TTM Technologies Inc
XMUN:TT1
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TTM Technologies Inc
XMUN:TT1
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TTM Technologies Inc
TTM Technologies makes printed circuit boards and other electronic interconnect products that help electronic systems carry signals and power between chips, components, and antennas. It also builds RF and microwave assemblies and related parts used in demanding systems where performance and reliability matter, such as radar, satellites, communications gear, medical devices, industrial equipment, and vehicles. The company sells mainly to original equipment makers and contract manufacturers that build finished electronics, plus defense and aerospace customers that need specialized, high-reliability hardware. TTM earns money by manufacturing these parts to customer specifications and charging for design support, fabrication, assembly, and testing. In many cases, it is an important middle step in the electronics supply chain rather than a consumer brand. What makes TTM’s business different is that it focuses on complex, high-mix products where engineering and manufacturing quality matter more than volume alone. A large part of its business serves markets that require tight tolerances, advanced materials, and long product lifecycles, which can make customer relationships sticky and the products harder to replace with generic alternatives.
TTM Technologies makes printed circuit boards and other electronic interconnect products that help electronic systems carry signals and power between chips, components, and antennas. It also builds RF and microwave assemblies and related parts used in demanding systems where performance and reliability matter, such as radar, satellites, communications gear, medical devices, industrial equipment, and vehicles.
The company sells mainly to original equipment makers and contract manufacturers that build finished electronics, plus defense and aerospace customers that need specialized, high-reliability hardware. TTM earns money by manufacturing these parts to customer specifications and charging for design support, fabrication, assembly, and testing. In many cases, it is an important middle step in the electronics supply chain rather than a consumer brand.
What makes TTM’s business different is that it focuses on complex, high-mix products where engineering and manufacturing quality matter more than volume alone. A large part of its business serves markets that require tight tolerances, advanced materials, and long product lifecycles, which can make customer relationships sticky and the products harder to replace with generic alternatives.
Record quarter: TTM reported first-ever quarterly revenue of $1.0 billion, up 37% year over year, and all-time high non-GAAP EPS of $0.99, both above guidance.
AI and defense: Management said roughly 80% of net sales are tied to AI and defense, and both remain the main growth engines for the business.
N+M ramp: The company said its N+M asymmetrical PCB technology is ramping faster than expected, with better yields and a meaningful margin tailwind expected in the second half.
Outlook raised: Full-year 2026 sales guidance was lifted to approximately $4.4 billion and non-GAAP EPS is now expected to approach $5 per share.
Strong backlog: Book-to-bill was 1.49, 90-day backlog rose to $901 million from $497 million a year ago, and A&D pipeline opportunities were said to exceed $7 billion.
Acquisition plan: TTM plans to acquire STG and ILFA in Europe, which would be its initial footprint there and is expected to close in the third quarter.