Rogers Corporation (NYSE: ROG), a leading manufacturer of specialty materials, witnessed a significant surge of 6.35% in its stock price during Thursday's pre-market trading session. This movement came in the wake of the company's fourth-quarter and full-year 2024 earnings release, which revealed a resilient performance despite facing challenging market conditions.
Although Rogers reported a 9% year-over-year decline in full-year 2024 revenue, reaching $830 million, and a dip in adjusted earnings per share from $3.78 in 2023 to $2.72 in 2024, the company managed to meet analysts' expectations for the fourth quarter. Notably, Rogers achieved robust free cash flow conversion and maintained a strong cash position of $160 million at the end of 2024, positioning itself favorably for future growth initiatives.
Despite the headwinds faced in the industrial and electric vehicle markets, Rogers demonstrated strength in its aerospace and defense segment, which experienced double-digit growth driven by robust demand for military radar applications. Additionally, the company's strategic local-for-local manufacturing strategy, including the addition of new facilities in China, enabled it to mitigate the impact of tariffs and support growth in key regions.
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