Rogers Q2 EPS $0.96, adjusted $1.07; margins improve despite sales dip

ROGERS CORP

2023-Q2 EPS reported $0.77 revenue$474,668,000

Net sales $230.8M, down 5.3% sequentially; AES $130.2M, EMS $95.3M.
GAAP gross margin 34.5% vs 32.7% prior quarter; adjusted operating margin 13.4% (+300 bps).
GAAP net income $17.9M vs loss of $3.5M in Q1; diluted EPS $0.96 vs $(0.19).
Q3 guidance: sales $230-240M, adj. EPS $1.05-1.25; 2023 capex $65-75M.
Cash $141.5M; repaid $60M revolver; free cash flow $4.2M.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ROGERS CORP reported the second quarter of 2023 results: revenue $230.8 million, net income $17.9 million, EPS $0.96.

Period: the second quarter of 2023
Revenue: $230.8 million
Net income: $17.9 million
EPS: $0.96
Result: reported results

Exact text from the filing

$95.3 $102.2 $105.1 Other $5.3 $5.7 $5.7 1 - A reconciliation of GAAP to non-GAAP measures is provided in the schedules included below 1 Q2 2023 Summary of Results Net sales of $230.8 million decreased 5.3% versus the prior quarter resulting from lower sales in both the AES and EMS business units. AES net sales decreased by 4.2% primarily related to lower EV/HEV and

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ROGERS CORP updated its Q3 2023 guidance (initiated).

Period: Q3 2023
Guidance: initiated
Result: guidance update

Exact text from the filing

Financial Outlook Q3 2023 Net Sales ($M) $230 to $240 Gross Margin 34.0% to 35.0% Earnings Per Diluted Share $1.20 to $1.40 Adjusted Earnings Per Diluted Share 1 $1.05 to $1.25

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Source: SEC EDGAR

accession 0000084748-23-000063

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