Rogers (NYSE: ROG) reported Q2 EPS of $1.19, $0.13 worse than the analyst estimate of $1.32. Revenue for the quarter came in at $214.7 million versus the consensus estimate of $214.33 million.

"Rogers achieved revenue growth across much of the business; however, margins were below our expectations in the quarter primarily due to additional costs for capacity and activities to reduce cost structure," stated Bruce D. Hoechner, Rogers' President and CEO. "We are turning the corner on near-term operating challenges. We are executing well on our strategy, as demonstrated by our recent synergistic acquisition of Griswold, and our ongoing substantial investments in capacity and multi-site readiness, in preparation for the significant growth opportunities in 5G wireless, advanced driver assistance systems, and electric and hybrid electric vehicles. Rogers is well positioned to achieve the performance targets outlined in our 2020 vision."

Financial outlook

Rogers guides its 2018 third quarter net sales to a range of $220 to $230 million. Rogers guides its 2018 third quarter earnings to a range of $0.97 to $1.12 per diluted share, excluding the impact of purchase accounting related to the acquisition of Griswold. 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 25-27%, with a third quarter effective tax rate of 30-31%.

GUIDANCE:

Rogers sees Q3 2018 EPS of $1.25-$1.40. Rogers sees Q3 2018 revenue of $220-230 million.

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