PCB manufacturing company TTM Technologies (NASDAQ:TTMI) will be announcing earnings results this Wednesday after the bell. Here’s what to look for.
TTM Technologies beat analysts’ revenue expectations last quarter, reporting revenues of $846 million, up 30.4% year on year. It was an incredible quarter for the company, with a solid 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 31.2% year on year, improving from the 20.7% 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 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 55%, beating analysts’ expectations by 5.6%, and Benchmark reported revenues up 17.7%, topping estimates by 5%. Amphenol traded up 11.1% following the results while Benchmark was also up 7.2%.
Read our full analysis of Amphenol’s results here and Benchmark’s results here.
There has been positive sentiment among investors in the electronic components & manufacturing segment, with share prices up 5.3% on average over the last month. TTM Technologies is down 17% during the same time and is heading into earnings with an average analyst price target of $212 (compared to the current share price of $123.95).
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