TTM Technologies Q3 2024 Earnings: Revenue Surges, EPS Falls

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Post on Nov 03, 2024

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TTM Technologies Beats on Revenue, But Earnings Miss: A Mixed Bag for Q3 2024

So, TTM Technologies (TTM) just released their Q3 2024 earnings, and things are… well, kind of a mixed bag. On the one hand, revenue soared, exceeding expectations by a decent margin. On the other hand, earnings per share (EPS) came in lower than anticipated. Let’s break down what happened.

Revenue Rides High, But Profits Lag Behind

TTM's Q3 2024 revenue came in at $520.5 million, a whopping 13.4% increase compared to the same period last year. This beat analyst estimates by a cool $12.5 million. This strong performance was driven by increased demand across key markets like industrial and automotive, which continue to be hot.

However, the earnings story wasn’t quite as rosy. EPS for the quarter landed at $0.72, falling short of the expected $0.81. This drop can be attributed to higher operating expenses as the company invests in growth initiatives.

What's Next for TTM?

While investors are happy with the revenue growth, the miss on earnings has some wondering about the company's future. TTM themselves seem optimistic, pointing to ongoing investment in their manufacturing capabilities and strong demand across key markets. They’re also expecting Q4 revenue to be between $520 million and $540 million, a sign that they’re not planning on slowing down anytime soon.

Key Takeaways for Investors

Here's the TL;DR for investors:

• Revenue is rocking! TTM is clearly riding a wave of demand, with strong growth across multiple sectors.
• Earnings are a bit of a bummer. The miss on EPS highlights the challenges of navigating a complex economic landscape.
• The future is bright (but maybe a little cloudy). TTM is committed to growth, but the road ahead might be bumpy.

It's still too early to say what the long-term implications of this earnings report will be. But one thing's for sure: TTM is a company to watch as the electronics industry navigates this dynamic market.