Rogers Q3 adjusted EPS beats analyst expectations on electronics, automotive end markets
ROG•Rogers reported Q3 adjusted EPS of $1.39, above the $1.19 analyst consensus, while net sales rose 9.3% to $236.1 million and slightly missed expectations. The company forecast Q4 net sales of $215 million to $225 million and adjusted EPS of $0.90 to $1.10.
1. Quarterly results
Rogers reported Q3 net sales of $236.1 million, up 9.3% but slightly below the $238 million analyst consensus. Adjusted EPS was $1.39, beating the $1.19 consensus, and adjusted EBITDA was $47.7 million. The company repurchased $9.3 million in shares during the quarter.
2. Outlook and drivers
Rogers expects Q4 net sales of $215 million to $225 million, gross margin of 32.5% to 33.5%, and adjusted EPS of $0.90 to $1.10. The company said sales growth was driven by electronics, communications and automotive end markets, and cited improved execution, a more efficient operating structure and favorable currency exchange rates.
