Q4 2024 TTM Technologies Inc Earnings Call Transcript

Feb 5, 2025 / 09:30 PM GMT

Transcript 8-K

Key Points

Positve

TTM Technologies Inc (TTMI) achieved revenues and non-GAAP EPS above the high end of the guided range, with a 14% year-on-year revenue growth.
The aerospace and defense market, which represented 47% of revenues, continues to show strong demand with a record program backlog of approximately $1.56 billion.
TTM Technologies Inc (TTMI) reported a second consecutive quarter of double-digit non-GAAP operating margins, reflecting solid execution.
The company is making strategic investments, including a new state-of-the-art PCB manufacturing facility in Penang, Malaysia, to support growth in commercial markets.
TTM Technologies Inc (TTMI) generated a healthy cash flow from operations, representing more than 13% of net sales, and reduced net debt to EBITDA leverage to 1.2 times.

Negative

Year-over-year declines were observed in the automotive and medical, industrial, and instrumentation end markets, partially offsetting revenue growth.
GAAP operating income for the fourth quarter was negatively impacted by a $32.6 million goodwill impairment charge related to the RF and S component segment.
Gross margin decreased year-on-year due to continued Penang startup costs, higher employee-related costs, and declines in the automotive market.
The company is facing challenges with inventory normalization in the medical, industrial, and instrumentation markets, leading to a 9% decline for the full year.
The automotive market experienced a 12% decline for the full year due to inventory corrections and weak demand, particularly as EV demand stalled in developed countries.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

TTMI.OQ - TTM Technologies Inc
Q4 2024 TTM Technologies Inc Earnings Call
Feb 05, 2025 / 09:30PM GMT

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Presentation
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Unidentified_1 [1]
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Good afternoon. Thank you for standing by. Welcome to the TT M Technologies Inc fourth quarter, 2024 financial results conference call. During today's presentation, all parties will be in a listen-only mode following the presentation, the conference will be open for questions to ask a question during the session. You will need to press star 11 on your telephone. You will then hear an automated message advising your hand is raised to withdraw your question. Press star 11 again as a reminder, this conference is being recorded today, February 5th, 2025 Samir Desai ttm's Vice President of corporate development and investor relations will now review ttm's disclosure statement.

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