Did Rogers Corporation beat Q4 2025 earnings?

Rogers delivered Adj EPS of $0.89, nearly doubling from $0.46 in Q4 2024 (+93% YoY). Revenue of $201.5M grew 4.8% YoY, approaching the high end of guidance. However, the stock fell 4.3% on Q1 2026 guidance below consensus.

What is Rogers Corporation's Q1 2026 guidance?

Rogers guided Q1 2026 revenue of $193-208M (midpoint $200.5M vs $206.4M consensus) and Adj EPS of $0.45-0.85 (midpoint $0.65 vs $0.75 consensus), expecting 5% sales growth and 160bps gross margin improvement YoY.

Why did Rogers stock drop after earnings?

Despite strong Q4 results, ROG fell 4.3% as Q1 2026 guidance came in below Street expectations — revenue guidance midpoint is ~3% below consensus and EPS guidance midpoint is ~13% below consensus.

ROGERS (ROG)·Q4 2025 Earnings Summary

Rogers Corporation Delivers Strong Q4 Earnings, Stock Drops 4% on Q1 Guidance

February 17, 2026 · by Fintool AI Agent

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Rogers Corporation (NYSE: ROG) reported Q4 2025 results that highlighted the benefits of recent cost restructuring efforts, with adjusted EPS nearly doubling year-over-year. Despite the strong quarter, shares fell 4.3% to $103.13 as Q1 2026 guidance came in below consensus expectations.

Did Rogers Beat Earnings?

Rogers delivered a solid beat relative to prior year comparisons and exceeded its own guidance:

Metric	Q4 2025	Q4 2024	YoY Change
Revenue	$201.5M	$192.2M	+4.8%
Gross Margin	31.5%	32.1%	-60bps
GAAP EPS	$0.26	$(0.03)	NM
Adjusted EPS	$0.89	$0.46	+93%
Adjusted EBITDA	$34.4M	$23.3M	+48%
Free Cash Flow	$42.2M	$18.3M	+130%

Source: Rogers Corporation 8-K

Key drivers of the improvement:

Higher industrial, ADAS, and renewable energy sales
Lower operating expenses from cost improvement initiatives
Favorable FX impact of $3.7M vs Q4 2024

Interim CEO Ali El-Haj noted: "Solid execution led to sales, gross margin and adjusted earnings per share that approached or exceeded the high-end of guidance for the fourth quarter. We are encouraged that the benefits of cost improvement initiatives implemented in recent quarters are contributing to significantly higher adjusted earnings per share compared with the same period last year."

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What Did Management Guide?

Rogers issued Q1 2026 guidance that trailed Street expectations:

Metric	Q1 2026 Guidance	Consensus	Gap
Revenue	$193-208M	$206.4M*	-3% at midpoint
Gross Margin	30.5-32.5%	—	—
Adj. EPS	$0.45-0.85	$0.75*	-13% at midpoint
Adj. EBITDA	$27-35M	—	—

*Values retrieved from S&P Global

At guidance midpoint, management expects:

5% sales growth vs Q1 2025
160bps gross margin improvement vs Q1 2025
530bps adjusted EBITDA margin expansion vs Q1 2025

For full year 2026, capital expenditures are expected at $30-40M.

CEO El-Haj struck an optimistic tone for the year ahead: "Rogers enters 2026 in a strong position with a streamlined operating structure, an enhanced innovation strategy, and a healthy balance sheet which we expect will enable a return to growth and meaningfully improved results for shareholders."

How Did the Stock React?

ROG shares fell 4.3% to $103.13 following the earnings release, despite the strong Q4 results. The selloff reflects investor disappointment with Q1 2026 guidance trailing consensus:

Pre-earnings close: $107.79
Post-earnings: $103.13 (down $4.66)
Intraday range: $102.46 - $106.29
Volume: 301,483 shares (elevated)

The stock had rallied from a 52-week low of $51.43 to recent highs near $112.81, making it vulnerable to any guidance disappointment. At $103, ROG trades at a market cap of ~$1.85B.

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What Changed From Last Quarter?

Improving trends:

Revenue sequentially declined to $201.5M from $216.0M in Q3 (typical seasonal pattern), but YoY comparisons turned positive (+4.8%)
Adjusted EBITDA margin held steady at 17.1% vs 17.2% in Q3
Free cash flow surged to $42.2M from $21.2M in Q3, driven by working capital improvements
Cash position increased $29.2M to $197.0M

Full Year 2025 Summary:

Metric	FY 2025	FY 2024	Change
Revenue	$810.8M	$830.1M	-2.3%
Gross Margin	31.7%	33.4%	-170bps
GAAP EPS	$(3.40)	$1.40	NM
Adj. EPS	$2.39	$2.72	-12%
Adj. EBITDA	$115.0M	$118.7M	-3.1%
Free Cash Flow	$71.1M	$71.0M	Flat

Source: Rogers Corporation 8-K

The full year GAAP loss of $(3.40) per share was driven by $97.1M in restructuring, severance, impairment, and other related costs, compared to $24.1M in 2024.

Balance Sheet & Capital Allocation

Rogers ended Q4 2025 with a clean balance sheet:

Item	Q4 2025	Q4 2024
Cash & Equivalents	$197.0M	$159.8M
Total Debt	$0	$0
Total Equity	$1,195.7M	$1,251.6M
Share Repurchases (Q4)	$14.3M	—

Source: Rogers Corporation 8-K

The company maintained its debt-free status while returning capital to shareholders through $14.3M in share repurchases during Q4. Shares outstanding declined to 17.8M from 18.5M a year ago.

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Key End Markets

Rogers serves several high-growth markets with its engineered materials:

EV/HEV: Power electronics substrates and thermal management
Automotive Safety (ADAS): Radar and sensor materials
Renewable Energy: Materials for solar and energy storage
Wireless Infrastructure: 5G antenna and circuit materials
Industrial Equipment: Motor drives and power conversion

Q4 sales growth was driven by higher industrial, ADAS, and renewable energy volumes.

Risks and Considerations

Management's forward-looking statements highlighted several risks:

Trade policy dynamics: Tariffs and global supply chain decoupling concerns
Geographic concentration: Significant operations in China, Germany, and other international markets
Customer concentration: Exposure to adoption timing of new technologies
Currency risk: FX fluctuations impact results
Asbestos litigation: Ongoing legacy liability

What to Watch

Near-term catalysts:

Q1 2026 results (late April) — will guidance prove conservative?
ADAS adoption rates in automotive
Renewable energy/EV demand trajectory
Further cost optimization benefits

Conference call: February 17, 2026 at 5:00 PM ET. Webcast available on IR site.