PCB manufacturing company TTM Technologies (NASDAQ:TTMI) will be reporting earnings this Thursday before market open. Here’s what you need to know.
TTM Technologies beat analysts’ revenue expectations last quarter, reporting revenues of $1.00 billion, up 37.4% year on year. It was a stunning quarter for the company, with an impressive beat of analysts’ EPS guidance for next quarter estimates and revenue guidance for next quarter exceeding analysts’ expectations.
Is TTM Technologies a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting TTM Technologies’s revenue to grow 49.1% year on year, improving from the 22.1% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. TTM Technologies has a history of exceeding Wall Street’s expectations.
Looking at TTM Technologies’s peers in the tech hardware & electronics segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Jabil delivered year-on-year revenue growth of 28.6%, beating analysts’ expectations by 9.8%, and TD SYNNEX reported revenues up 37.7%, topping estimates by 13.5%. Jabil traded down 6% following the results while TD SYNNEX was also down 8.6%.
Read our full analysis of Jabil’s results here and TD SYNNEX’s results here.
Investors in the tech hardware & electronics segment have had fairly steady hands going into earnings, with share prices down 1% on average over the last month. TTM Technologies is down 20.6% during the same time and is heading into earnings with an average analyst price target of $211 (compared to the current share price of $98.50).
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