$TTMI · TTM TECHNOLOGIES INC
TTM Technologies filed an 8-K reporting Q3 2026 results (ended September 28, 2026) and issuing Q4 2026 and preliminary FY2027 guidance. Net sales hit an all-time quarterly record of $1.2B (+60% YoY), with non-GAAP EPS of $1.46 and adjusted EBITDA of $242.3M (20.1% margin). The company also announced a $650M acquisition of Ophir Optics from MKSI and provided a preliminary FY2027 forecast of $6.5B-$6.75B in net sales and $8.10-$8.90 in non-GAAP EPS.
- Q3 net sales hit an all-time record of $1.2B, up 60% YoY from $752.7M
- Non-GAAP EPS of $1.46 crushed prior-year $0.67; adjusted EBITDA margin exceeded 20% for the first time
- Data Center & Networking revenue surged 115% YoY, now 41% of total sales, driven by AI demand
- Q4 guidance: net sales $1.42B-$1.44B, non-GAAP EPS $1.77-$1.83 — both above Q3 actuals
- Preliminary FY2027 forecast: net sales $6.5B-$6.75B, non-GAAP EPS $8.10-$8.90, implying ~50% revenue growth from FY2026 run rate
Stock closed regular session at $102.15 (+6.95%), but extended-hours trading shows $94.00 (-7.98% vs close). The after-hours selloff suggests the market may be digesting the $650M Ophir Optics acquisition announcement and aggressive FY2027 guidance that embeds significant M&A execution risk.
TTM delivered a triple-header: record quarterly results, above-consensus guidance, and a preliminary FY2027 outlook implying ~50% revenue growth — all while announcing a transformative $650M defense-
TTM's 115% Data Center & Networking growth underscores the PCB/substrate supply chain's AI-driven boom. The Ophir Optics deal signals consolidation in defense-tech manufacturing, mirroring peers expanding into differentiated, long-cycle A&D products.
The $650M Ophir Optics acquisition (10.3x expected FY2027 adjusted EBITDA) will be funded via cash, future cash flow, and revolver borrowings — adding leverage. FY2027 guidance embeds unclosed acquisitions and excludes deals not yet completed, creating execution and integration risk. Realized/unreal
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