Rogers Corp Q3 sales miss low end; adjusted EPS $0.98 beats; Q4 guidance weak

ROGERS CORP

2024-Q3 EPS reported $1.43 revenue$637,900,000

Net sales $210.3M, down 1.8% sequentially and 8.2% YoY; below Q4 guidance low end.
GAAP EPS $0.58 vs $0.44 Q2; adjusted EPS $0.98 beats $0.69 Q2 but down from $1.24 YoY.
Adjusted operating margin 11.7% (+350 bps QoQ) driven by favorable product mix and lower SG&A.
Q4 guidance: sales $185-200M, adjusted EPS $0.30-0.60; GAAP EPS could be negative due to restructuring.
CEO cites softer EV/HEV demand and lower portable electronics; new China factory for growth.

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