亚利桑那州钱德勒市 2025 年 2 月 19 日：Rogers Corporation (NYSE:ROG) today announced financial results for the full year and fourth quarter of 2024.
"Our results were consistent with our guidance expectations for the fourth quarter,” stated Colin Gouveia, Rogers' President and CEO. "As anticipated, sales declined due to seasonally lower portable electronics sales and lower wireless infrastructure and industrial revenues. Despite macro and market challenges impacting full year sales, our focused efforts to deliver operations and procurement cost savings, optimize yields and drive throughput improvements helped mitigate the effect of the lower sales on gross margins. These actions, combined with effective expense and working capital management, enabled us to generate solid cash flow and execute our capital allocation priorities.
"Many of our customers remain cautious about the timing of a recovery in the EV/HEV and industrial markets," said Gouveia. "In 2025, we continue to focus on securing new design wins, improving our cost structure and maintaining a strong balance sheet. We are executing on our commercial, innovation and manufacturing footprint priorities, and are confident that these actions will position Rogers to win when market conditions begin to improve."
| GAAP 业绩（以百万美元为单位，每股金额除外） | 2024 年第四季度 | 2024 年第三季度 | 2023 年第四季度 | 2024 | 2023 |
|---|---|---|---|---|---|
| 净销售额 | $192.2 | $210.3 | $204.6 | $830.1 | $908.4 |
| 毛利率 | 32.1% | 35.2% | 32.9% | 33.4% | 33.8% |
| 经营利润率 | (2.6%) | 6.9% | 14.9% | 3.9% | 9.4% |
| 净收入（亏损） | $(0.5) | $10.7 | $23.2 | $26.1 | $56.6 |
| 净收入（亏损）利润率 | (0.3%) | 5.1% | 11.3% | 3.1% | 6.2% |
| 摊薄后每股收益（亏损） | $(0.03) | $0.58 | $1.24 | $1.40 | $3.03 |
| 经营活动提供的现金净额 | $33.7 | $42.4 | $71.9 | 127.1美元 | $131.4 |
| Non-GAAP Results1(dollars in millions, except per share amounts) | 2024 年第四季度 | 2024 年第三季度 | 2023 年第四季度 | 2024 | 2023 |
|---|---|---|---|---|---|
| 调整后经营利润率 | 4.7% | 11.7% | 6.3% | 8.1% | 11.2% |
| 调整后净收入 | $8.6 | $18.2 | $11.3 | $50.5 | $70.7 |
| 调整后摊薄每股收益 | $0.46 | $0.98 | $0.60 | $2.72 | $3.78 |
| 调整后 EBITDA | $23.3 | $35.2 | $23.4 | $118.7 | $147.7 |
| 调整后 EBITDA 利润率 | 12.1% | 16.7% | 11.4% | 14.3% | 16.3% |
| 自由现金流 | $18.3 | $25.2 | $49.4 | $71.0 | $74.4 |
| 按经营部门划分的销售净额（百万美元） | 2024 年第四季度 | 2024 年第三季度 | 2023 年第四季度 | 2024 | 2023 |
|---|---|---|---|---|---|
| 先进电子解决方案 (AES) | $102.4 | $112.2 | $117.3 | $452.2 | $509.7 |
| 高弹体材料解决方案 (EMS) | $86.3 | $94.2 | $83.4 | $360.9 | $379.0 |
| 其他 | $3.5 | $3.9 | $3.9 | $17.0 | $19.7 |
1 A reconciliation of GAAP to non-GAAP measures is provided in the schedules
Net sales of $192.2 million decreased 8.6% versus the prior quarter resulting from lower sales in the AES and EMS business units. AES net sales decreased by 8.7% primarily related to lower wireless infrastructure sales, partially offset by higher ADAS and EV/HEV sales. EMS net sales decreased by 8.4% primarily from lower industrial and portable electronics sales, partially offset by higher aerospace and defense sales. Currency exchange rates favorably impacted total company net sales in the fourth quarter of 2024 by $0.6 million compared to the prior quarter.
Gross margin decreased to 32.1% from 35.2% in the prior quarter primarily from lower volume and unfavorable product mix.
Selling, general and administrative (SG&A) expenses decreased by $2.9 million from the prior quarter to $42.2 million. The decrease in SG&A expenses was primarily due to a $7.7 million gain in connection with the dissolution of a joint venture, partially offset by higher factory start-up costs.
GAAP operating margin of (2.6)% decreased from 6.9% in the prior quarter, primarily due to higher restructuring charges and lower gross margin. Adjusted operating margin of 4.7% decreased by 700 basis points versus the prior quarter.
GAAP earnings per diluted share were $(0.03) compared to earnings per diluted share of $0.58 in the previous quarter. On an adjusted basis, earnings were $0.46 per diluted share compared to earnings of $0.98 per diluted share in the prior quarter.
