Rogers (NYSE:ROG) Releases Earnings Results, Beats Estimates By $0.20 EPS

Rogers (NYSE:ROG) posted its quarterly earnings data on Tuesday. The electronics maker reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.20, FiscalAI reports. The firm had revenue of $236.10 million during the quarter, compared to analyst estimates of $238.00 million.

Here are the key takeaways from Rogers’ conference call:

• Third-quarter performance improved substantially: sales rose 9% year over year to $236.1 million, adjusted EPS increased 54% to $1.39, and adjusted EBITDA grew 28% to $47.7 million, with EBITDA margin reaching 20.2%.
• Growth was broad-based across all end markets, led by electronics and communications, automotive, and aerospace and defense. Rogers also secured new design wins in EV battery applications, data centers, aerospace and defense, and energy storage.
• Management expects continued year-over-year improvement in the fourth quarter, guiding to approximately 9% revenue growth, 12% adjusted EPS growth, and 16% adjusted EBITDA growth at the midpoint, despite normal seasonal sequential revenue declines.
• Strong operating cash flow lifted cash and short-term investments to $236.4 million, while the company repurchased $9.3 million of shares and said it is evaluating additional buybacks and potential acquisitions.
• Quarterly sales fell slightly short of the midpoint of guidance because of supply constraints and some customer orders being pushed out. Higher commodity costs remain a margin headwind, and fourth-quarter adjusted EPS guidance of $0.90–$1.10 implies only modest growth at the midpoint.

Rogers Trading Up 5.2%

Shares of Rogers stock opened at $134.32 on Wednesday. The business’s fifty day moving average price is $135.57 and its 200 day moving average price is $126.77. Rogers has a twelve month low of $75.14 and a twelve month high of $169.00.

Key Headlines Impacting Rogers

Here are the key news stories impacting Rogers this week:

• Positive Sentiment: Rogers earned $1.39 per share in the third quarter, well above the $1.19 analyst consensus and up from $0.90 a year earlier. The earnings beat indicates stronger-than-expected profitability. Rogers Corp. Beats Q3 Earnings Estimates
• Positive Sentiment: Management forecast a fourth-quarter adjusted EBITDA increase of approximately 16%, suggesting continued margin improvement and cost or mix benefits despite a softer revenue outlook. Rogers Forecasts Q4 Revenue and EBITDA Growth
• Neutral Sentiment: Third-quarter sales increased 9.3% year over year to $236.1 million, showing solid growth, but the earnings call and company report indicate demand remains uneven across end markets. Rogers Corporation Reports Third Quarter Results
• Negative Sentiment: Revenue came in below the $238 million consensus estimate, a modest sales miss that may limit the impact of the stronger-than-expected EPS result. Rogers Misses Q3 Sales Expectations
• Negative Sentiment: Rogers guided to fourth-quarter revenue of $215 million to $225 million, below third-quarter sales, implying a sequential slowdown even as EBITDA is expected to grow. Rogers Fourth-Quarter Forecast

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Zacks Research downgraded Rogers from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 23rd. Freedom Broker upgraded Rogers to a “strong-buy” rating in a research report on Thursday, October 1st. Weiss Ratings raised Rogers from a “sell (d)” rating to a “hold (c)” rating in a research note on Wednesday, August 12th. Wall Street Zen lowered Rogers from a “buy” rating to a “hold” rating in a research note on Monday, August 31st. Finally, B. Riley Financial lowered their price target on Rogers from $225.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Rogers has a consensus rating of “Moderate Buy” and an average target price of $195.00.

Rogers Company Profile

Rogers Corporation (NYSE: ROG) is a global manufacturer of engineered materials and specialty components used in demanding applications. The company develops high-performance elastomers, polymer composites, laminates and other material technologies designed to provide electrical insulation, thermal management, vibration control, protection and reliability.

Its products are used in electric and hybrid vehicles, power electronics, telecommunications and 5G infrastructure, aerospace and defense systems, healthcare equipment, renewable energy systems and various industrial applications.