亚利桑那州钱德勒市 2024 年 4 月 25 日：Rogers Corporation (NYSE:ROG) today announced financial results for the first quarter of 2024.
"We are encouraged by the improving demand that we saw in the first quarter, which resulted in sales near the top end of our guidance expectations,” stated Colin Gouveia, Rogers' President and CEO. "Aerospace and defense sales were strong in the first quarter and after a prolonged downturn, the outlook for the general industrial market is improving with lower customer inventory levels and positive order trends. We expect overall sales to improve further in the coming quarters, tempered by some markets which continue to face near-term inventory challenges. We remain intently focused on driving improved profitability and cash flow, while also ensuring we are positioned to grow as demand strengthens."
| GAAP Results (dollars in millions, except per share amounts) | 2024 年第一季度 | 2023 年第四季度 | 2023 年第一季度 |
|---|---|---|---|
| Net Sales | $213.4 | $204.6 | $243.8 |
| 毛利率 | 32.0% | 32.9% | 32.7% |
| 经营利润率 | 5.5% | 14.9% | (0.1%) |
| Net Income (Loss) | $7.8 | $23.2 | $(3.5) |
| 净收入（亏损）利润率 | 3.7% | 11.3% | (1.4)% |
| Diluted Earnings (Loss) Per Share | $0.42 | $1.24 | $(0.19) |
| 经营活动提供的现金净额 | $28.1 | $71.9 | $1.8 |
| Non-GAAP Results1 (dollars in millions, except per share amounts) | 2024 年第一季度 | 2023 年第四季度 | 2023 年第一季度 |
|---|---|---|---|
| 调整后经营利润率 | 7.5% | 6.3% | 10.5% |
| Adjusted Net Income | $10.9 | $11.3 | $16.2 |
| 调整后摊薄每股收益 | $0.58 | $0.60 | $0.87 |
| Adjusted EBITDA | $28.3 | $23.4 | $35.1 |
| 调整后 EBITDA 利润率 | 13.3% | 11.4% | 14.4% |
| Free Cash Flow | $18.7 | $49.4 | $(14.6) |
| 按经营部门划分的销售净额（百万美元） | 2024 年第一季度 | 2023 年第四季度 | 2023 年第一季度 |
|---|---|---|---|
| 先进电子解决方案 (AES) | $122.1 | $117.3 | $135.9 |
| 高弹体材料解决方案 (EMS) | $85.7 | $83.4 | $102.2 |
| 其他 | $5.6 | $3.9 | $5.7 |
1 - 下文包含的明细表提供了 GAAP 与非 GAAP 计量数量的对账
Net sales of $213.4 million increased 4.3% versus the prior quarter resulting from higher sales in the AES and EMS business units. AES net sales increased by 4.1% primarily related to higher aerospace and defense (A&D), wireless infrastructure, industrial and renewable energy sales, partially offset by lower EV/HEV and ADAS sales. EMS net sales increased by 2.8% primarily from higher general industrial, A&D and EV/HEV sales, partially offset by seasonally lower portable electronics sales. Currency exchange rates favorably impacted total company net sales in the first quarter of 2024 by $1.6 million compared to the prior quarter.
Gross margin decreased to 32.0% from 32.9% in the prior quarter due to unfavorable product mix, partially offset by higher sales volumes.
Selling, general and administrative (SG&A) expenses decreased by $4.3 million from the prior quarter to $47.5 million. The lower SG&A expense was due primarily to a decrease in professional service fees, compensation costs and other administrative expenses.
GAAP operating margin of 5.5% decreased from 14.9% in the prior quarter. Operating margin declined primarily due to a decrease in other operating income, partially offset by lower SG&A expenses. Other operating income was higher in the fourth quarter mainly related to a $24.0 million insurance recovery received in connection with the fire that occurred at the UTIS facility in 2021. Adjusted operating margin of 7.5% increased by 120 basis points versus the prior quarter.
