Rogers Q3 Adjusted EPS beats analyst expectations on electronics, automotive end markets
Overview
US engineered materials maker's Q3 net sales rose 9.3% but slightly missed analyst expectations
Adjusted EPS for Q3 beat analyst expectations
Company repurchased $9.3 mln in shares during the quarter
Outlook
Rogers sees Q4 net sales of $215 mln to $225 mln
Company expects Q4 gross margin of 32.5% to 33.5%
Rogers forecasts Q4 adjusted EPS of $0.90 to $1.10
Result Drivers
ELECTRONICS AND AUTOMOTIVE - Co said sales growth was driven by electronics, communications and automotive end markets
OPERATIONAL IMPROVEMENTS - Co attributed stronger results to improved execution and more efficient operating structure
FAVORABLE CURRENCY - Co said currency exchange rates had a positive impact on net sales
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Sales | Slight Miss* | $236.1 mln | $238 mln (3 Analysts) |
Q3 Adjusted EPS | Beat | $1.39 | $1.19 (3 Analysts) |
Q3 Adjusted EBITDA | $47.7 mln |
*Applies to a deviation of less than 1%; not applicable for per-share numbers.
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the semiconductors peer group is "buy"
Wall Street's median 12-month price target for Rogers Corporation is $202.50, about 58.5% above its October 26 closing price of $127.72
The stock recently traded at 29 times the next 12-month earnings vs. a P/E of 41 three months ago
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For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)