Selected quotes from our recent earnings call. Read the corporate financials news release: Rogers Corporation Reports First Quarter 2018 Results

In Q1 2018, our net sales were $214.6 million, compared to 2017 first quarter net sales of $203.8 million.

Bruce Hoechner, CEO, on Growth Drivers

We have significant growth opportunities in our existing markets, particularly in advanced mobility and advanced connectivity, where the global outlook is strongly positive.

Strong growth in our Advanced Mobility markets, especially EV/HEV and ADAS, were highlights in the quarter. This strength was offset by lower demand in wireless infrastructure as the market transitions to 5G technology. As the 5G technology evolves, Rogers is seeing substantial design-ins and pilot installations around the world. We have significantly greater material content in these highly sophisticated systems. We are actively expanding capacity to support upcoming market demand.

Revenue mix and operational challenges largely in the Advanced Connectivity Solutions business were the primary factors contributing to our lower than anticipated margin performance during Q1. Our actions to resolve these operational issues, as well as the strong outlook in our key markets, give us confidence in our ability to achieve our 2020 objectives.

We remain focused on the four pillars of our proven growth strategy: market-driven, innovation leadership, synergistic M&A, and operational excellence.

Bruce Hoechner, CEO, on Rogers’ Business Units

Advanced Connectivity Solutions (ACS) reported 2018 first quarter net sales of $73.5 million, a 6.5% decrease compared to 2017 first quarter net sales of $78.5 million. The decrease in 2018 first quarter net sales was largely driven by lower demand in wireless 4G LTE, portable electronics and satellite TV applications, partially offset by continued strength in demand for automotive advanced driver assistance systems (ADAS) revenues. Looking ahead, most experts are projecting that 5G deployments will accelerate in the first half of 2019, with a diverse portfolio of solutions that offer support for very high frequencies and solve thermal issues. ACS is well positioned to capitalize on this evolution to more complex systems.

Elastomeric Material Solutions (EMS) reported 2018 first quarter net sales of $78.1 million, a 1.6% increase compared to 2017 first quarter net sales of $76.9 million. EMS net sales increased on higher demand in portable electronics, general industrial and electric and hybrid electric vehicles, partially offset by lower demand in mass transit and other applications. We are pleased with the traction EMS is gaining in a number of next-generation materials. These include battery pressure pads that enable cooling of EV/HEV batteries as well as unique ceiling solutions that protect the batteries from water, dust and other extreme environmental conditions. We expect demand in this market to continue as more EV and HEV models are introduced.

Power Electronics Solutions (PES) reported 2018 first quarter net sales of $57.7 million, a 35.3% increase compared to 2017 first quarter net sales of $42.7 million. 2018 first quarter net sales increased due to broad based demand across markets, including particular strength in electric and hybrid electric vehicles, renewable energy and laser diode coolers. As these markets expand and the technology requirements become more challenging, the PES solutions portfolio is uniquely positioned to address this complexity.

 

Q1 2018 Earnings Call Full Transcript 

Q1 2018 Financial Press Release

Q1 2018 Earnings Call Slides

One Response to From the CEO: Rogers Corp Announces Q1 2018 Financials

  1. Teri Green says:

    Just want to say that we use poron in our foot products and they really make a huge difference in the comfort level of those who use them. Great product line. Hope for continued success in your foot comfort line.

    Teri Green
    Atlas Biomechanics

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