TTM Technologies Q3 2020 Earnings Report
Key Takeaways
TTM Technologies reported net sales of $513.6 million for Q3 2020, a decrease from $534.2 million in Q3 2019. The company experienced a GAAP net loss of $41.5 million, or ($0.39) per diluted share, which included a goodwill impairment charge of $69.2 million. However, on a non-GAAP basis, net income was $26.8 million, or $0.25 per diluted share, an increase from the previous year. The company's diversified end markets and strong operational execution drove revenue and earnings above the guided range.
Net sales reached $513.6 million.
GAAP net loss was $41.5 million, or ($0.39) per diluted share, including a $69.2 million goodwill impairment charge.
Non-GAAP net income amounted to $26.8 million, or $0.25 per diluted share.
Cash flow from operations was $84.8 million, and the company repaid $400 million of Term Loan B.
TTM Technologies
TTM Technologies
Forward Guidance
TTM estimates revenue for Q4 2020 to be in the range of $490 million to $530 million, and non-GAAP net income to be in the range of $0.22 to $0.28 per diluted share. This guidance includes the E-MS business unit while that business winds down.