$ROG

ROGERS CORP

CIK:0000084748|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Net sales	$ 216.8	$ 202.8	$ 417.3	$ 393.3
Cost of sales	146.4	138.8	282.3	272.3
Gross margin	70.4	64.0	135.0	121.0
Selling, general and administrative expenses	42.2	48.5	83.4	93.0
Research and development expenses	7.3	7.0	14.0	14.1
Restructuring and impairment charges	0.7	76.1	6.6	82.0
Other operating (income) expense, net	0.2	(0.1)	0.3	(0.3)
Operating income (loss)	20.0	(67.5)	30.7	(67.8)
Other income (expense), net	1.1	(2.2)	1.4	(3.8)
Interest income, net	0.3	0.4	0.6	0.7
Income (loss) before income taxes	21.4	(69.3)	32.7	(70.9)
Income tax expense	7.8	4.3	14.6	4.1
Net income (loss)	$ 13.6	$ (73.6)	$ 18.1	$ (75.0)
Basic earnings (loss) per share (in dollars per share)	$ 0.76	$ (4.00)	$ 1.02	$ (4.08)
Diluted earnings (loss) per share (in dollars per share)	$ 0.76	$ (4.00)	$ 1.01	$ (4.08)
Shares used in computing:
Basic earnings (loss) per share (in shares)	17.9	18.4	17.8	18.4
Diluted earnings (loss) per share (in shares)	18.0	18.4	17.9	18.4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating Activities:
Net income (loss)	$ 18,100	$ (75,000)
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization	26,600	26,500
Equity compensation expense	4,300	7,900
Deferred income taxes	2,300	(3,600)
Impairment charges	200	71,800
Other non-cash charges, net	(200)	400
Changes in assets and liabilities:
Accounts receivable	(20,200)	(100)
Contract assets	300	200
Inventories, net	(6,200)	(2,800)
Other current assets	(6,500)	(4,600)
Accounts payable and other accrued expenses	20,600	6,200
Other, net	(9,100)	(1,500)
Net cash provided by operating activities	30,200	25,400
Investing Activities:
Capital expenditures	(10,800)	(17,700)
Proceeds from the sale of property, plant and equipment, net	0	13,400
Proceeds from the sale of marketable equity securities	600	1,000
Purchases of short-term investments and marketable equity securities	(30,100)	(100)
Net cash used in investing activities	(40,300)	(3,400)
Financing Activities:
Payments of finance lease obligations	(900)	(800)
Payments of taxes related to net share settlement of equity awards	(1,300)	(1,400)
Proceeds from issuance of shares to employee stock purchase plan	600	700
Share repurchases	(3,000)	(28,100)
Net cash used in financing activities	(4,600)	(29,600)
Effect of exchange rate fluctuations on cash	(900)	5,000
Net decrease in cash and cash equivalents	(15,600)	(2,600)
Cash and cash equivalents at beginning of period	197,000	159,800
Cash and cash equivalents at end of period	181,400	157,200
Supplemental Disclosures:
Accrued capital additions	3,100	3,900
Interest, net of amounts capitalized	800	600
Income taxes, net of refunds	$ 12,400	$ 13,400

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Unaudited) - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Current assets
Cash and cash equivalents	$ 181.4	$ 197.0
Short-term investments	30.0	0.0
Accounts receivable, net	149.2	130.6
Contract assets	27.1	27.9
Inventories, net	130.0	125.0
Asbestos-related insurance recoverables, current portion	4.7	4.7
Other current assets	21.2	14.8
Total current assets	543.6	500.0
Property, plant and equipment, net	358.2	372.4
Operating lease right-of-use assets	17.7	19.2
Goodwill	301.1	303.4
Intangible assets, net of accumulated amortization	93.2	99.3
Asbestos-related insurance recoverables, non-current portion	48.0	48.1
Deferred income taxes	64.7	67.0
Other long-term assets	19.9	20.5
Total assets	1,446.4	1,429.9
Current liabilities
Accounts payable	63.1	42.9
Accrued employee benefits and compensation	35.5	43.2
Accrued income taxes payable	9.2	10.2
Operating lease obligations, current portion	4.0	3.9
Asbestos-related liabilities, current portion	5.5	5.5
Other accrued liabilities	19.0	20.4
Total current liabilities	136.3	126.1
Operating lease obligations, non-current portion	16.6	17.9
Asbestos-related liabilities, non-current portion	51.6	51.9
Non-current income tax	5.1	4.8
Deferred income taxes	17.5	17.7
Other long-term liabilities	14.6	15.8
Commitments and contingencies (Note 9)
Shareholders’ equity
Capital stock - $1 par value; 50.0 authorized shares; 17.9 and 17.8 shares issued and outstanding	17.9	17.8
Additional paid-in capital	106.3	105.7
Retained earnings	1,137.4	1,119.3
Accumulated other comprehensive loss	(56.9)	(47.1)
Total shareholders' equity	1,204.7	1,195.7
Total liabilities and shareholders' equity	$ 1,446.4	$ 1,429.9