Slide 1: Q3 2025 Earnings Call
Q3 2025 Earnings Call OCTOBER 29, 2025 1
Slide 2: Forward-looking statements
Forward-looking statements Safe Harbor Statement Statements included in this presentation 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 193
Slide 3: Non-GAAP and Additional Information
Non-GAAP and Additional Information 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 operating expenses, which the Company defines
Slide 4: Key Messages For The Quarter
Key Messages For The Quarter • Deliver sustainable commercial and operational improvements Critical Initiatives • Prioritization of innovation pipeline • Sales, gross margin and adjusted EPS results at high-end of guidance Q3 Results • Portable electronics, industrial and A&D sales improved QoQ 2 •
Slide 5: Executing on Critical Initiatives
Executing on Critical Initiatives Near-Term Medium Term Intensify customer focus to improve Fully leverage existing capacity to New product introductions targeting Growth service and anticipate current and increase competitiveness and thermal management and signal Objectives future needs grow sha
Slide 6: Q3 2025 Sales By End Market
Q3 2025 Sales By End Market Market % of Sales 1 Comments versus Q2’25 results Industrial 28% Sales improved for the third consecutive quarter with growth in all regions Higher sales led by N. America commercial aerospace demand as defense A&D 16% sales remained strong Sales consistent versus the pri
Slide 7: Q3 2025 Financial Summary
Q3 2025 Financial Summary (in millions, except for EPS) Q3 2025 Q2 2025 Net sales $216.0 $202.8 AES sales +5.2%. Higher EV/HEV and industrial end markets Gross margin $72.3 $64.0 EMS sales +8.7%. Improved portable electronics, Gross margin % 33.5% 31.6% A&D and industrial end markets Net income (los
Slide 8: Q3 2025 Adjusted EBITDA
Q3 2025 Adjusted EBITDA* ($ in millions) $2.6 $2.5 $2.2 $3.2 $3.1 $0.2 17.3% $37.2 $23.9 11.8% 17.2% Q2'25 Volume Mix New factory Operational Adjusted Other income Q3'25 utilization excellence operating (expense) expenses 1 H i gh e r S al e s A n d Co st Re d u c tio ns Le adi ng To 540 BP S Im p r
Slide 9: Q3 2025 Cash Utilization
Q3 2025 Cash Utilization ($ in millions) $37.2 $7.1 $7.7 $3.4 $10.0 $12.6 $157.2 $167.8 Jun 30, 2025 Adj. EBITDA1 Capex Working capital Cash taxes Share Restructuring and Sep 30, 2025 Cash change 2 paid repurchases other Cash G e n e rate d $29M Of Op e rati n g Cas h F l o w A n d $21M Of F re e Ca
Slide 10: Q4 2025 Guidance
Q4 2025 Guidance Guidance Q4 2025 Net Sales $190M to $205M Gross Margin 30.0% to 32.0% Earnings Per Diluted Share1 $0.00 to $0.40 Adjusted Earnings Per Diluted Share2 $0.40 to $0.80 1 - Earnings per diluted share includes expected restructuring charges for certain manufacturing operations in Europe.
Slide 11: Appendix
\ Appendix ROGERS CORPORATION, i
Slide 12: Q3 2025: Adjusted Operating Expenses Reconciliation
Q3 2025: Adjusted Operating Expenses Reconciliation* ($ in millions) Q3 2025 Q3 2025 Q2 2025 Q2 2025 GAAP Operating Expenses and Margin $56.7 26.3% $131.5 64.8% Acquisitions and Divestiture Related Costs: Acquisitions and Related Integration Costs - - - - Dispositions - - - - Intangible Amortization
Slide 13: Q3 2025: Adjusted Earnings Per Diluted Share Reconciliation
Q3 2025: Adjusted Earnings Per Diluted Share Reconciliation Q3 2025 Q2 2025 GAAP Earnings (Loss) Per Diluted Share $0.48 ($4.00) Acquisitions and Divestiture Related Costs: Acquisitions and Related Integration Costs - - Dispositions - - Intangible Amortization $0.15 $0.15 (Gain) Loss on Sale or Disp
Slide 14: Q3 2025: Adjusted EBITDA and Margin Reconciliation
Q3 2025: Adjusted EBITDA and Margin Reconciliation ($ in millions) Q3 2025 Q2 2025 GAAP Net Income (Loss) $8.6 ($73.6) Acquisitions and Divestiture Related Costs: Acquisition and Related Integration Costs - - Dispositions - - Intangible Amortization $2.8 $2.7 (Gain) Loss on Sale or Disposal of PPE -
Slide 15: Q3 2025: Free Cash Flow Reconciliation
Q3 2025: Free Cash Flow Reconciliation ($ in millions) Q3 2025 Q2 2025 Net Cash Provided By Operating Activities $28.9 $13.7 Non-Acquisition Capital Expenditures ($7.7) ($8.1) Free Cash Flow $21.2 $5.6 Note: dollars may not add due to rounding. 15 *Free cash flow defined as net cash provided by oper
Slide 16: Q4 2025: Guidance Reconciliation
Q4 2025: Guidance Reconciliation Q4 2025 GAAP Earnings Per Diluted Share $0.00 to $0.40 Intangible Amortization $0.11 Other Adjustments* $0.29 Adjusted Earnings Per Diluted Share $0.40 to $0.80 *Other Adjustments is mainly comprised of expected restructuring charges for certain manufacturing operati