Rogers (ROG) Tops Q1 EPS by 9c, Beats on Revenues; Offers 2Q EPS Guidance Below Consensus

Rogers (NYSE: ROG) reported Q1 EPS of $1.48, $0.09 better than the analyst estimate of $1.39. Revenue for the quarter came in at $214.6 million versus the consensus estimate of $212.07 million.

First quarter 2018 highlights, versus first quarter 2017:

• Net sales of $214.6 million, up 5.3%
• Gross margin of 35.7%, down 373 basis points
• Net income of $26.1 million, down 3.3%
• Earnings of $1.40 per diluted share; adjusted earnings of $1.48 per diluted share

Financial outlook

• Rogers guides its 2018 second quarter net sales to a range of $210 to $220 million.
• Rogers guides its 2018 second quarter earnings to a range of $1.10 to $1.25 per diluted share.
• Adjusted earnings are guided to a range of $1.25 to $1.40 per diluted share.
• Rogers guides 2018 full year capital spending to be in the range of $50 to $60 million.
• Rogers guides the 2018 full year effective tax rate to be 24-26%, with a second quarter effective tax rate of 28-29%.

GUIDANCE:

Rogers sees Q2 2018 EPS of $1.26-$1.40, versus the consensus of $1.46.

For earnings history and earnings-related data on Rogers (ROG) click here.

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