Loading...
•
Sep 29
TTM Technologies Q3 2025 Earnings Report
TTM Technologies reported strong third quarter 2025 results with significant revenue and non-GAAP EPS growth.
Key Takeaways
TTM Technologies delivered a robust third quarter, exceeding revenue and non-GAAP EPS guidance. The company saw a 22% year-over-year increase in net sales, driven by strong demand in Data Center Computing, Networking, Medical, Industrial, Instrumentation, and Aerospace and Defense markets. Adjusted EBITDA margins remained healthy, and strong cash flow from operations supported continued investment in growth.
Net sales reached $752.7 million, marking a 22% increase compared to the third quarter of 2024.
Non-GAAP net income hit a record high of $71.0 million, or $0.67 per diluted share.
Adjusted EBITDA was $120.9 million, representing a 16.1% margin of net sales.
Cash flow from operations was strong at $141.8 million, or 18.8% of net sales.
TTM Technologies
TTM Technologies
TTM Technologies Revenue by Segment
Revenue by Segment
Aerospace & Defense Revenue
CapyFin.comCommercial Revenue
CapyFin.comRF&S Components Revenue
CapyFin.com Forward Guidance
For the fourth quarter of 2025, TTM Technologies anticipates net sales to be between $730 million and $770 million, with non-GAAP net income per diluted share projected to be in the range of $0.64 to $0.70.
Positive Outlook
- Expected net sales range of $730 million to $770 million indicates continued strong revenue performance.
- Non-GAAP net income per diluted share guidance of $0.64 to $0.70 suggests sustained profitability.
- The company's measured investment in facilities expansion is expected to support projected continued growth.
- Continued demand strength in Data Center Computing and Networking end markets, driven by generative AI.
- Double-digit year-on-year revenue growth expected in Medical, Industrial and Instrumentation and Aerospace and Defense end markets.
Challenges Ahead
- Inability to predict certain GAAP reconciling items for non-GAAP net income per diluted share due to high variability.
- Future impact of restructuring actions could affect GAAP net income.
- Potential impairment charges are difficult to predict and could impact GAAP results.
- Unusual gains and losses, including unrealized foreign exchange translation, are highly variable.
- Tax adjustments are also difficult to predict and could materially impact GAAP net income per diluted share.
Revenue & Expenses
Visualization of income flow from segment revenue to net income