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Sep 27, 2021
TTM Technologies Q3 2021 Earnings Report
TTM Technologies reported revenue and non-GAAP earnings within the guided range, driven by automotive, data center computing, medical, industrial, and instrumentation end markets.
Key Takeaways
TTM Technologies reported Q3 2021 results with net sales of $556.8 million, GAAP net income of $21.0 million, or $0.19 per diluted share, and non-GAAP net income of $36.5 million, or $0.34 per diluted share. The company experienced strong year-over-year growth in the automotive and data center computing end markets.
Net sales were $556.8 million.
GAAP net income was $21.0 million, or $0.19 per diluted share.
Non-GAAP net income was $36.5 million, or $0.34 per diluted share.
Repurchased 2.11 million shares of common stock for $28.9 million at an average price of $13.71 per share.
Forward Guidance
TTM estimates that revenue for the fourth quarter of 2021 will be in the range of $530 million to $570 million, and non-GAAP net income will be in the range of $0.28 to $0.34 per diluted share.
Challenges Ahead
- Further increases in labor costs are expected to negatively affect profitability.
- Further increases in raw materials costs are expected to negatively affect profitability.
- Potential power rationing in China is expected to negatively affect profitability.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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