PCB manufacturing company TTM Technologies (NASDAQ: TTMI) will be reporting results this Wednesday after market close. Here’s what to look for.
TTM Technologies beat analysts’ revenue expectations last quarter, reporting revenues of $774.3 million, up 18.9% year on year. It was an exceptional 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 22% year on year, improving from the 13.8% increase it recorded in the same quarter last year.
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 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 Q1 results, giving us a hint as to what we can expect. Jabil delivered year-on-year revenue growth of 23.1%, beating analysts’ expectations by 6.8%, and Knowles reported revenues up 15.8%, topping estimates by 3.9%. Jabil traded up 1.1% following the results while Knowles was down 2.1%.
Read our full analysis of Jabil’s results here and Knowles’s results here.
There has been positive sentiment among investors in the tech hardware & electronics segment, with share prices up 13.1% on average over the last month. TTM Technologies is up 63.9% during the same time and is heading into earnings with an average analyst price target of $134.25 (compared to the current share price of $144.72).
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