PCB manufacturing company TTM Technologies (NASDAQ:TTMI) will be announcing earnings results this Wednesday after the bell. Here’s what you need to know.
TTM Technologies beat analysts’ revenue expectations by 4.6% last quarter, reporting revenues of $648.7 million, up 13.8% year on year. It was an exceptional quarter for the company, with a solid beat of analysts’ EPS estimates and an impressive beat of analysts’ EPS guidance for next quarter estimates.
Is TTM Technologies a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting TTM Technologies’s revenue to grow 10.7% year on year to $670.1 million, in line with the 10.7% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.52 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. TTM Technologies has missed Wall Street’s revenue estimates twice over the last two years.
Looking at TTM Technologies’s peers in the electronic components & manufacturing segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Amphenol delivered year-on-year revenue growth of 56.5%, beating analysts’ expectations by 11.9%, and Knowles reported a revenue decline of 28.7%, topping estimates by 4.4%. Amphenol traded up 2.6% following the results while Knowles was also up 9.3%.
Read our full analysis of Amphenol’s results here and Knowles’s results here.
There has been positive sentiment among investors in the electronic components & manufacturing segment, with share prices up 2.3% on average over the last month. TTM Technologies is up 12.7% during the same time and is heading into earnings with an average analyst price target of $43.50 (compared to the current share price of $46).
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