Rogers (ROG) Tops Q1 EPS by 50c, Revenues Beat; Affirms Q2 EPS/Revenue Guidance Above Consensus

Rogers (NYSE: ROG) reported Q1 EPS of $1.85, $0.50 better than the analyst estimate of $1.35. Revenue for the quarter came in at $239.8 million versus the consensus estimate of $226.25 million.

"Our record Q1 revenue and earnings performance exceeded our expectations due to strong tailwinds in Advanced Connectivity and Advanced Mobility applications. In particular, meaningful 5G demand began to ramp during the quarter and ADAS returned to strong sequential growth. Demand for specific EV/HEV applications also continued to be strong," stated Bruce D. Hoechner, Rogers’ President and CEO. “We remain focused on capacity expansions and operational improvements in order to capitalize on these opportunities and deliver increased revenues and profitability. We are seeing the results of our targeted strategy and believe we are extremely well positioned to take advantage of the significant market opportunities ahead."

GUIDANCE:

Rogers sees Q2 2019 EPS of $1.47-$1.62, versus the consensus of $1.44. Rogers sees Q2 2019 revenue of $240-250 million, versus the consensus of $231.7 million.

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

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