earnings
confidence high
sentiment neutral
materiality 0.75
Rogers Q2 net sales $252M (+1.5% QoQ); EPS $0.94 GAAP, $1.22 adjusted; DuPont deal on track
ROGERS CORP
2022-Q2 EPS reported
$1.82
revenue$500,236,000
- GAAP net income $17.9M ($0.94 diluted EPS) vs. $16.6M ($0.87) in Q1 2022; adjusted EPS $1.22 vs. $1.53 prior quarter.
- Net sales $252.0M, up 1.5% sequentially; AES segment +6% (EV/HEV, defense), EMS -4.7% (industrial, EV/HEV).
- Gross margin 34.3% (34.4% Q1); adjusted operating margin 12.1% vs. 14.5% on raw material and supply constraints.
- DuPont acquisition at $277/share expected to close Q3 2022; no forward guidance or earnings call due to pending deal.
- Cash and equivalents $225.3M; $70M drawn on revolver; capex $25M; free cash flow $(22.9)M.