TTM Technologies (NASDAQ:TTMI) Issues Earnings Results, Beats Estimates By $0.21 EPS

TTM Technologies (NASDAQ:TTMI) posted its quarterly earnings results on Thursday. The technology company reported $1.46 EPS for the quarter, beating the consensus estimate of $1.25 by $0.21, FiscalAI reports. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. TTM Technologies had a net margin of 7.01% and a return on equity of 19.19%. The firm’s revenue was up 59.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.50 earnings per share.

Here are the key takeaways from TTM Technologies’ conference call:

• Positive Sentiment: TTM reported record third-quarter revenue of $1.2 billion, up 60% year over year, with non-GAAP EPS of $1.46 and adjusted EBITDA margin of 20.1%, up 400 basis points. Management raised full-year 2026 revenue guidance to $4.47 billion-$4.49 billion.
• Positive Sentiment: Data Center & Networking revenue grew 115% year over year, driven by AI-related N+M boards, which represented about 30% of the segment in the third quarter and are expected to reach roughly 50% in 2027. Management said the products carry gross margins well above the corporate average and could support more than 200 basis points of margin expansion next year.
• Positive Sentiment: Aerospace & Defense sales rose 21% year over year, with a 1.6 book-to-bill ratio and record backlog of approximately $2 billion. Management cited strong bookings across radar, surveillance, Golden Dome, and restricted programs, with visibility into about 65% of projected 2027 A&D revenue.
• Positive Sentiment: TTM provided preliminary 2027 revenue guidance of $6.5 billion-$6.75 billion and non-GAAP EPS of $8.10-$8.90, implying another year of roughly 50% growth. The outlook includes continued strength across Data Center & Networking, A&D, medical, industrial, instrumentation, and automotive markets.
• Negative Sentiment: TTM plans to fund the $650 million Ophir Optics acquisition with cash and borrowings, increasing quarterly interest expense by about $20 million and weighing on near-term EPS. Although management expects leverage below 2x adjusted EBITDA at closing, it said the company will prioritize debt reduction and balance-sheet strengthening after completing the current acquisition program.

TTM Technologies Stock Up 8.4%

Shares of NASDAQ TTMI opened at $80.11 on Friday. The business’s 50 day moving average is $117.07 and its two-hundred day moving average is $141.70. TTM Technologies has a 52-week low of $55.44 and a 52-week high of $223.83. The firm has a market cap of $8.44 billion, a price-to-earnings ratio of 31.92 and a beta of 2.14. The company has a quick ratio of 1.54, a current ratio of 1.67 and a debt-to-equity ratio of 0.71.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TTMI. Weiss Ratings lowered shares of TTM Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, August 25th. Stifel Nicolaus cut their price target on shares of TTM Technologies from $205.00 to $165.00 and set a “buy” rating for the company in a report on Friday. Truist Financial cut their target price on shares of TTM Technologies from $231.00 to $170.00 and set a “buy” rating for the company in a research note on Friday. Needham & Company LLC decreased their price objective on TTM Technologies from $175.00 to $150.00 and set a “buy” rating on the stock in a report on Friday. Finally, Zacks Research lowered shares of TTM Technologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, TTM Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $173.25.

Insider Activity

In other TTM Technologies news, SVP Dale Knecht sold 26,198 shares of the stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $142.00, for a total value of $3,720,116.00. Following the sale, the senior vice president owned 40,138 shares of the company’s stock, valued at $5,699,596. This trade represents a 39.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Edwin Roks bought 10,000 shares of TTM Technologies stock in a transaction that occurred on Tuesday, August 25th. The stock was purchased at an average cost of $111.77 per share, for a total transaction of $1,117,700.00. Following the acquisition, the chief executive officer owned 64,814 shares of the company’s stock, valued at $7,244,260.78. This represents a 18.24% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 1.30% of the stock is owned by corporate insiders.

Key Headlines Impacting TTM Technologies

Here are the key news stories impacting TTM Technologies this week:

• Positive Sentiment: Record results exceeded expectations. Third-quarter revenue rose 59.9% year over year to $1.20 billion, while non-GAAP EPS of $1.46 topped the $1.25 consensus. Adjusted EBITDA reached a record $242.3 million, with the margin expanding to 20.1%. AI-driven data-center demand and aerospace and defense spending were key growth drivers. TTMI Q3 Earnings & Revenues Surpass Estimates, Both Surge Year over Year
• Positive Sentiment: Management raised its outlook. TTM now expects 2026 revenue of $4.47 billion to $4.49 billion and non-GAAP EPS of $4.97 to $5.03, above consensus. Fourth-quarter EPS guidance of $1.77 to $1.83 also exceeds estimates, while preliminary 2027 guidance calls for $6.5 billion to $6.75 billion in revenue and $8.10 to $8.90 in EPS. TTM Technologies Reports Third Quarter 2026 Results
• Neutral Sentiment: Growth visibility is improving, but execution remains important. Data Center and Networking accounted for 41% of sales, total book-to-bill was 2.13, and aerospace and defense backlog reached $2 billion. However, planned acquisitions—including the $650 million Ophir Optics deal—will require additional borrowing and are not included in current guidance. TTM Technologies Reports Record Sales and Raises Outlook
• Negative Sentiment: Debt and operational risks are weighing on the shares. Investors focused on higher financing costs and leverage following recent acquisitions, as well as reports of material wait times of up to 24 weeks and delays affecting data-center programs. Needham and Stifel lowered their price targets despite retaining favorable ratings. Why Is TTM Technologies Stock Gaining Friday?
• Negative Sentiment: Potential litigation adds uncertainty. Several law firms announced investigations into possible securities-law violations following the post-earnings selloff. These notices are allegations, not established findings, but they may increase headline and legal risk for investors. TTM Technologies Investigation Notice

TTM Technologies Company Profile

TTM Technologies, Inc is a manufacturer of technology solutions and printed circuit boards (PCBs), which are used to connect and support electronic components in a wide range of products. The company produces conventional rigid PCBs as well as high-density interconnect, flexible and rigid-flex circuit boards, and other advanced circuit technologies.

TTM also provides radio-frequency and microwave/microelectronic assembly capabilities, including components and assemblies used in communications, radar and other high-frequency applications.