasonality, but a rebound is anticipated in the second half of the year [32][52] Company Strategy and Development Direction - The company is focused on executing strategic growth plans, including funding R&D and innovation initiatives while managing costs and capital expenditures [12][33] - A balanced approach to innovation is being adopted, with a focus on short, medium, and long-term projects to ensure continuous growth [19][85] - The company is actively managing its balance sheet and capital allocation, prioritizing organic growth and opportunistic share buybacks [46][103] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about improving end market demand, particularly in industrial sectors, and expects Q1 sales to be the low point for the year [5][4] - There are still challenges in certain segments, particularly in the EV/HEV market, but long-term growth opportunities remain strong [32][73] - The company is committed to improving gross margins and managing operating expenses while preparing for anticipated demand recovery [36][49] Other Important Information - The company has a strong cash position, with $117 million in cash at the end of Q1, and plans to adjust capital expenditures to match anticipated demand [44][45] - The guidance for Q2 includes expected net sales between $210 million and $220 million, with gross margins projected to improve to 32.5% to 33.5% [47][49] Q&A Session Summary Question: Can you provide further color on the industrial market recovery? - Management noted recovery in the industrial market, particularly in the U.S., with inventory corrections positively impacting sales [53][60] Question: What contributes to the potential for 35% gross margins at $230 million in sales in Q3? - Management indicated that improvements in cost management and a favorable product mix would contribute to achieving this margin [62][64] Question: How do you see the growth trajectory of AES and EMS segments? - Management believes both segments could grow at similar rates, but current inventory issues in the EV/HEV space may cause temporary divergence [70][72] Question: What is the company's approach to managing working capital? - The company is focused on reducing inventory levels that built up during supply chain challenges and is committed to managing working capital effectively [78][79] Question: How has the company's strategy shifted in response to regulatory changes regarding PFAS? - Management is actively addressing PFAS regulations and ensuring compliance while continuing to innovate with non-PTFE technologies [81][83]

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 March 31, 2024 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 C ...

Q1 2024: Adjusted Earnings Per Diluted Share Reconciliation Q1 2024 Q4 2023 | --- | --- | --- | |------------------------------------------------------------------------|---------|---------| | GAAP Earnings Per Diluted Share | $0.42 | $1.24 | | Acquisitions and Divestiture Related Costs: | | | | Acquisition and Related Integration Costs | - | - | | Dispositions | - | $0.06 | | Intangible Amortization | $0.17 | $0.18 | | (Gain) Loss on Sale or Disposal of PPE | - | ($0.10) | | Restructuring, Business Realign ...

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 ...