TTM Technologies beats Q3 street views, guides FY EPS above consensus

• TTM Technologies press release (TTMI): Q3 Non-GAAP EPS of $1.46 beats by $0.20.
• Revenue of $1.2B (+59.4% Y/Y) beats by $70M.
• Adjusted EBITDA of $242.3 million, or 20.1% of net sales, an all-time quarterly record
• Non-GAAP net income of $157.8 million, or $1.46 per diluted share, an all-time quarterly record
• Cash flow from operations of $154.7 million, or 12.9% of net sales
• Total book to bill of 2.13
• A&D end market was 34% of total net sales; and total A&D program backlog was $2.0 billion
• Data Center and Networking end market was 41% of total net sales driven by continued AI demand
• Preliminary 2027 outlook: net sales of $6.5B-$6.75B (consensus: $6.25B) and non-GAAP EPS of $8.10-$8.90 (consensus: $7.86).

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