21 Aug 2024
Business unit’s quarterly revenue grows 10% but dips marginally year-on-year
Chandler, Arizona – Rogers Corp. has reported stronger quarterly sales within its main elastomers business, helped by electric vehicle demand.
Elastomeric Materials Solutions (EMS) posted a marginal year-on-year decline in sales to $95 million for the three months to end of June, but revenue was up 10% sequentially, reported Rogers 25 July.
The gains were linked to higher EV/HEV and portable electronics sales, partially offset by slightly lower aerospace and defence (A&D) sales.
“We achieved record quarterly sales of our leading EV battery solutions, but overall EV/HEV results were mixed as power substrate sales declined,” explained president and CEO Colin Gouveia.
Overall, Rogers saw adjusted earnings (EBITDA) fall 27% to $32 million, but did not provide a breakdown of performance for each business unit.
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