Rogers Corporation reports Q1 adjusted EPS 27c, consensus 25c

Reports Q1 revenue $190.5M, consensus $186.33M. “Our first quarter unfolded largely as we expected with financial results that were in line with our guidance expectations,” stated Colin Gouveia, Rogers’ President and CEO. “Sales decreased slightly versus the prior quarter as a result of unfavorable foreign currency changes and seasonally lower sales in the portable electronics market, but we were pleased to see improved demand in the ADAS and industrial end markets. We also further strengthened our balance sheet, ending the quarter with a $176 million cash position. Furthermore, we implemented additional measures to reduce operating expenses and manufacturing costs to enhance Rogers’ competitiveness in this current environment. Visibility into the remainder of the year is limited due to broad uncertainty related to tariffs and global trade,” said Gouveia. “However, despite these challenges, we remain focused on executing our commercial, innovation, and operational priorities. Combined with our strong financial position, these priorities are positioning Rogers for success as market conditions improve.”