TTM Technologies Reports 37.4% Revenue Growth to $1.004 Billion in Latest Quarter

TTM Technologies, Inc. reported significant financial growth in its latest quarterly results, with net sales reaching $1.004 billion for the quarter ended June 29, 2026, a 37.4% increase from $730.6 million in the same quarter of the previous year. For the first half of 2026, total net sales amounted to $1.850 billion, up 34.1% from $1.379 billion in the first half of 2025. The company attributed this growth primarily to strong demand in the data center and networking sectors, driven by the expansion of AI data centers, alongside robust performance in aerospace and defense, and medical, industrial, and instrumentation markets.

The company's gross profit for the quarter increased to $211.9 million, up from $148.1 million a year earlier, resulting in a gross margin of 21.1%, compared to 20.3% in the prior year. For the first two quarters of 2026, gross profit rose to $393 million, with a gross margin of 21.2%, reflecting improved operational execution and a favorable product mix. Operating income also saw a substantial increase, reaching $109.1 million for the quarter and $181.5 million for the first half, compared to $61.8 million and $112 million, respectively, in the prior year.

Operationally, TTM Technologies has made strategic moves, including the announcement of its intention to acquire STG and ILFA, with expected closures in the third quarter of 2026, pending regulatory approvals. The company also entered into a new credit agreement in June 2026, which amended its previous term loan facility and established a new revolving credit facility, enhancing its financial flexibility. As of June 29, 2026, TTM reported cash and cash equivalents of approximately $507.9 million, with an additional $913.9 million available under its revolving credit facility.

The company serves a diverse customer base of approximately 1,300 clients across various sectors, including aerospace and defense, automotive, and medical industries. TTM's customer concentration remains significant, with its ten largest customers accounting for 55% of net sales in the latest quarter. The company has also seen a strategic realignment of its reporting segments, consolidating its RF&S Components within the A&D sector, which is expected to enhance operational efficiency.

Looking ahead, TTM Technologies anticipates continued growth driven by strong demand across its key markets. The company expects to maintain its capital expenditures in the range of $345 million to $365 million for 2026, primarily to expand capacity and meet market demand. The outlook remains positive, with management expressing confidence in the company's ability to leverage its operational strengths and strategic initiatives to drive future performance.