TTM Technologies Reports 30.4% Revenue Growth to $845.976 Million in Latest Quarter

TTM Technologies, Inc. reported significant financial growth in its latest quarterly results, with net sales reaching $845.976 million for the quarter ended March 30, 2026, a 30.4% increase from $648.668 million in the same period last year. The company's gross profit also rose to $181.181 million, up from $130.972 million, resulting in a gross margin of 21.4%, compared to 20.2% in the prior year. This growth was primarily driven by strong demand in the data center and networking sectors, particularly due to the expansion of AI data centers, as well as robust performance in the aerospace and defense markets.

Operating expenses increased to $108.732 million from $80.712 million, largely due to higher stock-based compensation and labor costs. Despite this rise in expenses, operating income improved to $72.449 million, up from $50.260 million, leading to an operating margin of 8.6%, compared to 7.7% in the previous year. The increase in operating income was attributed to higher sales volume and improved operational execution, although it was partially offset by ramp-up costs associated with the company's fabrication plant in Penang, Malaysia.

In terms of strategic developments, TTM Technologies has been actively constructing a new advanced technology PCB manufacturing facility in Syracuse, New York, which is expected to enhance its domestic production capabilities. The facility is anticipated to commence volume production in the second half of 2026. Additionally, the company has realigned its reporting segments, consolidating RF&S Components within the Aerospace and Defense (A&D) sector, resulting in two reportable segments: A&D and Commercial.

The company serves a diverse customer base of approximately 1,300 clients across various markets, including aerospace and defense, automotive, and medical sectors. As of March 30, 2026, TTM Technologies reported cash and cash equivalents of $410.049 million, with $156.445 million held by foreign subsidiaries. The company also has a remaining capacity of $100 million under its share repurchase program, which was authorized in May 2025. Looking ahead, TTM Technologies expects to continue leveraging its operational strengths and market demand to drive further growth, with capital expenditures projected between $300 million and $320 million for 2026 to support capacity expansion.