GAAP earnings per diluted share were $0.42 compared to earnings per diluted share of $1.24 in the previous quarter. The decrease in GAAP earnings per diluted share was due to lower operating income, partially offset by lower tax expense. On an adjusted basis, earnings were $0.58 per diluted share compared to adjusted earnings of $0.60 per diluted share in the prior quarter.
Ending cash and cash equivalents were $116.9 million, an decrease of $14.8 million versus the prior quarter. Net cash provided by operating activities in the first quarter was $28.1 million and capital expenditures were $9.4 million. A principal payment of $30.0 million was made on the remaining outstanding borrowings under the Company’s revolving credit facility.
| (dollars in millions, except per share amounts) | Q2 2024 |
|---|---|
| Net Sales | $210 to $220 |
| 毛利率 | 32.5% 至 33.5% |
| 每股摊薄收益 | $0.34 to $0.54 |
| 调整后每股摊薄收益 | 0.50 至 0.70 美元 |
| 2024 | |
|---|---|
| Capital Expenditures | $60 to $70 |
1 - 下文包含的明细表提供了 GAAP 与非 GAAP 计量数量的对账
讨论第一季度业绩的电话会议将于今天 星期四, 2024 年 4 月 25 日 美国东部时间 下午 05:00 召开。可通过罗杰斯公司网站观看会议的网络直播并浏览随附演示文稿：https://www.rogerscorp.com/investors。
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。罗杰斯总部位于亚利桑那州钱德勒市，在美国、亚洲和欧洲都设有制造工厂，销售办事处遍布全球。
此文稿中包含的非历史事实描述的内容属于前瞻性内容。诸如“相信”、“可能”、“能够”、“将”、“估计”、“继续”、“预期”、“打算”、“寻求”、“计划”、“期望”、“应该”、“会”或类似表达的词语或短语旨在标识前瞻性内容，并基于罗杰斯当前的信念和期望。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：未能充分利用公司的增长动力，有关公司增长动力的不稳定性或其他不利变化，例如，延迟采用或实施新技术；未能成功执行我们作为一家独立公司的长期发展战略；美国和国外（尤其是中国、韩国、德国、比利时、英国和匈牙利，我们在这些国家有大量制造、销售或行政业务）的商业、经济和政治形势的不确定性；反映在贸易协议谈判、关税征收和其他贸易限制的美中贸易政策动态，以及中美供应链脱钩的可能性；反映在贸易协议谈判、关税征收和其他贸易限制的美中贸易政策动态，以及中美供应链脱钩的可能性；外汇波动；我们开发创新产品的能力，我们的产品融入到最终用户产品和系统的程度，以及融合了我们产品的最终用户产品和系统实现商业成功的程度；我们的独家供应商或有限来源供应商以及时、经济高效的方式向我们交付某些关键原材料（包括商品）的能力和意愿；激烈的全球竞争，这可能影响我们的现有产品和目前开发中的产品；由于灾难或其他类似事件（如自然灾害、战争（包括俄罗斯与乌克兰之间的持续冲突）、恐怖主义或公共健康危机）造成的业务中断；制裁、出口管制和其他外国资产或投资限制的影响；因存在未知负债或已收购业务整合困难等原因，未能实现或延迟实现收购和资产剥离的预期收益；我们吸引和留住管理人员和资深技术人员的能力；我们防止专有技术不受第三方侵权的能力和/或避免我们的技术受到指控称侵犯第三方权利的能力；我们业务经营所在司法管辖区的实际税率或税收法律和法规变更；未能遵守我们的信贷协定中的财务和限制性契约或该等契约对我们的经营和财务灵活性施加的限制；未决及未来诉讼的结果（包括我们的石棉相关产品的责任诉讼）或因杜邦合并 (Dupont Merger) 终止而产生的风险；适用于我们业务的环境法律法规的更改；我们的信息技术系统受到干扰或遭到破坏。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。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。对于本文所载前瞻性内容的更新，罗杰斯公司不承担任何责任，法律要求的情形除外。
Steve Haymore
电话：480-917-6026
电子邮箱：stephen.haymore@rogerscorporation.com
网站地址：https://www.rogerscorp.com