Ending cash and cash equivalents were $159.8 million, an increase of $13.4 million versus the prior quarter. Net cash provided by operating activities in the fourth quarter was $33.7 million and capital expenditures were $15.4 million.
| （以百万美元为单位，每股金额除外） | Q1 2025 |
|---|---|
| 净销售额 | $180 to $195 |
| 毛利率 | 29.0% to 30.5% |
| Earnings (Loss) Per Diluted Share1 | ($0.26) to $0.04 |
| 调整后摊薄每股收益2 | $0.10 to $0.40 |
| 2025 | |
|---|---|
| 资本支出 | $40 to $50 |
1 包括与我们比利时 Evergem 工厂的 AES 制造业务清盘相关的预期重组费用
2 A reconciliation of GAAP to non-GAAP measures is provided in the schedules
讨论第一季度业绩的电话会议将于今天 2025 年 2 月 19 日星期三美国东部时间下午 05:00 召开。欢迎前往罗杰斯公司网站 https://www.rogerscorp.com/investors 查看活动实时网络直播和随附演示。
罗杰斯公司（NYSE：ROG）作为工程材料的全球领导者，我们的产品正驱动、保护并连接我们的世界。罗杰斯为客户提供创新解决方案帮助他们应对材料领域的困难和挑战。我们的先进电子以及高弹体材料可广泛用于电动/混动汽车、车辆安全和雷达系统、移动设备、可再生能源、无线基础设施、高效电机驱动以及工业设备等诸多领域。Headquartered in Chandler, Arizona, Rogers operates manufacturing facilities in the United States (U.S.), Asia and Europe, with sales offices worldwide.
此文稿中包含的非历史事实描述的声明属于“前瞻性声明”，其含义见经修订的《1933 年证券法》第 27A 条和经修订的《1934 年证券交易法》第 21E 条。Such statements are generally accompanied by words or phrases such as “anticipate,” “assume,” “believe,” “could,” “estimate,” “expect,” “foresee,” “goal,” “intend,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “should,” “seek,” “target” or similar expressions that convey uncertainty as to the future events or outcomes. 前瞻性声明基于我们认为合理的假设和信念；然而，假定事实几乎总是与实际结果不同，假定事实与实际结果之间的差异可能取决于具体情况。如果我们对未来结果表达期望或信念，则基于认为有合理依据的假设，真诚地表达期望或信念。We cannot assure you, however, that the stated expectation or belief will occur or be achieved or accomplished. 此文稿包含前瞻性声明，涉及我们的计划、目标、展望、战略、未来活动、未来净销售额或业绩、资本性支出、未来的重组、扩张相关计划和意图、业务趋势以及其他非历史性信息。所有前瞻性内容均基于截至本文发布日期时我们可获得的信息，可能会面临各类风险、不确定性和其他因素的影响，其中许多因素超出我们的可控范围，这将导致实际结果与这些前瞻性内容中所述的结果有巨大出入。可能导致结果差异性的其他风险和不确定性包括但不限于：failure to capitalize on, volatility within, or other adverse changes with respect to our growth drivers, due to factors such as intense global competition affecting both the our existing products and products currently under development or delays in adoption or implementation of new technologies; failure to successfully execute on our long-term growth strategy; uncertain business, economic and political conditions in the U.S. and abroad, particularly in China, South Korea, Germany, Belgium, England, and Hungary, where we maintain significant manufacturing, sales or administrative operations; the trade policy dynamics between the U.S. and China reflected in trade agreement negotiations, the imposition of tariffs and other trade restrictions, as well as the potential for U.S.-China supply chain decoupling; fluctuations in foreign currency exchange rates; our ability to develop innovative products and the extent to which they are incorporated into end-user products and systems and the extent to which end-user products and systems incorporating our products achieve commercial success; the ability and willingness of our sole or limited source suppliers to deliver certain key raw materials, including commodities, to us in a timely and cost-effective manner; business interruptions due to catastrophes or other similar events, such as natural disasters, war, terrorism or public health crises; the impact of sanctions, export controls and other foreign asset or investment restrictions; failure to realize, or delays in the realization of anticipated benefits of acquisitions and divestitures due to, among other things, the existence of unknown liabilities or difficulty integrating acquired businesses; our ability to attract and retain management and skilled technical personnel; our ability to protect our proprietary technology from infringement by third parties and/or allegations that our technology infringes third party rights; changes in effective tax rates or tax laws and regulations in the jurisdictions in which we operate; failure to comply with financial and restrictive covenants in our credit agreement or restrictions on our operational and financial flexibility due to such covenants; the outcome of ongoing and future litigation, including our asbestos-related product liability litigation; changes in environmental laws and regulations applicable to our business; and disruptions in, or breaches of, our information technology systems. 如果任何风险和不确定性发展为实际事件，这些发展可能对公司产生重大不利影响。我们的前瞻性声明明确符合这些警戒性声明的条件，您应该仔细考虑。如需了解关于这些风险、不确定性以及可能影响我们业务的其他因素，请参阅我们在 10-K 表中的最新年度报告以及向美国证券交易委员会提交的所有后续报告，包括 10-Q 表中的季度报告。Rogers Corporation assumes no responsibility to update or revise any forward-looking statements contained herein, whether as a result of new information, future events or otherwise, except as required by law.
投资者联系方式：
Steve Haymore
电话：480-917-6026
电子邮箱：stephen.haymore@rogerscorporation.com
网站地址：https://www.rogerscorp.com
