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Rogers (ROG) investor relations material
Rogers Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Q2 2025 net sales reached $202.8M, up 6.5% sequentially but down 5.3% year-over-year, with growth in industrial, portable electronics, aerospace & defense, and ADAS markets.
Gross margin improved to 31.6%, up 170 bps sequentially, but down from 34.1% a year ago.
Net loss of $73.6M included $71.8M in non-cash impairment charges and $4.3M in restructuring expenses related to the curamikⓇ business.
Adjusted EPS was $0.34, up from $0.27 in Q1 2025, within guidance.
Leadership transition to interim CEO and executive departures occurred, with restructuring actions underway to improve execution and cost structure.
Financial highlights
Q2 2025 net sales: $202.8M; AES up 4.6% and EMS up 8.2% sequentially.
GAAP net loss: $73.6M, or $(4.00) per share, mainly due to $71.8M in impairment charges.
Adjusted EBITDA: $23.9M (11.8% margin), up from $19.5M (10.2%) in Q1 2025.
Free cash flow was $5.6M, up from $2.1M in Q1 2025.
Cash and cash equivalents at quarter-end were $157.2M, down $18.4M sequentially.
Outlook and guidance
Q3 2025 net sales expected between $200M and $215M, with gross margin guidance of 31.5%–33.5%.
Adjusted EPS for Q3 projected at $0.50–$0.90; GAAP EPS expected between $0.00 and $0.40.
Full-year capital expenditures forecasted at $30M–$40M, funded by operations and cash on hand.
Cost reduction initiatives in curamikⓇ expected to yield $12M–$20M in expenses and over $13M in annual savings, with most cash outflows in 2026.
Tariff mitigation actions expected to largely offset impacts in Q3.
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