Profit rebound and stronger outlook at Rogers Corp (NYSE: ROG) Q1 2026
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Rogers Corporation reported strong first quarter 2026 results, returning solid growth and profitability. Net sales reached $200.5 million, up 5.2% year over year, helped by a $7.9 million foreign currency benefit. Gross margin improved to 32.2%, reflecting better mix and cost control.
Net income was $4.5 million, compared with a $1.4 million loss a year earlier, and diluted earnings per share were $0.25 versus a loss of $0.08. Adjusted earnings per share rose to $0.75 from $0.27, and adjusted EBITDA increased to $32.0 million from $19.5 million, driven by higher sales, stronger margins and lower operating expenses.
The company ended the quarter with $195.8 million in cash and cash equivalents and generated $1.1 million of free cash flow. For the second quarter of 2026, Rogers forecasts net sales of $210–$220 million, gross margin of 32.5%–33.5%, adjusted EPS of $0.90–$1.10 and adjusted EBITDA of $35–$41 million.
Positive
- Strong profitability improvement: Net income improved from a $1.4 million loss in Q1 2025 to $4.5 million in Q1 2026, while adjusted EBITDA rose from $19.5 million to $32.0 million and adjusted EBITDA margin increased from 10.2% to 16.0%.
- Robust non-GAAP earnings growth with constructive guidance: Adjusted EPS nearly tripled year over year, rising from $0.27 to $0.75, and the company guided Q2 2026 adjusted EPS to $0.90–$1.10 with higher expected net sales and margins.
Negative
- None.
Insights
Rogers delivered a sharp profit rebound with upbeat Q2 2026 guidance.
Rogers Corporation posted Q1 2026 net sales of $200.5 million, up 5.2% year over year, with gross margin expanding to 32.2% from 29.9%. Net income swung to $4.5 million from a $1.4 million loss, showing clear operating leverage.
Non-GAAP metrics strengthened further: adjusted EBITDA rose to $32.0 million from $19.5 million, and adjusted EPS increased to $0.75 from $0.27, helped by improved gross margin and lower operating expenses. Adjusted EBITDA margin reached 16.0%, up from 10.2% a year earlier.
Management’s outlook for Q2 2026 calls for net sales of $210–$220 million, adjusted EPS of $0.90–$1.10 and adjusted EBITDA of $35–$41 million, indicating expectations for continued growth and margin resilience. Subsequent filings may provide more color on end-market demand, especially in automotive versus industrial and communications.
8-K Event Classification
3 items: 2.02, 7.01, 9.01
3 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 7.01
Regulation FD Disclosure
Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Net sales: $200.5 million
Gross margin: 32.2%
Net income: $4.5 million
+5 more
8 metrics
Net sales
$200.5 million
Q1 2026; up 5.2% year over year
Gross margin
32.2%
Q1 2026; increased from 29.9% in Q1 2025
Net income
$4.5 million
Q1 2026; versus $1.4 million loss in Q1 2025
Diluted EPS
$0.25
Q1 2026; versus $(0.08) in Q1 2025
Adjusted EPS
$0.75
Q1 2026; up from $0.27 in Q1 2025
Adjusted EBITDA
$32.0 million
Q1 2026; up from $19.5 million in Q1 2025
Free cash flow
$1.1 million
Q1 2026; net cash from operations $5.8M minus $4.7M capex
Q2 2026 net sales guidance
$210–$220 million
Management outlook for Q2 2026
Key Terms
Adjusted EBITDA, Adjusted earnings per diluted share, Free cash flow, non-GAAP financial measures, +1 more
5 terms
Adjusted EBITDA financial
"Adjusted EBITDA of $32.0 million increased by $12.5 million YoY"
Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.
