TTM Technologies Inc
NASDAQ:TTMI
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TTM Technologies Inc
TTM Technologies Inc., standing for "Time-To-Market," is more than just a name; it's a mission that reflects its dynamic role in the fast-paced world of technology. Headquartered in Santa Ana, California, TTM Technologies is a key player in the electronics manufacturing sector, particularly known for its production of printed circuit boards (PCBs). As digital transformation propels industries into new territories, TTM Technologies serves as the backbone for various high-tech domains, including aerospace, defense, automotive, and telecommunications. By manufacturing complex, high-reliability PCBs, the company enables its clients to innovate and bring their products to market quicker than ever before, living up to its name quite literally.
The company makes money by offering a wide range of PCB products and solutions, catering to the unique specifications and rigorous demands of its broad customer base. TTM Technologies thrives through both high-volume production and specialized low-volume offerings, ensuring flexibility and precision. It stands out by providing engineering support and advanced technology solutions, which include rigid, flex, and rigid-flex PCB technologies. Furthermore, TTM has also expanded into electronic manufacturing services (EMS), handling everything from design assistance to prototype development, all the way through to full-scale manufacturing. This holistic approach not only builds strong, long-term relationships with its clients but also cements TTM's position as a critical partner in their technological advancements, consistently reflecting strong profitability built on their diversified customer engagement.
TTM Technologies Inc., standing for "Time-To-Market," is more than just a name; it's a mission that reflects its dynamic role in the fast-paced world of technology. Headquartered in Santa Ana, California, TTM Technologies is a key player in the electronics manufacturing sector, particularly known for its production of printed circuit boards (PCBs). As digital transformation propels industries into new territories, TTM Technologies serves as the backbone for various high-tech domains, including aerospace, defense, automotive, and telecommunications. By manufacturing complex, high-reliability PCBs, the company enables its clients to innovate and bring their products to market quicker than ever before, living up to its name quite literally.
The company makes money by offering a wide range of PCB products and solutions, catering to the unique specifications and rigorous demands of its broad customer base. TTM Technologies thrives through both high-volume production and specialized low-volume offerings, ensuring flexibility and precision. It stands out by providing engineering support and advanced technology solutions, which include rigid, flex, and rigid-flex PCB technologies. Furthermore, TTM has also expanded into electronic manufacturing services (EMS), handling everything from design assistance to prototype development, all the way through to full-scale manufacturing. This holistic approach not only builds strong, long-term relationships with its clients but also cements TTM's position as a critical partner in their technological advancements, consistently reflecting strong profitability built on their diversified customer engagement.
Record Sales Growth: TTM delivered Q3 sales of $752.7 million, up 22% year-on-year, with strong demand in data center, networking, medical, industrial, and aerospace/defense end markets.
EPS and EBITDA Beat: Non-GAAP EPS reached a record $0.67, and adjusted EBITDA was $120.9 million (16.1% margin), both exceeding the high end of guidance for the fourth consecutive quarter.
Strong Cash Generation: Cash flow from operations was $141.8 million (18.8% of sales), supporting future investment and strategic initiatives.
AI and Defense Demand: Approximately 80% of sales were driven by aerospace/defense and AI-related markets, which are expected to remain growth engines.
Q4 Guidance Provided: Q4 sales are projected between $730 million and $770 million, with non-GAAP EPS of $0.64 to $0.70.
Penang Facility Progress: The Malaysia Penang ramp-up remains a key focus, with margin headwinds improving and five customers lined up for qualification before year-end.
