PCB manufacturing company TTM Technologies (NASDAQ: TTMI) will be reporting results this Wednesday after market close. Here’s what to expect.
TTM Technologies beat analysts’ revenue expectations by 9% last quarter, reporting revenues of $730.6 million, up 20.7% year on year. It was a stunning quarter for the company, with an impressive beat of analysts’ EPS guidance for next quarter estimates and a solid beat of analysts’ revenue estimates.
Is TTM Technologies a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting TTM Technologies’s revenue to grow 15.2% year on year to $710.1 million, improving from the 7.7% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.60 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. TTM Technologies has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 3.7% on average.
Looking at TTM Technologies’s peers in the electronic components & manufacturing segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Amphenol delivered year-on-year revenue growth of 53.4%, beating analysts’ expectations by 10.9%, and Jabil reported revenues up 18.5%, topping estimates by 9.5%. Amphenol traded up 8.8% following the results while Jabil was down 4.2%.
Read our full analysis of Amphenol’s results here and Jabil’s results here.
Investors in the electronic components & manufacturing segment have had steady hands going into earnings, with share prices up 1.3% on average over the last month. TTM Technologies is up 3.5% during the same time and is heading into earnings with an average analyst price target of $62.75 (compared to the current share price of $59.78).
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