Free cash flow financial
"Free cash flow, which the Company defines as net cash provided by operating activities less non-acquisition capital expenditures"
Free cash flow is the amount of money a company has left over after paying all its expenses and investing in its business, like buying equipment or updating facilities. It shows how much cash is available to reward shareholders, pay down debt, or save for future growth. This helps investors understand if a company is financially healthy and able to grow.
non-GAAP financial measures financial
"This earnings release includes the following financial measures that are not presented in accordance with generally accepted accounting principles"
Non-GAAP financial measures are numbers companies use to show their financial performance that exclude certain expenses or income. They help investors see how the company might perform without one-time costs or other unusual items, giving a different perspective from official reports. However, since they can be adjusted, they don’t always tell the full story and should be looked at alongside standard financial figures.
forward-looking statements regulatory
"Statements included in this release that are not a description of historical facts are “forward-looking statements”"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
Earnings Snapshot
Net sales: $200.5 million · Guidance included
Q1 2026
Net sales
$200.5 million
+5.2% YoY
Net income
$4.5 million
from $(1.4) million in Q1 2025
Diluted EPS
$0.25
from $(0.08) in Q1 2025
Adjusted EPS
$0.75
from $0.27 in Q1 2025
Adjusted EBITDA
$32.0 million
from $19.5 million in Q1 2025
Adjusted EBITDA margin
16.0%
from 10.2% in Q1 2025
Guidance
For Q2 2026, Rogers guides net sales to $210–$220 million, gross margin to 32.5%–33.5%, adjusted EPS to $0.90–$1.10, and adjusted EBITDA to $35–$41 million.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of report (Date of earliest event reported): April 28, 2026
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||||||||
(Address of principal executive offices) (Zip Code)
(480 ) 917-6000
Registrant’s telephone number, including area code
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act:
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | |||||||||
par value $1.00 per share | |||||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition.
Item 7.01 Regulation FD Disclosure.
In a press release dated April 28, 2026 , Rogers Corporation (the “Company”) announced its first quarter 2026 results. A copy of that press release is furnished herewith as Exhibit 99.1 and incorporated herein to these Items 2.02 and 7.01 by reference.
All information in this Form 8-K and the Exhibits attached hereto, including guidance or any other forward-looking statements, speaks as of April 28, 2026 , and the Company undertakes no duty to update this information to reflect subsequent events, actual results or changes in the Company’s expectations, unless required by law.
The information in Items 2.02 and 7.01 of this Form 8-K and the Exhibits attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| Exhibit No. | Description | |||||||
| 99.1 | Press release issued by Rogers Corporation on April 28, 2026. | |||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
ROGERS CORPORATION | |||||||||||||||||||||||
(Registrant) | |||||||||||||||||||||||
Date: | By: | /s/ Laura Russell | |||||||||||||||||||||
| Laura Russell | |||||||||||||||||||||||
Senior Vice President, Chief Financial Officer and Treasurer Principal Financial Officer | |||||||||||||||||||||||
Rogers Corporation Reports First Quarter 2026 Results
•Net sales of $200.5 million increased 5.2% year-over-year (YoY)
•Gross margin of 32.2% increased 230 basis points YoY
•Net income of $4.5 million increased by $5.9 million YoY
•Adjusted EBITDA of $32.0 million increased by $12.5 million YoY
•Diluted earnings per share of $0.25 increased by $0.33 YoY
•Adjusted earnings per share of $0.75 increased by $0.48 YoY
Chandler, Arizona, April 28, 2026: Rogers Corporation (NYSE:ROG) today announced financial results for the first quarter of 2026.
"Our consistent execution continued in the first quarter with results that met or exceeded the mid-point of guidance across all financial metrics,” stated Ali El-Haj, Rogers' Interim President and CEO. "We also achieved meaningful improvement in profitability with adjusted earnings per share more than doubling and adjusted EBITDA margin expanding by 580 basis points year over year.”
"The first quarter results together with our stronger second quarter guidance, demonstrates the progress of our commercial and profitability improvement initiatives, which continue to gain momentum. With key products in development that address needs in growing markets, and a strong balance sheet that provides strategic flexibility, we are well positioned to capitalize on compelling market opportunities ahead."
