Rogers Corporation (NYSE:ROG) Q4 2023 Earnings Conference Call February 21, 2024 5:00 PM ET

Company Participants

Steve Haymore - Director, Investor Relations

Colin Gouveia - President and Chief Executive Officer

Larry Schmid - Senior Vice President of Global Operations and Supply Chain

Ram Mayampurath - Senior Vice President and Chief Financial Officer

Conference Call Participants

Craig Ellis - B. Riley Securities

Will Gulia - CJS Securities

Operator

Good afternoon. My name is Kevin, and I'll be your conference operator today. At this time, I'd like to welcome everyone to Rogers Corporation Fourth Quarter 2023 Earnings Conference Call.

I'll now turn the call over to your host, Mr. Steve Haymore, Director of Investor Relations. Mr. Haymore, you may begin.

Steve Haymore

Good afternoon, everyone, and welcome to the Rogers Corporation Fourth Quarter 2023 Earnings Conference Call. The slides for today's call can be found on the Investor section of our website, along with the news release that was issued earlier today.

Please turn to slide two. Before we begin, I would like to note that statements in this conference call that are not strictly historical are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and should be considered as subject to the many uncertainties that exist in Rogers' operations and environment. These uncertainties include economic conditions, market demands, and competitive factors. Such factors could cause actual results to differ materially from those in any forward-looking statement made today.

Please turn to slide three. The discussions during this conference call will also reference certain financial measures that were not prepared in accordance with U.S. Generally Accepted Accounting Principles. A reconciliation of those non-GAAP financial measures to the most directly comparable GAAP financial measures can be found in the slide deck for today's call.

Turning to slide four, with me today is Colin Gouveia, President and CEO; Ram Mayampurath, Senior Vice President and CFO; and Larry Schmid, Senior Vice President of Global Operations and Supply Chain.

I will now turn the call over to Colin.

Colin Gouveia

Thanks, Steve. Good afternoon to everyone and thank you for joining us today.

I'll begin with the headlines of our quarter, year, and outlook on slide five. Overall, the macro-economic headwinds we faced throughout the fiscal year persisted through the fourth quarter, prompting more pronounced destocking at our customers and contributing to broad market softness across our end markets. In particular, our sales in the general industrial and portable electronics segments significantly declined compared to the third quarter.