UPDATE: Rogers (ROG) Tops Q1 EPS by 9c, Revenues Beat; Offers 2Q EPS/Revenues Mid-Point Guidance Above Consensus

Rogers (NYSE: ROG) reported Q1 EPS of $0.92, $0.09 better than the analyst estimate of $0.83. Revenue for the quarter came in at $198.18 million versus the consensus estimate of $190.33 million.

"Rogers delivered solid first quarter results at the high end of our guidance range, despite the impact of the ongoing COVID-19 pandemic," stated Bruce D. Hoechner, Rogers' President and CEO. "The global Rogers team responded swiftly to focus on employee safety and health while maintaining continuity of our operations in order to meet commitments to our customers. Looking ahead we anticipate Q2 sales to be comparable to Q1 due to stronger wireless infrastructure demand from China offsetting weakness in automotive and industrial markets. The current environment remains dynamic, however with a strong balance sheet, a history of adaptability, resilience and innovation, and leading positions in global diversified markets, Rogers is well positioned to navigate these challenges."

GUIDANCE:

Rogers sees Q2 2020 EPS of $0.80-$1.00, versus the consensus of $0.80.

Rogers sees Q2 2020 Revenues of $190 million-$205 million, versus the consensus of $191.27 million.

• Rogers 2020 second quarter guidance incorporates the Company\'s best estimate of the impact of COVID-19 and the net sales range is wider than historically provided due to an increased level of uncertainty in the outlook.

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

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