Financial Overview
GAAP Results (dollars in millions, except per share amounts) | Q1 2026 | Q4 2025 | Q1 2025 | ||||||||
| Net Sales | $200.5 | $201.5 | $190.5 | ||||||||
| Gross Margin | 32.2% | 31.5% | 29.9% | ||||||||
| Net Income (Loss) | $4.5 | $4.6 | $(1.4) | ||||||||
| Diluted Earnings (Loss) Per Share | $0.25 | $0.26 | $(0.08) | ||||||||
Adjusted Earnings Per Diluted Share1 | $0.75 | $0.89 | $0.27 | ||||||||
Adjusted EBITDA1 | $32.0 | $34.4 | $19.5 | ||||||||
| Net Cash Provided by Operating Activities | $5.8 | $46.9 | $11.7 | ||||||||
Free Cash Flow1 | $1.1 | $42.2 | $2.1 | ||||||||
1 - Adjusted Earnings Per Diluted Share, Adjusted EBITDA and Free Cash Flow are non-GAAP measures. A reconciliation of non-GAAP to GAAP
measures is provided in the schedules included below.
Q1 2026 Summary of Results
Net sales of $200.5 million increased 5.2%, or $10.0 million, versus the first quarter of 2025, inclusive of a $7.9 million foreign currency benefit due to the appreciation of the euro and Chinese yuan relative to the U.S. dollar. By end market, industrial, and electronics and communications sales increased, while automotive sales declined.
GAAP earnings per diluted share were $0.25 compared to a loss per share of $(0.08) in Q1 2025. On an adjusted basis, earnings were $0.75 per diluted share compared to earnings of $0.27 per diluted share in the prior year quarter. There was minimal foreign currency benefit to adjusted earnings per share. The improvement in adjusted earnings resulted from higher sales, improvements in gross margin and lower operating expenses.
First quarter ending cash and cash equivalents were $195.8 million, a decrease of $1.2 million compared to the prior quarter. Net cash provided by operating activities was $5.8 million and capital expenditures were $4.7 million.
1
Financial Outlook
| (dollars in millions, except per share amounts) | Q2 2026 | ||||
| Net Sales | $210 to $220 | ||||
| Gross Margin | 32.5% to 33.5% | ||||
| Adjusted Earnings Per Diluted Share | $0.90 to $1.10 | ||||
| Adjusted EBITDA | $35 to $41 | ||||
| 2026 | |||||
| Capital Expenditures | $30 to $40 | ||||
Conference Call and Additional Information
A conference call to discuss the results for the first quarter will take place today, Tuesday, April 28, 2026 at 5:00 pm ET. A live webcast of the event and the accompanying presentation can be accessed on the Rogers Corporation website at https://www.rogerscorp.com/investors.
About Rogers Corporation
Rogers Corporation (NYSE:ROG) is a global leader in engineered materials to power, protect and connect our world. Rogers delivers innovative solutions to help our customers solve their toughest material challenges. Rogers’ advanced electronic and elastomeric materials are used in applications for EV/HEV, automotive safety and radar systems, mobile devices, renewable energy, wireless infrastructure, energy-efficient motor drives, industrial equipment and more. Headquartered in Chandler, Arizona, Rogers operates manufacturing facilities in the United States (U.S.), Asia and Europe, with sales offices worldwide.
2
Safe Harbor Statement
Statements included in this release 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 1934, as amended. Such statements are generally accompanied by words or phrases such as “anticipate,” “assume,” “believe,” “could,” “estimate,” “expect,” “foresee,” “goal,” “intend,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “should,” “seek,” “target” or similar expressions that convey uncertainty as to the future events or outcomes. Forward-looking statements are based on assumptions and beliefs that we believe to be reasonable; however, assumed facts almost always vary from actual results, and the differences between assumed facts and actual results could be material depending upon the circumstances. Where we express an expectation or belief as to future results, that expectation or belief is expressed in good faith and based on assumptions believed to have a reasonable basis. We cannot assure you, however, that the stated expectation or belief will occur or be achieved or accomplished. This release contains forward-looking statements regarding our plans, objectives, outlook, goals, strategies, future events, future net sales or performance, capital expenditures, future restructuring, plans or intentions relating to expansions, business trends