Rogers (ROG) Tops Q2 EPS by 23c, Revenues Miss; Offers 3Q EPS Mid-Point Guidance Below Consensus, 3Q Revenue Guidance Below Consensus

Rogers (NYSE: ROG) reported Q2 EPS of $1.13, $0.23 better than the analyst estimate of $0.90. Revenue for the quarter came in at $191.2 million versus the consensus estimate of $197.1 million.

“As the result of strong operational performance and favorable product mix, second quarter gross margin and adjusted earnings per share exceeded the top end of our guidance expectations,” stated Bruce D. Hoechner, Rogers' President and CEO. “These solid results were driven by continued progress on our cost improvement roadmap, including timely actions in response to the challenging macro-environment. In the near-term our focus continues to be on the health and safety of our employees and supporting our global customers. In addition, we are focused on accelerating our plans to capitalize on the significant growth opportunities in Advanced Mobility markets, while we continue to pursue opportunities in Advanced Connectivity markets.”

GUIDANCE:

Rogers sees Q3 2020 EPS of $0.90-$1.10, versus the consensus of $1.05. Rogers sees Q3 2020 revenue of $175-190 million, versus the consensus of $201.77 million.

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

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