TTMI Set to Report Q3 Results: What's in the Cards for the Stock?

Core Insights - TTM Technologies (TTMI) is set to report its third-quarter 2025 results on October 29, with expected revenues between $690 million and $730 million, reflecting a 15.59% increase year-over-year [1][8] - The company anticipates non-GAAP earnings per share (EPS) in the range of 57 to 63 cents, with a consensus estimate of 61 cents, indicating a year-over-year growth of 48.78% [2][8] - TTM Technologies has consistently surpassed earnings estimates in the past four quarters, with an average surprise of 16.85% [2] Revenue and Segment Performance - The Aerospace and Defense (A&D) segment, which constituted 45% of total sales in the previous quarter, is expected to have driven revenue growth due to a record backlog of approximately $1.46 billion [3][8] - The strong order pipeline and favorable program mix in the A&D segment are anticipated to have supported stable utilization levels and improved operational efficiency [3] Strategic Initiatives - TTM Technologies has undertaken strategic capacity and footprint expansion initiatives, including the acquisition of a large facility in Wisconsin and land rights in Penang, Malaysia, enhancing global manufacturing flexibility and supply-chain resilience [4][8] - The company entered the quarter with a robust financial position, featuring $97.8 million in operating cash flow and $448 million in cash, allowing for investments in capacity expansion and technology upgrades [5] Challenges and Market Dynamics - Despite the positive factors, TTM Technologies may face challenges due to softer bookings momentum, as indicated by a book-to-bill ratio of 0.89 in the second quarter, suggesting new orders lagged behind shipments [6] - This imbalance could limit near-term revenue visibility and production activity, potentially impacting sales growth and capacity utilization [6] Earnings Prediction Model - The current model does not predict a definitive earnings beat for TTM Technologies, as it has an Earnings ESP of 0.00% and a Zacks Rank of 2 (Buy) [7]