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Rogers Corporation (ROG) delivers engineered materials and advanced electronics solutions powering global industries from clean energy to automotive systems. This news hub provides investors and professionals with authoritative updates on corporate developments shaping the industrial technology sector.
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Rogers Corporation (NYSE:ROG) announced its evaluation of options following DuPont's termination of their merger agreement dated November 1, 2021. The company emphasizes its ongoing commitment to a robust growth strategy, noting strong performance in markets like EV/HEV, supported by numerous design wins and customer engagement. Rogers positions itself as a leader in engineered materials across various sectors, with a focus on innovative solutions. The company also highlights potential risks associated with the merger, including disruptions and uncertainties impacting its business operations.
DuPont and Rogers provided an update on their pending merger, initially expected to close in Q3 2022. All regulatory approvals are met except for the State Administration for Market Regulation of China, where DuPont has refiled the merger notice. The merger, valued at $277 per share, was approved by Rogers' shareholders on January 25, 2022. Both companies aim to complete the merger as soon as regulatory approval is secured.
Rogers Corporation (NYSE:ROG) reported a 1.5% increase in Q2 2022 net sales to $252 million, driven by demand in the EV/HEV, defense, and portable electronics markets. Gross margins slightly decreased to 34.3% due to raw material supply constraints. GAAP earnings were $0.94 per diluted share, up from $0.87 in Q1, despite inflationary pressures and operational challenges. The company’s pending acquisition by DuPont at $277 per share remains a key focus. Ending cash and equivalents rose to $225.3 million, reflecting a strong operational cash flow of $2 million.
Rogers Corporation (NYSE:ROG) reported Q1 2022 financial results, achieving net sales of $248.3 million, marking a 7.7% increase from the previous quarter, primarily driven by EV/HEV and ADAS sales, despite challenges from COVID-19 and supply chain issues. Gross margin improved to 34.4%, while GAAP earnings per diluted share fell to $0.87 due to higher tax expenses. The company is actively preparing for its acquisition by DuPont, valued at $277.00 per share, which is anticipated to enhance growth opportunities for stakeholders.
Rogers Corporation (NYSE: ROG) reported financial results for Q4 and full-year 2021, showcasing record revenue driven by EV/HEV market growth. Q4 net sales were $230.5 million, a 3.3% decrease from Q3, impacted by supply chain challenges. The company's gross margin for Q4 was 33.9%, down from 38.5% in Q3. Full-year net sales reached $932.9 million, up 16.2% from 2020. The company is navigating ongoing supply issues and costs related to its acquisition by DuPont, approved by shareholders. Ending cash stood at $232.3 million, while free cash flow was $(9.5) million for Q4.
DuPont (NYSE: DD) reported a strong financial performance for Q4 and full year 2021, achieving net sales of $4.3 billion, a 14% increase year-over-year, and $16.7 billion for the year, up 16%. The company benefited from strategic pricing actions and strong demand in sectors like electronics and water. GAAP EPS for Q4 was $0.47, down from $0.60, primarily due to higher expenses. DuPont announced a new $1 billion share buyback and a 10% increase in its quarterly dividend to $0.33 per share. The outlook for 2022 anticipates continued growth in sales and earnings despite raw material cost pressures.
Rogers Corporation (NYSE: ROG) reported Q3 2021 financial results, showing net sales of $238.3 million, a 1.4% increase from Q2 2021, driven by a 9.6% increase in its Elastomeric Material Solutions segment. Despite challenges due to chip shortages affecting the Advanced Electronics Solutions segment, the company maintained a gross margin of 38.5%. Additionally, Rogers announced a definitive merger agreement with DuPont at a price of $277 per share, expected to close in Q2 2022. The company will not hold a conference call or provide Q4 guidance.
Rogers Corporation (NYSE: ROG) has announced a definitive merger agreement with DuPont (NYSE: DD) in an all-cash transaction valued at approximately
DuPont reported third quarter 2021 financials, achieving net sales of $4.3 billion, an 18% increase year-over-year. The results reflect a strong demand across various sectors, leading to significant organic sales growth of 16%. GAAP EPS was $0.80, a substantial rise from $0.11 in the previous year. The company also announced a definitive agreement to acquire Rogers Corporation (ROG) and is exploring divestiture options for part of its Mobility & Materials segment. Adjusted free cash flow conversion reached 112%.
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