TTM Technologies (TTMI) Tops Q3 EPS by 5c, Revenues Beat; Offers 4Q EPS/Revenue Outlook Below Consensus

TTM Technologies (NASDAQ: TTMI) reported Q3 EPS of $0.50, $0.05 better than the analyst estimate of $0.45. Revenue for the quarter came in at $755.8 million versus the consensus estimate of $750.88 million.

• Net sales were $755.8 million
• GAAP net income was $27.0 million, or $0.22 per diluted share
• Non-GAAP net income was $55.1 million, or $0.50 per diluted share
• Cash flow from operations of $80.0 million
• For the fourth quarter of 2018 TTM estimates that revenue will be in the range of $720 million to $760 million
• For the fourth quarter of 2018 TTM estimates that non-GAAP net income will be in the range of $0.44 to $0.50 per diluted share

“TTM delivered record revenues and earnings for a third quarter,” said Tom Edman, CEO of TTM. “We were pleased to see solid year over year growth from the aerospace and defense, cellular, computing and medical/industrial/instrumentation end markets that more than offset weakness in our automotive end market. Following record third quarter revenues in the cellular end market, we’re anticipating weaker sales and profits in the fourth quarter.”

GUIDANCE:

TTM Technologies sees Q4 2018 EPS of $0.44-$0.50, versus the consensus of $0.64. TTM Technologies sees Q4 2018 revenue of $720-760 million, versus the consensus of $827.14 million.

For earnings history and earnings-related data on TTM Technologies (TTMI) click here.

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