TTM Technologies jumps nearly 24% on record Q1 and stronger Q2 outlook
TTM Technologies shares are surging after the company posted record Q1 2026 results and issued upbeat Q2 2026 guidance. Net sales rose 30% year over year to $846 million and non-GAAP EPS hit a record $0.75, with Q2 revenue guided to $930–$970 million and non-GAAP EPS to $0.82–$0.88.
1) What’s moving the stock today
TTM Technologies (TTMI) is sharply higher today after releasing first-quarter 2026 results late April 29, 2026, that set company records and pointed to continued momentum into the June quarter. The report highlighted 30% year-over-year sales growth to $846.0 million and record non-GAAP EPS of $0.75, alongside a strong book-to-bill of 1.41 and total program backlog of $1.6 billion—metrics that signaled both demand strength and improving execution.
2) The numbers investors are reacting to
For Q1 2026 (ended March 30, 2026), TTM reported GAAP net income of $50.0 million ($0.47 per diluted share) and adjusted EBITDA of $132.9 million (15.7% margin). Management tied the quarter’s outperformance to robust demand in Data Center and Networking—driven by AI and data center buildouts—while noting double-digit year-over-year growth in Aerospace & Defense and Medical/Industrial/Instrumentation as well. The company also guided Q2 2026 net sales to $930–$970 million and non-GAAP EPS to $0.82–$0.88, reinforcing the “beat-and-raise” narrative behind today’s move.
3) Why the market is rewarding TTMI now
The magnitude of today’s rally reflects investors re-pricing TTMI on two fronts: (1) the scale of Q1 growth and profitability at record levels, and (2) the forward guidance suggesting the first-half acceleration can extend through 2026. The mix shift toward Data Center and Networking—called out as 36% of Q1 sales and driven by continued AI demand—also supports a higher-growth multiple than the market typically assigns to mature PCB/interconnect manufacturing. Meanwhile, a strong book-to-bill and large backlog add confidence that the demand tailwinds are not just a one-quarter event.
4) What to watch next
Key near-term drivers will be whether Q2 results land near the top end of the $930–$970 million revenue range, and whether non-GAAP EPS can sustain the $0.82–$0.88 trajectory as the company executes on high-speed interconnect and advanced technology programs. Investors will also focus on the durability of AI-related data infrastructure demand and the pace of Aerospace & Defense program funding, since these end markets are central to the growth and backlog profile implied by the latest quarter.