0001193125-26-191490
SEC filingTTM Technologies reported record Q1 2026 net sales of $846 million, up 30% year-over-year, with non-GAAP EPS of $0.75 and Q2 guidance of $930-970 million in sales.
TTM Technologies delivered exceptional Q1 2026 results with net sales reaching a record $846 million, a 30% increase from $649 million in Q1 2025, fueled by robust demand across key end markets. Data Center and Networking contributed 36% of sales, driven by AI and data center buildouts, while Aerospace & Defense held steady at 40%. Medical, Industrial, and Instrumentation also posted strong double-digit growth. GAAP operating income rose to $72.4 million from $50.3 million, with margins expanding to 8.6% from 7.7%, reflecting operational leverage. Non-GAAP metrics shone brighter, with Adjusted EBITDA at $132.9 million (15.7% margin, up from 15.3%) and non-GAAP EPS at $0.75, a record. CEO Edwin Roks highlighted execution amid market strength, noting healthy margins and a net leverage ratio of 1.0x supported by $21.7 million in operating cash flow. Segment performance was strong, with A&D sales at $352 million and operating income of $55 million, and Commercial at $495 million with $82 million income. Book-to-bill of 1.41 and $1.6 billion backlog signal sustained demand. Q2 guidance projects sales of $930-970 million and non-GAAP EPS of $0.82-0.88, with full-year growth expected to match H1 pace. Balance sheet remains solid with $410 million cash, low short-term debt, and equity up to $1.84 billion.