Rogers (ROG) - 2025 Q3 - Quarterly Results

Financial Performance - Net sales for Q3 2025 were $216.0 million, a 6.5% increase compared to Q2 2025[4] - Net income for Q3 2025 was $8.6 million, compared to a net loss of $(73.6) million in Q2 2025[3] - Adjusted earnings per diluted share were $0.90, compared to $0.34 in the prior quarter[5] - Total net sales for Q3 2025 were $216.0 million, an increase from $210.3 million in Q3 2024[20] - The company expects GAAP earnings per diluted share for Q4 2025 to be between $0.00 and $0.40, with adjusted earnings per diluted share guidance of $0.40 to $0.80[22] Sales Growth - Advanced Electronics Solutions (AES) net sales increased by 5.2%, driven by higher EV/HEV and wireless infrastructure sales[4] - Elastomeric Material Solutions (EMS) net sales rose by 8.7%, primarily from stronger portable electronics and aerospace sales[4] Margins and Efficiency - Gross margin improved to 33.5%, up 190 basis points sequentially[7] - Adjusted EBITDA for Q3 2025 was $37.2 million, an increase of 5.7% from $35.2 million in Q3 2024[19] - Adjusted EBITDA margin for Q3 2025 was 17.2%, up from 16.7% in Q3 2024, indicating improved operational efficiency[20] Cash Flow and Expenditures - Ending cash and cash equivalents increased to $167.8 million, up $10.6 million from the prior quarter[6] - Free cash flow for Q3 2025 was $21.2 million, a decrease of 15.9% from $25.2 million in Q3 2024[21] - Net cash provided by operating activities for Q3 2025 was $28.9 million, compared to $42.4 million in Q3 2024[21] - Capital expenditures for 2025 are expected to be between $30 million and $40 million[8] Future Projections - The company expects Q4 2025 net sales to be between $190 million and $205 million[8] - Projected gross margin for Q4 2025 is between 30.0% and 32.0%[8] Adjustments and Costs - Total adjustments to GAAP earnings per diluted share in Q3 2025 amounted to $0.41, primarily due to restructuring and related costs[17] - The company reported intangible amortization of $2.8 million in Q3 2025, slightly down from $3.1 million in Q3 2024[19]