As the Q1 earnings season wraps, let’s dig into this quarter’s best and worst performers in the electronic components & manufacturing industry, including Rogers (NYSE: ROG) and its peers.

The sector could see higher demand as the prevalence of advanced electronics increases in industries such as automotive, healthcare, aerospace, and computing. The high-performance components and contract manufacturing expertise required for autonomous vehicles and cloud computing datacenters, for instance, will benefit companies in the space. However, headwinds include geopolitical risks, particularly U.S.-China trade tensions that could disrupt component sourcing and production as the Trump administration takes an increasingly antagonizing stance on foreign relations. Additionally, stringent environmental regulations on e-waste and emissions could force the industry to pivot in potentially costly ways.

The 10 electronic components & manufacturing stocks we track reported a strong Q1. As a group, revenues beat analysts’ consensus estimates by 3.6% while next quarter’s revenue guidance was in line.

Luckily, electronic components & manufacturing stocks have performed well with share prices up 30.9% on average since the latest earnings results.

Rogers (NYSE: ROG)

With roots dating back to 1832, making it one of America's oldest continuously operating companies, Rogers (NYSE: ROG) designs and manufactures specialized engineered materials and components used in electric vehicles, telecommunications, renewable energy, and other high-performance applications.

Rogers reported revenues of $190.5 million, down 10.7% year on year. This print exceeded analysts’ expectations by 2.2%. Overall, it was a very strong quarter for the company with a solid beat of analysts’ EPS estimates.

"Our first quarter unfolded largely as we expected with financial results that were in line with our guidance expectations,” stated Colin Gouveia, Rogers' President and CEO.

Interestingly, the stock is up 23.4% since reporting and currently trades at $73.35.

Is now the time to buy Rogers? Access our full analysis of the earnings results here, it’s free.

Best Q1: TTM Technologies (NASDAQ: TTMI)

As one of the world's largest printed circuit board manufacturers with facilities spanning North America and Asia, TTM Technologies (NASDAQ: TTMI) manufactures printed circuit boards (PCBs) and radio frequency (RF) components for aerospace, defense, automotive, and telecommunications industries.

TTM Technologies reported revenues of $648.7 million, up 13.8% year on year, outperforming analysts’ expectations by 4.6%. The business had an exceptional quarter with a solid beat of analysts’ EPS estimates and an impressive beat of analysts’ EPS guidance for next quarter estimates.

The market seems happy with the results as the stock is up 110% since reporting. It currently trades at $42.11.

Is now the time to buy TTM Technologies? Access our full analysis of the earnings results here, it’s free.

Weakest Q1: Benchmark (NYSE: BHE)

Operating as a critical behind-the-scenes partner for complex technology products since 1979, Benchmark Electronics (NYSE: BHE) provides advanced manufacturing, engineering, and technology solutions for original equipment manufacturers across aerospace, medical, industrial, and technology sectors.

Benchmark reported revenues of $631.8 million, down 6.5% year on year, falling short of analysts’ expectations by 1.3%. It was a softer quarter as it posted revenue guidance for next quarter missing analysts’ expectations.

Interestingly, the stock is up 4.5% since the results and currently trades at $40.02.

Read our full analysis of Benchmark’s results here.

Knowles (NYSE: KN)

With roots dating back to 1946 and a focus on components that must perform flawlessly in critical situations, Knowles (NYSE: KN) designs and manufactures specialized electronic components like high-performance capacitors, microphones, and speakers for medical technology, defense, and industrial applications.

Knowles reported revenues of $132.2 million, down 32.7% year on year. This number beat analysts’ expectations by 2.5%. Overall, it was an exceptional quarter as it also put up revenue guidance for next quarter exceeding analysts’ expectations.

Knowles had the slowest revenue growth among its peers. The stock is up 15.6% since reporting and currently trades at $18.10.

Read our full, actionable report on Knowles here, it’s free.

Amphenol (NYSE: APH)

With over 90 years of connecting the world's technologies, Amphenol (NYSE: APH) designs and manufactures connectors, cables, sensors, and interconnect systems that enable electrical and electronic connections across virtually every industry.

Amphenol reported revenues of $4.81 billion, up 47.7% year on year. This print topped analysts’ expectations by 12.2%. It was a very strong quarter as it also produced an impressive beat of analysts’ EPS estimates.

Amphenol scored the biggest analyst estimates beat and fastest revenue growth among its peers. The stock is up 49.7% since reporting and currently trades at $98.49.

Read our full, actionable report on Amphenol here, it’s free.

Market Update

As a result of the Fed’s rate hikes in 2022 and 2023, inflation has come down from frothy levels post-pandemic. The general rise in the price of goods and services is trending towards the Fed’s 2% goal as of late, which is good news. The higher rates that fought inflation also didn't slow economic activity enough to catalyze a recession. So far, soft landing. This, combined with recent rate cuts (half a percent in September 2024 and a quarter percent in November 2024) have led to strong stock market performance in 2024. The icing on the cake for 2024 returns was Donald Trump’s victory in the U.S. Presidential Election in early November, sending major indices to all-time highs in the week following the election. Still, debates around the health of the economy and the impact of potential tariffs and corporate tax cuts remain, leaving much uncertainty around 2025.

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