The 10-second takeaway
For the quarter ended March 31 (Q1), TTM Technologies missed estimates on both revenue and earnings per share.
Compared to the prior-year quarter, revenue shrank and GAAP earnings per share dropped significantly.
Margins contracted across the board.
TTM Technologies logged revenue of $300.5 million. The five analysts polled by S&P Capital IQ predicted a top line of $320.7 million on the same basis. GAAP-reported sales were 12% lower than the prior-year quarter's $342.8 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 $0.15. The five earnings estimates compiled by S&P Capital IQ predicted $0.22 per share. GAAP EPS of $0.15 for Q1 were 55% lower than the prior-year quarter's $0.33 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 18.8%, 510 basis points worse than the prior-year quarter. Operating margin was 7.3%, 600 basis points worse than the prior-year quarter. Net margin was 4.2%, 370 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $339 million. On the bottom line, the average EPS estimate is $0.27.
Next year's average estimate for revenue is $1.42 billion. The average EPS estimate is $1.24.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 573 members rating the stock outperform and 19 members rating it underperform. Among 116 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 111 give TTM Technologies a green thumbs-up, and five give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on TTM Technologies is buy, with an average price target of $15.33.
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