Rogers (ROG) Q1 2026 earnings summary

Executive summary

• Q1 2026 net sales reached $200.5–$201 million, up 5–5.2% year-over-year, driven by industrial and electronics/communications growth, with automotive sales declining.

• Gross margin improved to 32.2%, up 230 basis points year-over-year, and adjusted EBITDA margin expanded by 580 basis points to 16%.

• Adjusted EPS more than doubled to $0.75, a 178% increase year-over-year.

• Net income was $4.5 million, reversing a prior year loss.

• Key focus areas include new design wins in automotive radar, EV battery, and ADAS, ongoing R&D, and operational cost improvements.

Financial highlights

• Net sales increased by $10 million year-over-year, including a $7.9 million foreign currency benefit.

• Adjusted EBITDA was $32 million, with margin up 580 basis points to 16%.

• Cash and cash equivalents at quarter-end were $195.8–$196 million; operating cash flow was $5.8 million.

• Free cash flow for Q1 2026 was $1.1 million.

• Capital expenditures in Q1 were $4.7 million; full-year CapEx guidance is $30–$40 million.

Outlook and guidance

• Q2 2026 net sales guidance is $210–$220 million, a 6% year-over-year increase at the midpoint.

• Gross margin expected at 32.5%–33.5%, up 140 basis points from prior year.

• Adjusted EPS forecasted at $0.90–$1.10, with a midpoint of $1.00.

• Adjusted EBITDA guidance is $35–$41 million, with a midpoint margin of 17.7%.

• Full-year 2026 capital expenditures expected at $30–$40 million.