Rogers Corporation - ROG STOCK NEWS

Rogers (NYSE: ROG) has released its 2024 Environmental, Social, and Governance (ESG) Report. The report showcases Rogers' commitment to sustainability and corporate responsibility, highlighting achievements in reducing energy consumption, greenhouse gas (GHG) emissions, and water usage. Key targets include a 20% reduction in Scope 1 and Scope 2 GHG emissions by 2030. Additionally, the report details Rogers' efforts in employee safety, development, and ethical governance, aligning with recognized sustainability frameworks such as those by the Sustainability Accounting Standards Board. The full report is available on the company's website.

Rogers (NYSE: ROG) announced plans to streamline operations and improve margins by consolidating advanced circuit materials manufacturing. The company will cease operations at its Evergem, Belgium factory by mid-2025, shifting production to facilities in China and the U.S. This move is projected to enhance annual operating profit by $7 to $9 million. However, the process will incur charges ranging from $18 to $28 million, including employee severance and shutdown expenses. The restructuring aims to boost customer service, factory utilization, and cost efficiency.

Rogers (NYSE: ROG) announced participation in two upcoming investor conferences. On June 17, 2024, Rogers will join the CL King Advanced Electronics Seminar with key executives hosting investor meetings and a fireside chat at 11:00 am EDT, available via live webcast and replay. On July 10, 2024, Rogers will attend the CJS Securities 24th Annual Summer Investor Conference in White Plains, NY, with key executives hosting meetings and a presentation, although no webcast will be available. Rogers specializes in advanced electronic and elastomeric materials for diverse applications including EV/HEV, automotive safety, radar systems, and renewable energy. Headquartered in Chandler, Arizona, Rogers operates globally with facilities in the US, Asia, and Europe.

Rogers (NYSE: ROG) announced its participation in two upcoming investor conferences. The company will attend the B. Riley Securities 24th Annual Institutional Investor Conference in Beverly Hills, CA, on May 23, 2024, and the Stifel 2024 Cross Sector Insight Conference in Boston, MA, on June 5, 2024. At the B. Riley event, Rogers will engage in a fireside chat at 1:00 pm PDT, though no webcast will be available. At the Stifel conference, the presentation begins at 9:10 am EDT, with a live webcast and replay accessible on Rogers' investor relations website. The management team will also hold one-on-one and small group meetings with investors at both events. Rogers specializes in engineered materials for various applications including EV/HEV, automotive safety, renewable energy, and more. The company is headquartered in Chandler, Arizona, with manufacturing facilities in the US, Asia, and Europe.

Rogers (ROG) reported strong Q1 2024 results with sales and EPS exceeding expectations. The Aerospace and defense sectors performed well, while the general industrial market outlook improved. The company aims for further sales growth and profitability enhancements. Net sales reached $213.4 million, with a 4.3% increase from the previous quarter. GAAP operating margin was 5.5%, whereas adjusted operating margin stood at 7.5%. Ending cash and cash equivalents were $116.9 million. The company projects Q2 2024 net sales of $210 to $220 million, gross margin of 32.5% to 33.5%, and earnings per diluted share of $0.34 to $0.54.

Rogers (NYSE:ROG) is set to announce its first quarter 2024 results on April 25, 2024, after the market closes. The conference call will feature President and CEO Colin Gouveia and CFO Ram Mayampurath. Investors can access the live webcast and presentation on the company's Investor Relations website.

Rogers Corporation (NYSE: ROG) announces a new factory in Monterrey, Mexico for advanced busbar manufacturing to support the growing demand in North America for electric and hybrid-electric vehicles, renewable energy, mass transit, and industrial markets. The facility is expected to be completed by late 2024, enhancing Rogers' ability to provide high-quality power distribution solutions and technical collaboration to its global customers.

Rogers Corporation (ROG) faces challenges in a tough economic environment but shows progress in cost improvements and new design wins. The company reported a decrease in net sales for Q4 2023 due to lower sales volumes in certain markets. Despite this, Rogers remains focused on executing its strategy and managing controllable factors. Financially, there was a decrease in gross margin and an increase in SG&A expenses, impacting operating margins. Adjusted operating margin and net income also saw declines. The company's full-year 2023 results reflected lower net sales but an improvement in gross margin. Rogers extended its financial targets beyond 2025 due to ongoing market challenges, particularly in the electric vehicle sector.

Rogers Corporation (ROG) is set to announce its Q4 and full year 2023 results on February 21, 2024, followed by a conference call hosted by the President and CEO, Colin Gouveia, and the CFO, Ram Mayampurath. The event will be live webcasted and a replay will be available on the Investor Relations website.