The 10-second takeaway
For the quarter ended Sep. 24 (Q3), TTM Technologies missed estimates on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped and GAAP earnings per share shrank to a loss.
Margins dropped across the board.
TTM Technologies reported revenue of $339.0 million. The six analysts polled by S&P Capital IQ expected to see revenue of $346.6 million on the same basis. GAAP reported sales were 5.4% lower than the prior-year quarter's $358.3 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.22. The five earnings estimates compiled by S&P Capital IQ averaged $0.19 per share. GAAP EPS were -$2.54 for Q3 versus $0.30 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 15.4%, 430 basis points worse than the prior-year quarter. Operating margin was 4.6%, 550 basis points worse than the prior-year quarter. Net margin was -61.5%, 6,830 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $365.4 million. On the bottom line, the average EPS estimate is $0.17.
Next year's average estimate for revenue is $1.34 billion. The average EPS estimate is $0.74.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 559 members out of 581 rating the stock outperform, and 22 members rating it underperform. Among 114 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 108 give TTM Technologies a green thumbs-up, and six give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on TTM Technologies is outperform, with an average price target of $12.92.
- Add TTM Technologies to My Watchlist.