TTM Technologies posts record quarter as sales jump 60% on AI data center demand

TTM Technologies grew sales 60% to a record in the third quarter as demand tied to artificial intelligence data centers more than doubled its biggest end market, and the maker of printed circuit boards, RF components and mission systems guided for another step up in the fourth quarter.

Net sales reached $1.2 billion, compared with $752.7 million a year earlier, according to the earnings release TTM filed with an 8-K on Thursday. Non-GAAP net income rose to $157.8 million, or $1.46 a share, from $71.0 million, or 67 cents. GAAP net income was $84.8 million, or 79 cents a share, up from 50 cents.

"All key markets contributed to our 60% year on year growth with Data Center & Networking up 115%," CEO Edwin Roks said in the release. Data Center and Networking made up 41% of sales, while aerospace and defense was 34%, with an aerospace and defense program backlog of $2.0 billion. Book-to-bill was 2.13.

Adjusted EBITDA hit a record $242.3 million, or 20.1% of sales, the first time that margin topped 20%.

Guidance and deals

For the fourth quarter, TTM expects net sales of $1.42 billion to $1.44 billion and non-GAAP EPS of $1.77 to $1.83. That implies full-year 2026 sales of $4.47 billion to $4.49 billion and non-GAAP EPS of $4.97 to $5.03. The outlook includes the completed Swiss Technology Group and Epiq Solutions acquisitions but not the planned $650 million purchase of MKS's Ophir Optics business, announced Oct. 19.

Roks said net leverage was 2.8 times pro forma adjusted EBITDA at Sept. 30 and that he expects it to fall to the company's 1.5 to 2.0 times target range by the time the Ophir deal closes.

By the numbers

• Net sales: $1.2 billion, up 60%
• Non-GAAP EPS: $1.46, versus $0.67
• GAAP EPS: $0.79, versus $0.50
• Adjusted EBITDA margin: 20.1%
• Q4 sales guidance: $1.42 billion to $1.44 billion
• Q4 non-GAAP EPS guidance: $1.77 to $1.83

Sources

1. TTM Technologies, Inc., Form 8-K (Item 2.02) with Exhibit 99.1 earnings release dated Oct. 22, 2026, accession 0001193125-26-428263

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