Q2 2025 TTM Technologies Inc Earnings Call Transcript

Jul 30, 2025 / 08:30 PM GMT

Transcript 10-Q8-K

Key Points

Positve

TTM Technologies Inc (TTMI) achieved a 21% year-on-year revenue growth, driven by strong demand in aerospace and defense, data center computing, networking, and medical industrial and instrumentation markets.
The company's non-GAAP operating margins improved by 210 basis points year-on-year, reaching 11.1%, marking the fourth consecutive quarter of double-digit operating margin performance.
Non-GAAP EPS reached a quarterly record of $0.58, reflecting strong financial performance.
Cash flow from operations was robust at 13.4% of revenues, with net leverage ending the quarter at a healthy 1.2 times.
TTM Technologies Inc (TTMI) has diversified its end markets and manufacturing footprint, reducing exposure to tariffs and enhancing supply chain resilience.

Negative

The Penang facility's revenue ramp is slower than expected, with challenges in achieving break-even revenue levels due to the complexities of a greenfield startup.
The automotive market experienced a slight year-over-year decline due to continued inventory adjustments and soft demand at several customers.
The aerospace and defense segment's book-to-bill ratio was below 1, attributed to order timing, which could indicate potential volatility in future demand.
The Penang facility's margin drag increased to about 210 basis points, worsening by 30 basis points year-over-year.
There is a significant cost differential for the new Eau Claire facility compared to international locations, with pricing expected to be at least 50% higher than in China, posing challenges for customer commitment.

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

TTMI.OQ - TTM Technologies Inc
Q2 2025 TTM Technologies Inc Earnings Call
Jul 30, 2025 / 08:30PM 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 TTM Technologies Inc. 2nd quarter 2025 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 11 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, press 11 again.

As a reminder, this conference is being recorded today, July 30, 2025. Samir Desai, TTM's Vice President of corporate Development and Investor relations, will now review TTM's disclosure statement. Mr. Desa.

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