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Rogers Q3 Adjusted EPS beats analyst expectations on electronics, automotive end markets

By Reuters News


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


Reuters Recommended Reads

  • Oct 26 - Cadence tops Q3 profit estimates, hikes forecast on AI-driven design strength

  • Oct 26 - Amkor Technology Q3 sales slightly miss estimates on weak Communications

  • Oct 26 - Cadence unveils suite of AI models that chipmakers can run in-house


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.)

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