Rogers Corporation extends timeline to meet adjusted EPS target of $8.50-$9.50

As a result of persistent challenges in the global manufacturing economy and a lack of near-term visibility to the rate of growth in the electric vehicle market, the timeline to achieve the previously issued targets of $1.2 to $1.3 billion in sales, 38% to 40% gross margin, and adjusted earnings per share of $8.50 to $9.50 is being extended beyond 2025. Rogers expects to provide an update on the timing of achieving these targets once demand visibility has improved. “Our view of Rogers’ potential, and the compelling growth opportunities projected in our key markets, such as EV/HEV, has not changed,” stated Colin Gouveia, Rogers’ President and CEO. “As a result of current market challenges and the uncertain timing of EV growth, we are extending these targets beyond 2025. We continue to have great confidence in our strategy and capabilities, which will enable us to reach these objectives.”