Slide 1: Q1 2025 Earnings Call
Q1 2025 Earnings Call APRIL 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: Q1 2025 Summary
Q1 2025 Summary Financial Results: • Q1 results were in line with expectations • Sales of $190.5 million and adjusted EPS of $0.27 • Balance sheet remains strong with a net cash position of $176 million • Minimal impact in Q1 from recent tariff announcements Commercial Update: • New design wins in E
Slide 5: Q1 2025 End Market Results
Q1 2025 End Market Results Market % of Sales 1 Comments versus Q4’24 results Industrial 27% Sales improved at a low-single digit rate, led by EMS general industrial Sales declined due to continued inventory destocking in the power module space EV/HEV 15% and cautious ordering from N. American custom
Slide 6: Direct Tariff Exposures (as of April 29, 2025)
Direct Tariff Exposures (as of April 29, 2025) United States China United States China Flow of Goods Flow of Goods U.S. Imposed 145% Tariff China Imposed 125% Tariff • Impacts a small number of raw materials and • Impacts some raw materials, WIP and finished finished goods goods • Minimal expected l
Slide 7: Cost Reduction Update
Cost Reduction Update Actions 2025 Savings Run Rate Savings Comments Footprint Optimization RFS manufacturing consolidation $3M $6M Belgium RFS wind down on-track R&D site consolidation $2M $3M Boston R&D center closure in 2024 Sale of Arizona RFS factory* N/A N/A $13M sale proceeds received in Q1 S
Slide 8: Q1 2025 Financial Summary
Q1 2025 Financial Summary (in millions, except for EPS) Q1 2025 Q4 2024 Commentary Commentary Net sales $190.5 $192.2 • Q1 2025 sales declined approximately 1% versus Gross margin $57.0 $61.7 the prior quarter, due to a $3 million impact from foreign currency fluctuations and Gross margin % 29.9% 32
Slide 9: Q1 2025 Revenue Results
Q1 2025 Revenue Results Revenue By Operating Segment QoQ* ($ in millions) +1.8% • AES: Higher ADAS and A&D sales partially -4.3% $102.4 $104.2 offset by lower EV/HEV sales. Unfavorable $86.3 $82.6 foreign currency of $1.9 million. • EMS: Lower portable electronics, A&D, and EV/HEV sales partially of
Slide 10: Q1 2025 Gross Margin and Adjusted EBITDA
Q1 2025 Gross Margin and Adjusted EBITDA* Gross Margin Adjusted EBITDA* ($ in millions) ($ in millions) $61.7 $23.3 $57.0 32.1% $19.5 29.9% 12.1% 10.2% Q4'24 Q1'25 Q4'24 Q1'25 • Gross margin declined due to utilization headwinds and • Adjusted EBITDA declined due to lower gross margin unfavorable pr
Slide 11: Cash Utilization
Cash Utilization Net Cash Provided By Operating Activities $ 11.7 Net Cash Provided By Investing Activities $ 3.9 ($ in millions) Net Cash Used In Financing Activities $ (1.6) Effect Of Exchange Rate Fluctuations $ 1.8 Net Increase (Decrease) In Cash $ 15.8 $19.5 $1.5 $12.1 $9.6 $7.7 $159.8 $175.6 D
Slide 12: Capital Allocation Priorities Update
Capital Allocation Priorities Update • Investments in new capacity are largely complete Organic Growth • Further reducing 2025 CapEx range to $30 to $40 million • Increasing focus on share repurchases given strong cash position Return of Capital 2 • $104M remaining on current share repurchase author
Slide 13: Q2 2025 Guidance
Q2 2025 Guidance Guidance Q2 2025 Net Sales $190M to $205M Gross Margin 31.0% to 33.0% Earnings Per Diluted Share1 $0.00 to $0.40 Adjusted Earnings Per Diluted Share2 $0.30 to $0.70 • Guidance for the second quarter is based on global tariff policies in place as of April 29, 2025. • Rogers has imple
Slide 14: Key Priorities
Key Priorities 1 Execution Drive commercial and operational initiatives 2 Tariffs Execute robust plans to help mitigate tariff impacts Continue cost structure and operating efficiency 3 Operating Efficiency actions as warranted 4 Balance Sheet Maintain strong balance sheet to provide flexibility 14
Slide 15: Appendix
\ Appendix ROGERS CORPORATION 15
Slide 16: Q1 2025: Adjusted Operating Expenses Reconciliation
Q1 2025: Adjusted Operating Expenses Reconciliation* ($ in millions) Q1 2025 Q1 2025 Q4 2024 Q4 2024 GAAP Operating Expenses and Margin $57.3 30.1% $74.5 38.8% Acquisitions and Divestiture Related Costs: Acquisitions and Related Integration Costs - - ($0.2) (0.1%) Dispositions - - - - Intangible Amo
Slide 17: Q1 2025: Adjusted Earnings Per Diluted Share Reconciliation
Q1 2025: Adjusted Earnings Per Diluted Share Reconciliation Q1 2025 Q4 2024 GAAP Earnings (Loss) Per Diluted Share ($0.08) ($0.03) Acquisitions and Divestiture Related Costs: Acquisitions and Related Integration Costs - ($0.40) Dispositions - - Intangible Amortization $0.15 $0.17 (Gain) Loss on Sale
Slide 18: Q1 2025: Adjusted EBITDA and Margin Reconciliation
Q1 2025: Adjusted EBITDA and Margin Reconciliation ($ in millions) Q1 2025 Q4 2024 GAAP Net Income (Loss) ($1.4) ($0.5) Acquisitions and Divestiture Related Costs: Acquisition and Related Integration Costs - ($7.5) Dispositions - - Intangible Amortization $2.7 $3.1 (Gain) Loss on Sale or Disposal of
Slide 19: Q1 2025: Free Cash Flow Reconciliation
Q1 2025: Free Cash Flow Reconciliation ($ in millions) Q1 2025 Q4 2024 Net Cash Provided By Operating Activities $11.7 $33.7 Non-Acquisition Capital Expenditures ($9.6) ($15.4) Free Cash Flow $2.1 $18.3 Note: dollars may not add due to rounding. 19 *Free cash flow defined as net cash provided by ope
Slide 20: Q2 2025: Guidance Reconciliation
Q2 2025: Guidance Reconciliation Q2 2025 GAAP Earnings Per Diluted Share $0.00 to $0.40 Intangible Amortization $0.11 Other Adjustments* $0.19 Adjusted Earnings Per Diluted Share $0.30 to $0.70 *Other Adjustments is mainly comprised of expected restructuring charges associated with the wind-down of