Rogers Corporation announced its first-quarter 2025 financial results, with net sales of $190.5 million, a 10.7% decrease year-over-year and a 0.9% sequential decline. The company reported a GAAP diluted loss per share of $(0.08) and adjusted diluted earnings per share (EPS) of $0.27, which was consistent with its guidance expectations.
Gross margin for the quarter was 29.9%, a decrease from 32.1% in the prior quarter, primarily due to utilization headwinds and an unfavorable product mix. Despite these pressures, Rogers strengthened its balance sheet, ending the quarter with $175.6 million in cash and cash equivalents, an increase of $15.8 million from year-end 2024, partly due to $13.4 million from the sale of a manufacturing facility.
The company reiterated its commitment to cost reduction initiatives, targeting $25 million in net savings for 2025, with a $32 million annual run rate. This includes $10 million from a global workforce reduction and $7 million to $9 million annually from consolidating high-frequency circuit material manufacturing operations in Belgium. For the second quarter of 2025, Rogers expects net sales between $190 million and $205 million and adjusted EPS between $0.30 and $0.70.
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