and other information that is not historical information. All forward-looking statements are based upon information available to us on the date of this release and are subject to risks, uncertainties and other factors, many of which are outside of our control, which could cause actual results to differ materially from those indicated by the forward-looking statements. Other risks and uncertainties that could cause such results to differ include the following, without limitation: failure to capitalize on, volatility within, or other adverse changes with respect to growth opportunities, such as delays in adoption or implementation of new technologies; uncertain business, economic and political conditions in the U.S. and abroad, particularly in China, Germany, England, Belgium, South Korea and Hungary, where we maintain significant manufacturing, sales or administrative operations; the global trade policy dynamics between nations reflected in trade agreement negotiations, imposition of tariffs and other trade restrictions, as well as the potential for global supply chain decoupling; fluctuations in foreign currency exchange rates; our ability to develop innovative products and the extent to which they are incorporated into end-user products and systems that achieve commercial success; the ability and willingness of our sole or limited source suppliers to deliver certain key raw materials, including commodities, to us in a timely and cost-effective manner; business interruptions due to catastrophes or other similar events, such as natural disasters, war, terrorism or public health crises; the impact of sanctions, export controls and other foreign asset or investment restrictions; failure to realize, or delays in the realization of anticipated benefits of acquisitions and divestitures due to, among other things, the existence of unknown liabilities or difficulty integrating acquired businesses; our ability to attract and retain management and skilled technical personnel; our ability to protect our proprietary technology from infringement by third parties and/or allegations that our technology infringes third party rights; changes in effective tax rates or tax laws and regulations in the jurisdictions in which we operate; failure to comply with financial and restrictive covenants in our credit agreement or restrictions on our operational and financial flexibility due to such covenants; the outcome of ongoing and future litigation, including our asbestos-related product liability litigation; changes in environmental laws and regulations applicable to our business; and disruptions in, or breaches of, our information technology systems. Should any risks and uncertainties develop into actual events, these developments could have a material adverse effect on the Company. Our forward-looking statements are expressly qualified by these cautionary statements, which you should consider carefully. For additional information about the risks, uncertainties and other factors that may affect our business, please see our most recent annual report on Form 10-K and any subsequent reports filed with the Securities and Exchange Commission, including quarterly reports on Form 10-Q. Rogers Corporation assumes no responsibility to update or revise any forward-looking statements contained herein, whether as a result of new information, future events or otherwise, except as required by law.
Investor Contact:
Steve Haymore
Phone: 480-917-6026
Email: stephen.haymore@rogerscorporation.com
Website Address: https://www.rogerscorp.com
(Financial statements follow)
3
Condensed Consolidated Statements of Operations (Unaudited)
(DOLLARS AND SHARES IN MILLIONS, EXCEPT PER SHARE AMOUNTS)
| Three Months Ended | |||||||||||
| March 31, 2026 | March 31, 2025 | ||||||||||
| Net sales | $ | 200.5 | $ | 190.5 | |||||||
| Cost of sales | 135.9 | 133.5 | |||||||||
| Gross margin | 64.6 | 57.0 | |||||||||
| Selling, general and administrative expenses | 41.2 | 44.5 | |||||||||
| Research and development expenses | 6.7 | 7.1 | |||||||||
| Restructuring and impairment charges | 5.9 | 5.9 | |||||||||
| Other operating (income) expense, net | 0.1 | (0.2) | |||||||||
| Operating income (loss) | 10.7 | (0.3) | |||||||||
| Other income (expense), net | 0.3 | (1.6) | |||||||||
| Interest income, net | 0.3 | 0.3 | |||||||||
| Income (loss) before income taxes | 11.3 | (1.6) | |||||||||
