Reports Q4 revenue $569M, consensus $572.03M. “TTM executed a strong finish to the year registering a Non-GAAP EPS that was above the high end of the guided range due to excellent operating performance and favorable product mix. Revenues were within the guided range as upside in our Aerospace and Defense and Data Center Computing end markets was offset by demand softness in our Automotive and Medical, Industrial and Instrumentation end markets,” said Tom Edman, CEO of TTM. “In addition, cash flow from operations was a healthy 8.3% of revenue enabling us to repurchase stock while maintaining a solid balance sheet with a net leverage ratio of 1.6x. Finally, our Penang facility has all major processes running and we are currently sampling product to customers,” concluded Edman.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on TTMI:
- Is TTMI a Buy, Before Earnings?
- TTM Technologies Donates $20,000 to Rise Against Hunger through Its TTM Chair of Community Service Award
- TTM Technologies, Inc. to Conduct Fourth Quarter and Fiscal Year 2023 Conference Call on February 7, 2024
- TTM Technologies price target raised to $20 from $17 at Truist