SANTA ANA, Calif. - TTM Technologies , Inc. (NASDAQ:TTMI) saw its stock surge 12.4% after the technology solutions manufacturer reported fourth-quarter earnings and revenue that exceeded analyst expectations, while also providing an upbeat outlook for the current quarter.
The company posted adjusted earnings per share of $0.60 for the fourth quarter, significantly beating the analyst consensus of $0.43. Revenue came in at $651 million, surpassing estimates of $630.6 million and marking a 14.4% increase YoY from $569 million in the same quarter last year.
TTM Technologies’ strong performance was driven by robust demand in its Aerospace and Defense, Data Center Computing, and Networking end markets, with the latter two benefiting from growth in generative AI applications. The company’s Data Center Computing revenues reached a record 22% of total company revenues in the quarter.
"We delivered a solid quarter with revenues and non-GAAP EPS above the high end of the guided range," said Tom Edman, CEO of TTM Technologies. "Revenues reflected the fourth consecutive quarter of year on year growth due to demand strength in our Aerospace and Defense, Data Center Computing and Networking end markets, the latter two being driven by generative AI."
Looking ahead, TTM Technologies provided guidance for the first quarter of 2025, projecting revenue between $600 million and $640 million, with the midpoint above the analyst consensus of $603.5 million. The company expects adjusted earnings per share in the range of $0.37 to $0.43, also higher than the $0.37 consensus at the midpoint.
The company’s book-to-bill ratio for the fourth quarter stood at 1.09, indicating strong future demand. Additionally, TTM Technologies reported a record Aerospace and Defense program backlog of $1.56 billion, further supporting its positive outlook.
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