| Income tax (benefit) expense | 6.8 | (0.2) | |||||||||
| Net income (loss) | $ | 4.5 | $ | (1.4) | |||||||
| Basic earnings (loss) per share | $ | 0.25 | $ | (0.08) | |||||||
| Diluted earnings (loss) per share | $ | 0.25 | $ | (0.08) | |||||||
| Shares used in computing: | |||||||||||
| Basic earnings (loss) per share | 17.8 | 18.5 | |||||||||
| Diluted earnings (loss) per share | 17.9 | 18.5 | |||||||||
4
Condensed Consolidated Statements of Financial Position (Unaudited)
| (DOLLARS AND SHARES IN MILLIONS, EXCEPT PAR VALUE) | March 31, 2026 | December 31, 2025 | |||||||||
| Assets | |||||||||||
| Current assets | |||||||||||
| Cash and cash equivalents | $ | 195.8 | $ | 197.0 | |||||||
| Accounts receivable, net | 142.1 | 130.6 | |||||||||
| Contract assets | 25.9 | 27.9 | |||||||||
| Inventories, net | 127.5 | 125.0 | |||||||||
| Asbestos-related insurance recoverables, current portion | 4.7 | 4.7 | |||||||||
| Other current assets | 15.4 | 14.8 | |||||||||
| Total current assets | 511.4 | 500.0 | |||||||||
| Property, plant and equipment, net of accumulated depreciation | 363.9 | 372.4 | |||||||||
| Operating lease right-of-use assets | 18.5 | 19.2 | |||||||||
| Goodwill | 301.2 | 303.4 | |||||||||
| Intangible assets, net of accumulated amortization | 95.8 | 99.3 | |||||||||
| Asbestos-related insurance recoverables, non-current portion | 48.1 | 48.1 | |||||||||
| Deferred income taxes | 67.8 | 67.0 | |||||||||
| Other long-term assets | 19.8 | 20.5 | |||||||||
| Total assets | $ | 1,426.5 | $ | 1,429.9 | |||||||
| Liabilities and Shareholders’ Equity | |||||||||||
| Current liabilities | |||||||||||
| Accounts payable | $ | 52.8 | $ | 42.9 | |||||||
| Accrued employee benefits and compensation | 37.1 | 43.2 | |||||||||
| Accrued income taxes payable | 9.9 | 10.2 | |||||||||
| Operating lease obligations, current portion | 4.0 | 3.9 | |||||||||
| Asbestos-related liabilities, current portion | 5.5 | 5.5 | |||||||||
| Other accrued liabilities | 18.0 | 20.4 | |||||||||
| Total current liabilities | 127.3 | 126.1 | |||||||||
| Operating lease obligations, non-current portion | 17.5 | 17.9 | |||||||||
| Asbestos-related liabilities, non-current portion | 51.8 | 51.9 | |||||||||
| Non-current income tax | 5.0 | 4.8 | |||||||||
| Deferred income taxes | 17.5 | 17.7 | |||||||||
| Other long-term liabilities | 14.7 | 15.8 | |||||||||
| Shareholders’ equity | |||||||||||
Capital stock - $1 par value; 50.0 authorized shares; 17.8 and 17.8 shares issued and outstanding, respectively | 17.8 | 17.8 | |||||||||
| Additional paid-in capital | 106.1 | 105.7 | |||||||||
| Retained earnings | 1,123.8 | 1,119.3 | |||||||||
| Accumulated other comprehensive loss | (55.0) | (47.1) | |||||||||
| Total shareholders' equity | 1,192.7 | 1,195.7 | |||||||||
| Total liabilities and shareholders' equity | $ | 1,426.5 | $ | 1,429.9 | |||||||
5
Reconciliation of non-GAAP financial measures to the comparable GAAP measures
Non-GAAP Financial Measures:
This earnings release 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 earnings per diluted share, which the Company defines as earnings (loss) per diluted share excluding acquisition and related integration costs, dispositions, intangible amortization, (gains) losses on the sale or disposal of property, plant and equipment, restructuring, severance, impairment and other related costs, asbestos-related charges (credits), and the related income tax effect on these items, and charges to income tax expense for valuation allowances on deferred tax assets generated in prior years, divided by adjusted weighted average shares outstanding - diluted;
(2) Adjusted EBITDA, which the Company defines as net income (loss) excluding acquisition and related integration costs, dispositions, intangible amortization, (gains) losses on the sale or disposal of property, plant and equipment, restructuring, severance, impairment and other related costs, asbestos-related charges (credits), interest income (expense), net, income tax (benefit) expense , depreciation of fixed assets, and equity compensation expense;
(3) Adjusted EBITDA margin, which the Company defines as the percentage that results from dividing Adjusted EBITDA by total net sales;
(4) Free cash flow, which the Company defines as net cash provided by operating activities less non-acquisition capital expenditures.
