CHANDLER, AZ – Rogers reported sales of $214.2 million in the second quarter, down 7.2% from 2023's second quarter.

The company said its Elastomeric Material Solutions unit saw sales increase by 10.5% in the quarter, primarily from higher EV/HEV and portable electronics sales and partially offset by slightly lower aerospace and defense sales. Advanced Electronics Solutions sales decreased by 5.4% primarily related to lower EV/HEV, industrial and A&D sales, partially offset by higher wireless infrastructure sales.

"Solid execution contributed to results that were in line with our second quarter expectations," said Colin Gouveia, president and CEO, Rogers. "Sales were near the mid-point of our Q2 guidance, as stronger portable electronics and wireless infrastructure revenues were tempered by lower general industrial demand. We achieved record quarterly sales of our leading EV battery solutions, but overall EV/HEV results were mixed as power substrate sales declined due to elevated customer inventory levels. Stronger gross margin results drove higher earnings and reflect the structural cost improvements we have implemented in recent quarters. We remain intently focused on executing our strategy to grow the business and drive significant margin and profitability improvements."

For the third quarter, the company forecasts sales of $215 million to $225 million.

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