Slide 1: Q3 2021 Earnings Supplemental Materials
1 Q3 2021 Earnings Supplemental Materials Nov 2nd, 2021
Slide 2: Forward-looking statements
Forward-looking statements 2 Safe Harbor Statement Statements included in this presentation that are not a description of historical facts are forward-looking statements. Words or phrases such as “believe,” “may,” “could,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “seek,” “plan,” “expe
Slide 3: Non-GAAP and Additional Information
Non-GAAP and Additional Information 3 Non-GAAP Information This presentation includes the following financial measures that are not presented in accordance with generally accepted accounting principles in the United States of America (“GAAP”): (1) Adjusted net income, which the Company defines as ne
Slide 4: Q3 2021 Overview
Portable Electronics 10% Wireless Infrastructure 10% A&D 11% Industrial 19%Other 13% Clean Energy 10% Mass Transit 4% e-Mobility 15% ADAS 8% Q3 2021 Overview 4 Financials • Net sales: $238M, increased 1% QoQ • Gross margin: 38.5%, increased 30 basis points QoQ • EPS: $1.33, decreased 13% QoQ • Adjus
Slide 5: Silicone Engineering Acquisition Highlights
Silicone Engineering Acquisition 5 Highlights • Creates a dynamic advanced silicones platform in Rogers • Further strengthens Rogers’ ability to serve global customers with a European Center of Excellence • Highly complementary technologies • Synergistic opportunities for innovation in product devel
Slide 6: Market Outlook
Market Outlook 6 EV Transition Accelerating Robust Growth Outlook For ADAS • Latest projections show strong increase in long-term outlook for EV market growth • Full EVs growing at the fastest rate and provide the highest content opportunity • Strong long-term growth projected for the ADAS market dr
Slide 7: Q3 2021 Financial Highlights
Q3 2021 Financial Highlights 7 *Adjusted Operating Income defined as operating income excluding acquisition-related amortization of intangible assets and discrete items and Adjusted Operating Margin as operating margin excluding acquisition-related amortization of intangible assets and discrete item
Slide 8: Q3 2021 Revenue Results
$234.9 $238.3$3.8 $0.4 Q2'21 Volume & Other* Currency Q3'21 Q3 2021 Revenue Results EV and Portable Electronics Demand Driving Continued Sales Growth • Revenues of $238.3 million; +1.4% sequential growth • Volume & Other growth driven by higher EMS sales 8 ($ in m ill io n s) *Volume & Other of $6.4
Slide 9: Q3 2021 Gross Margin & Adjusted Net Income Results
$89.9 $91.7$2.6 $0.3 $1.1 Q2'21 Volume* & Other Performance & Other Supply Issues Q3'21 +2.9% (1.2%) +2.0% +0.3% $32.5 $30.9$0.3 $1.9 $0.0 Q2'21 Adj. Net Income** Adj Op Income** Other Inc./Exp.^ Income Tax Q3'21 Adj. Net Income** +0.9% (5.8%) (0.0%) 13.0% (4.9%) Q3 2021 Gross Margin & Adjusted Net
Slide 10: Cash Utilization
Cash Utilization Cash Increase Driven by Strong Adjusted EBITDA1 Performance 1 - See reconciliation of adjusted EBITDA to GAAP net income in the appendix. 2 - Debt represents proceeds from borrowings under revolving credit facility less repayment of debt principal and finance lease obligations. Fina
Slide 11: Summary
Continued sales growth driven by EV/HEV, portable electronics, clean energy and defense demand Continuing to address industry-wide supply chain challenges Robust EV and ADAS outlook; Strong traction with customer design wins and pipeline growth Investing aggressively to capitalize on EV/HEV and othe
Slide 12: Appendix
Appendix
Slide 13: Q3 2021: Adjusted operating margin reconciliation
13 Q3 2021: Adjusted operating margin reconciliation Note: percentages and dollars may not add due to rounding. ($ in millions) Q3-20($) Q3-20(%) Q2-21($) Q2-21(%) Q3-21($) Q3-21(%) GAAP operating margin $ 8.8 4.4% $ 35.7 15.2% $ 33.8 14.2% Restructuring, severance, impairment and other related cost
Slide 14: Q3 2021: Adjusted EBITDA and margin reconciliation
14 Q3 2021: Adjusted EBITDA and adjusted EBITDA margin reconciliation Note: percentages and dollars may not add due to rounding. ($ in millions) Q3-20($) Q2-21($) Q3-21($) GAAP net income $ 7.0 $ 28.7 $ 25.1 Interest expense, net $ 3.6 $ 0.4 $ 0.4 Income tax expense $ 0.6 $ 9.9 $ 9.0 Depreciation $
Slide 15: Q3 2021: Adjusted EPS reconciliation
Q3 2021: Adjusted EPS reconciliation 15Note: dollars may not add due to rounding. Q3-20($) Q2-21($) Q3-21($) GAAP earnings per diluted share $ 0.37 $ 1.52 $ 1.33 Restructuring, severance, impairment and other related costs $ 0.43 $ 0.04 $ 0.07 Acquisition and related integration costs $ 0.01 $ - $ 0
Slide 16: Q3 2021: Adjusted net income reconciliation
Q3 2021: Adjusted net income reconciliation 16Note: percentages and dollars may not add due to rounding. ($ in millions) Q3-20($) Q3-20(%) Q2-21($) Q2-21(%) Q3-21($) Q3-21(%) GAAP Net Income $ 7.0 3.5% $ 28.7 12.2% $ 25.1 10.5% Restructuring, severance, impairment and other related costs $ 10.7 5.3%
Slide 17: Q3 2021: Adjusted operating expenses reconciliation
17 Q3 2021: Adjusted operating expenses reconciliation* Note: percentages and dollars may not add due to rounding. *GAAP operating expenses include (i) selling, general and administrative expenses, (ii) research and development expenses, (iii) restructuring and impairment charges and (iv) other oper
Slide 18: Q3 2021: Free cash flow reconciliation
18 Q3 2021: Free cash flow reconciliation* Note: dollars may not add due to rounding. *Free cash flow defined as net cash provided by operating activities less non-acquisition capital expenditures per condensed consolidated statements of cash flows. ($ in millions) Q3-20($) Q2-21($) Q3-21($) Net cas