Management believes adjusted earnings per diluted share, adjusted EBITDA and adjusted EBITDA margin are useful to investors because they allow for comparison to the Company’s performance in prior periods without the effect of items that, by their nature, tend to obscure the Company’s core operating results due to potential variability across periods based on the timing, frequency and magnitude of such items. As a result, management believes that these measures enhance the ability of investors to analyze trends in the Company’s business and evaluate the Company’s performance relative to peer companies. Management also believes free cash flow is useful to investors as an additional way of viewing the Company's liquidity and provides a more complete understanding of factors and trends affecting the Company's cash flows. However, non-GAAP financial measures have limitations as analytical tools and should not be considered in isolation from, or as alternatives to, financial measures prepared in accordance with GAAP. In addition, these non-GAAP financial measures may differ from, and should not be compared to, similarly named measures used by other companies. Reconciliations of the differences between these non-GAAP financial measures and their most directly comparable financial measures calculated in accordance with GAAP are set forth below.
The Company provides quarterly guidance for adjusted earnings per diluted share and adjusted EBITDA on a non-GAAP basis only. The forward-looking comparable GAAP measures and a reconciliation of adjusted earnings per share and adjusted EBITDA to GAAP are excluded in reliance upon the exception provided by Item 10(e)(1)(i)(B) of Regulation S-K due to the inherent difficulty in forecasting and quantifying, without unreasonable efforts, certain reconciling items. These include, among other things, adjustments that could be made for acquisition and related integration costs, dispositions, intangible amortization, (gains) losses on the sale or disposal of property, plant and equipment, restructuring, severance, impairment and other related costs, asbestos-related charges (credits), and charges to income tax expense for valuation allowances on deferred tax assets generated in prior years, and other charges reflected in the Company’s reconciliations of historic numbers, the amount of which, based on historical experience, could be significant.
6
Reconciliation of GAAP Earnings (Loss) Per Diluted Share to Adjusted Earnings Per Diluted Share*:
| 2026 | 2025 | ||||||||||
| Q1 | Q4 | Q1 | |||||||||
| GAAP Earnings (Loss) Per Diluted Share | $ | 0.25 | $ | 0.26 | $ | (0.08) | |||||
| Acquisition & Divestiture Related Costs: | |||||||||||
| Acquisition & Related Integration Costs | — | — | — | ||||||||
| Intangible Amortization | 0.15 | 0.16 | 0.15 | ||||||||
| (Gain) Loss on Sale or Disposal of PPE | — | — | — | ||||||||
| Restructuring, Business Realignment & Other Cost Saving Initiatives: | |||||||||||
| Restructuring, Severance, Impairment & Other Related Costs | 0.33 | 0.44 | 0.32 | ||||||||
| Asbestos-Related Charges (Credits) | — | — | — | ||||||||
| Valuation Allowances against Deferred Tax Assets | — | (0.05) | — | ||||||||
| Estimated Income Tax Impacts of Adjustments | 0.02 | 0.09 | (0.11) | ||||||||
| Impact of Including Dilutive Securities | — | — | — | ||||||||
| Total Adjustments | $ | 0.50 | $ | 0.64 | $ | 0.35 | |||||
| Adjusted Earnings Per Diluted Share | $ | 0.75 | $ | 0.89 | $ | 0.27 | |||||
*Values in table may not add due to rounding.
