Rogers Q2 EPS Misses Estimates by 7%, Guides Q3 Above Street
ROG sits 95% above its 52-week low of $61.165.
Summary
Rogers Corp reported Q2 adjusted EPS of $0.92, missing the $0.99 consensus by about 7%, despite a 6.9% revenue increase to $216.8M that slightly beat estimates. The miss was driven by higher costs or mix issues not fully offset by strong industrial and electronics demand and a $5.3M currency tailwind. Management guided Q3 sales to $233M-$243M and adjusted EPS to $1.10-$1.30, both above current Street expectations, suggesting the Q2 miss may be transitory. The stock closed at $119.18, well below the median analyst target of $200, and trades at 32x forward earnings. This follows a Q1 net income recovery and recent CEO appointment, but the earnings shortfall could pressure the stock near-term despite the upbeat guidance.
At the time of this announcement, ROG was trading at $119.18 on NYSE in the Manufacturing sector, with a market capitalization of approximately $2.1B. The 52-week trading range was $61.17 to $169.00. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Reuters.