Rogers (ROG) Tops Q3 EPS by 45c, Revenues Beat; Offers 4Q EPS Guidance Above Consensus
Rogers (NYSE: ROG) reported Q3 EPS of $1.45, $0.45 better than the analyst estimate of $1.00. Revenue for the quarter came in at $201.9 million versus the consensus estimate of $184.23 million.
- Strategic Market Growth and Operational Execution Drives Strong Financial Results
“We are encouraged by the growth we saw in many of our strategic markets as well as our strong operational performance, which resulted in revenue and gross margin that exceeded the top end of our guidance expectations,” stated Bruce D. Hoechner, Rogers, President and CEO. “Q3 sales were driven by strength in the EV/HEV, ADAS, portable electronics and defense markets. For the fourth quarter we expect continued strength in these strategic markets, although visibility to a broader market recovery remains less clear. We continue to accelerate our efforts to capitalize on the substantial opportunities in Advanced Mobility markets, while also focusing on growth opportunities across our strong and diversified market portfolio.”
Rogers sees Q4 2020 EPS of $1.30-$1.50, versus the consensus of $1.02.
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