Chandler, Arizona – Rogers , which makes a range of speciality polyurethane foams, had total sales of $229.3m in the first quarter of 2021 up 15.34% on the same period last year.
Rogers bounces into Q1 2021
Operating Income across the business rose 112.6% and reached $37.2m in the first quarter of 2021.
Bruce Hoechner, CEO said: 'Accelerating demand in advanced mobility markets and a broad recovery in industrial demand were the primary catalysts for the sales increase.'
Polyurethane foam revenues are located in the company's Elastomeric Material Solutions business. In this division sales rose by 9.9% between the first quarter of 2020 and the first quarter of 2021. They reached $91.8m in the first quarter of 2021. This compares with $83.5m in the equivalent period in 2020.
At the same time, operating income in the division rose 74.8%. It reached $20.1m in the first quarter of 2021. This compares with $12m in the equivalent period in 2020.
Business in the division grew because of the recovery in the transportation sector following the slowdown in the first quarter of 2020. The results were hit by a fire at the company's UTIS facility in Ansan, Korea which added 1.3m to expenses. Looking ahead the Elastomeric Solutions business may start to suffer because of shortages of raw materials in the coming months because winter storm Uri, which disrupted upstream production in February.