Chandler, Arizona, February 17, 2025: Rogers Corporation (NYSE:ROG) today announced financial results for the full year and fourth quarter of 2025.
"Solid execution led to sales, gross margin and adjusted earnings per share that approached or exceeded the high-end of guidance for the fourth quarter,” stated Ali El-Haj, Rogers' Interim President and CEO. "We are encouraged that the benefits of cost improvement initiatives implemented in recent quarters are contributing to significantly higher adjusted earnings per share compared with the same period last year.”
"Rogers enters 2026 in a strong position with a streamlined operating structure, an enhanced innovation strategy, and a healthy balance sheet which we expect will enable a return to growth and meaningfully improved results for shareholders."
| GAAP Results (dollars in millions, except per share amounts) | Q4 2025 | Q3 2025 | Q4 2024 | 2025 | 2024 |
|---|---|---|---|---|---|
| Net Sales | $201.5 | $216.0 | $192.2 | $810.8 | $830.1 |
| Gross Margin | 31.5% | 33.5% | 32.1% | 31.7% | 33.4% |
| Net Income (Loss) | $4.6 | $8.6 | $(0.5) | $(61.8) | $26.1 |
| Diluted Earnings (Loss) Per Share | $0.26 | $0.48 | $(0.03) | $(3.40) | $1.40 |
| Adjusted Earnings Per Diluted Share 1 | $0.89 | $0.90 | $0.46 | $2.39 | $2.72 |
| Adjusted EBITDA 1 | $34.4 | $37.2 | $23.3 | $115.0 | $118.7 |
| Net Cash Provided by Operating Activities | $46.9 | $28.9 | $33.7 | $101.2 | $127.1 |
| Free Cash Flow 1 | $42.2 | $21.2 | $18.3 | $71.1 | $71.0 |
1 Adjusted Earnings Per Diluted Share, Adjusted EBITDA and Free Cash Flow are non-GAAP measures. A reconciliation of non-GAAP to GAAP measures is provided in the schedules included below.
Net sales of $201.5 million increased 4.8% versus the prior year quarter primarily from higher industrial, ADAS and renewable energy sales. Currency exchange rates favorably affected total Company net sales in the fourth quarter of 2025 by $3.7 million compared to the fourth quarter of 2024.
GAAP earnings per diluted share were $0.26 compared to a loss per share of $(0.03) in Q4 2024. On an adjusted basis, earnings were $0.89 per diluted share compared to earnings of $0.46 per diluted share in the prior year quarter. The improvement in adjusted earnings resulted from higher sales and lower operating expenses.
Fourth quarter ending cash and cash equivalents were $197.0 million, an increase of $29.2 million compared to the prior quarter. Net cash provided by operating activities was $46.9 million and increased by $18.0 million due to lower inventories and other working capital improvements. Share repurchases totaled $14.3 million and capital expenditures were $4.7 million.
At the mid-point of the guidance for the first quarter of 2026 the Company expects 5% sales growth, a 160 basis point improvement in gross margin and a 530 basis point increase in adjusted EBITDA margin, compared to Q1 2025.
| (dollars in millions, except per share amounts) | Q1 2026 |
|---|---|
| Net Sales | $193 to $208 |
| Gross Margin | 30.5% to 32.5% |
| Adjusted Earnings Per Diluted Share | $0.45 to $0.85 |
| Adjusted EBITDA | $27 to $35 |
| 2026 | |
|---|---|
| Capital Expenditures | $30 to $40 |
A conference call to discuss the results for the fourth quarter and full year will take place today, Tuesday, February 17, 2026 at 5:00 pm ET. A live webcast of the event and the accompanying presentation can be accessed on the Rogers Corporation website at https://www.rogerscorp.com/investors.
Rogers Corporation (NYSE:ROG) is a global leader in engineered materials to power, protect and connect our world. Rogers delivers innovative solutions to help our customers solve their toughest material challenges. Rogers’ advanced electronic and elastomeric materials are used in applications for EV/HEV, automotive safety and radar systems, mobile devices, renewable energy, wireless infrastructure, energy-efficient motor drives, industrial equipment and more. Headquartered in Chandler, Arizona, Rogers operates manufacturing facilities in the United States (U.S.), Asia and Europe, with sales offices worldwide.
Statements included in this release that are not a description of historical facts are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. 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. Forward-looking statements are based on assumptions and beliefs that we believe to be reasonable; however, assumed facts almost always vary from actual results, and the differences between assumed facts and actual results could be material depending upon the circumstances. Where we express an expectation or belief as to future results, that expectation or belief is expressed in good faith and based on assumptions believed to have a reasonable basis. We cannot assure you, however, that the stated expectation or belief will occur or be achieved or accomplished. This release contains forward-looking statements regarding our plans, objectives, outlook, goals, strategies, future events, future net sales or performance, capital expenditures, future restructuring, plans or intentions relating to expansions, business trends and other information that is not historical information. All forward-looking statements are based upon information available to us on the date of this release and are subject to risks, uncertainties and other factors, many of which are outside of our control, which could cause actual results to differ materially from those indicated by the forward-looking statements. Other risks and uncertainties that could cause such results to differ include the following, without limitation: failure to capitalize on, volatility within, or other adverse changes with respect to growth opportunities, such as delays in adoption or implementation of new technologies; uncertain business, economic and political conditions in the U.S. and abroad, particularly in China, Germany, England, Belgium, South Korea and Hungary, where we maintain significant manufacturing, sales or administrative operations; the global trade policy dynamics between nations reflected in trade agreement negotiations, imposition of tariffs and other trade restrictions, as well as the potential for global 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 that 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. Should any risks and uncertainties develop into actual events, these developments could have a material adverse effect on the Company. Our forward-looking statements are expressly qualified by these cautionary statements, which you should consider carefully. For additional information about the risks, uncertainties and other factors that may affect our business, please see our most recent annual report on Form 10-K and any subsequent reports filed with the Securities and Exchange Commission, including quarterly reports on Form 10-Q. 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.
Steve Haymore
Phone: 480-917-6026
Email: stephen.haymore@rogerscorporation.com
Website Address: https://www.rogerscorp.com
