Shares of Rogers Corp. (ROG) fell around 8% in Wednesday's after-hours following its fourth-quarter results and guidance for the first quarter.
For the first quarter of 2025, the company expects net results to be between a loss of $0.26 per share and earnings of $0.04 per share. Excluding items, earnings are expected between $0.10 and $0.40 per share in the three-month period.
Net sales for the first quarter are projected to be between $180 million and $195 million, lesser than $213.4 million reported during the same period last year.
The specialty engineered materials company posted net loss of $0.5 million or $0.03 per share in its latest quarter, compared with net income of $23.2 million or $1.24 per share in the same period last year.
Further, Colin Gouveia, Rogers' CEO commented, "Many of our customers remain cautious about the timing of a recovery in the EV/HEV and industrial markets."
Adjusted earnings for the period came in at $8.6 million or $0.46 per share, compared to $11.3 million or $0.60 per share in the prior-year quarter. On average, analysts polled by Thomson Reuters had expected earnings of $0.44 per share.
Quarterly revenues touched $192.2 million, down from $204.6 million in the same period last year.
On the NYSE, the stock was trading at $83.03 in the after-hours on Wednesday, down 7.6%. ROG closed Wednesday's trade at $89.88.
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