The following table reconciles weighted average shares outstanding - diluted under US GAAP to adjusted weighted average shares outstanding - diluted used in the calculation of adjusted diluted EPS:
| 2026 | 2025 | ||||||||||
| (shares in millions) | Q1 | Q4 | Q1 | ||||||||
| Weighed average shares outstanding - diluted | 17.9 | 18.0 | 18.5 | ||||||||
| Dilutive effect of awards under equity compensation plans | — | — | — | ||||||||
| Adjusted weighted average shares outstanding - diluted | 17.9 | 18.0 | 18.5 | ||||||||
7
Reconciliation of GAAP Net Income (Loss) to Adjusted EBITDA*:
| 2026 | 2025 | ||||||||||
| (dollars in millions) | Q1 | Q4 | Q1 | ||||||||
| GAAP Net Income (Loss) | $ | 4.5 | $ | 4.6 | $ | (1.4) | |||||
| Acquisition & Divestiture Related Costs: | |||||||||||
| Acquisition & Related Integration Costs | — | — | — | ||||||||
| Dispositions | — | — | — | ||||||||
| Intangible Amortization | 2.7 | 2.8 | 2.7 | ||||||||
| (Gain) Loss on Sale or Disposal of PPE | — | — | — | ||||||||
| Restructuring, Business Realignment & Other Cost Saving Initiatives: | |||||||||||
| Restructuring, Severance, Impairment & Other Related Costs | 5.9 | 8.0 | 5.9 | ||||||||
| Asbestos-Related Charges (Credits) | — | — | — | ||||||||
| Interest (Income) Expense, net | (0.3) | 0.1 | (0.3) | ||||||||
| Income Tax (Benefit) Expense | 6.8 | 4.9 | (0.2) | ||||||||
| Depreciation | 10.7 | 11.8 | 9.2 | ||||||||
| Equity Compensation | 1.7 | 2.2 | 3.6 | ||||||||
| Total Adjustments | $ | 27.5 | $ | 29.8 | $ | 20.9 | |||||
| Adjusted EBITDA | $ | 32.0 | $ | 34.4 | $ | 19.5 | |||||
*Values in table may not add due to rounding.
Calculation of Adjusted EBITDA margin*:
| 2026 | 2025 | ||||||||||
| (dollars in millions) | Q1 | Q4 | Q1 | ||||||||
| Adjusted EBITDA | $ | 32.0 | $ | 34.4 | $ | 19.5 | |||||
| Divided by Total Net Sales | 200.5 | 201.5 | 190.5 | ||||||||
| Adjusted EBITDA Margin | 16.0 | % | 17.1 | % | 10.2 | % | |||||
Reconciliation of Net Cash Provided By Operating Activities to Free Cash Flow:
| 2026 | 2025 | ||||||||||
| (dollars in millions) | Q1 | Q4 | Q1 | ||||||||
| Net Cash Provided By Operating Activities | $ | 5.8 | $ | 46.9 | $ | 11.7 | |||||
| Non-Acquisition Capital Expenditures | (4.7) | (4.7) | (9.6) | ||||||||
| Free Cash Flow | $ | 1.1 | $ | 42.2 | $ | 2.1 | |||||
# # # #
8
FAQ
How did Rogers Corporation (ROG) perform financially in Q1 2026?
Rogers Corporation delivered solid Q1 2026 results, with net sales of $200.5 million, up 5.2% year over year. Net income was $4.5 million versus a $1.4 million loss a year earlier, and diluted EPS improved from a loss of $0.08 to earnings of $0.25.
What were Rogers Corporation’s key profitability metrics for Q1 2026?
Profitability strengthened meaningfully in Q1 2026. Gross margin increased to 32.2% from 29.9% a year earlier. Adjusted EBITDA rose to $32.0 million from $19.5 million, and adjusted EBITDA margin expanded to 16.0% from 10.2%, reflecting better mix and cost discipline.
How did Rogers Corporation’s non-GAAP earnings change in Q1 2026?
Non-GAAP earnings improved significantly. Adjusted earnings per diluted share reached $0.75 in Q1 2026, up from $0.27 in Q1 2025. The increase was driven by higher sales, improved gross margin and lower operating expenses, with minimal foreign currency benefit to adjusted EPS.
What guidance did Rogers Corporation provide for Q2 2026?
For Q2 2026, Rogers expects net sales between $210 million and $220 million, gross margin of 32.5% to 33.5%, adjusted earnings per diluted share of $0.90 to $1.10, and adjusted EBITDA between $35 million and $41 million, indicating anticipated continued growth and margin strength.
How strong is Rogers Corporation’s balance sheet after Q1 2026?
Rogers ended Q1 2026 with $195.8 million in cash and cash equivalents and total assets of $1,426.5 million. Total shareholders’ equity was $1,192.7 million, providing a substantial equity base and liquidity to support operations, capital expenditures and strategic initiatives.
What was Rogers Corporation’s free cash flow in Q1 2026?
Free cash flow for Q1 2026 was $1.1 million, calculated as $5.8 million of net cash provided by operating activities less $4.7 million of non-acquisition capital expenditures. This compares with $2.1 million in free cash flow generated in the first quarter of 2025.