TTM Technologies Q1 2025 Earnings Report
Key Takeaways
TTM Technologies delivered a strong first quarter in 2025, exceeding expectations with robust year-over-year revenue growth driven by demand in Aerospace and Defense, Data Center Computing, and Networking markets, particularly from generative AI. The company achieved a record high non-GAAP EPS for a first quarter and improved non-GAAP operating margins.
Net sales for Q1 2025 were $648.7 million, a 14% increase compared to Q1 2024.
GAAP net income was $32.2 million, or $0.31 per diluted share.
Non-GAAP net income reached a record high for a first quarter at $52.4 million, or $0.50 per diluted share.
Adjusted EBITDA was $99.5 million, representing 15.3% of sales.
TTM Technologies
TTM Technologies
TTM Technologies Revenue by Segment
Forward Guidance
For the second quarter of 2025, TTM estimates revenues between $650 million and $690 million and non-GAAP net income per diluted share between $0.49 and $0.55.
Positive Outlook
- Expected revenue range of $650 million to $690 million.
- Expected non-GAAP net income per diluted share range of $0.49 to $0.55.
- Continued strong demand expected in key markets.
- Building on momentum from a strong first quarter.
- Focus on ongoing financial performance.
Challenges Ahead
- Inability to predict with reasonable certainty or without unreasonable effort certain items affecting comparable GAAP measures.
- Exclusion of future impact of restructuring actions from non-GAAP guidance.
- Exclusion of impairment charges from non-GAAP guidance.
- Exclusion of unusual gains and losses, including unrealized foreign exchange translation, from non-GAAP guidance.
- Exclusion of tax adjustments from non-GAAP guidance.
Revenue & Expenses
Visualization of income flow from segment revenue to net income