TTM Technologies Q3 2024 Earnings: Strong A&D, AI-Driven Growth

TTM Technologies Q3 2024 earnings show a robust performance, with revenues surging to $616.5 million, up from $572.6 million last year, exceeding the midpoint of their guidance. Aerospace and defense, now 46% of sales, boast a record $1.49 billion backlog, driven by AI-powered data center computing. Non-GAAP operating margin improved to 11.8%, with adjusted EBITDA steady at $84.4 million. Cash from operations flowed strongly at $65.1 million, keeping net debt to EBITDA low at 1.4 times. Strategic moves to reduce cyclical risks include a new automated PCB plant in Penang, Malaysia, and a high-tech PCB expansion in Syracuse. Q4 guidance points to steady A&D at 21% of sales, with data centers holding firm, positioning TTM strongly for AI and defense growth next year. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/1965625251d60b22