TTM Technologies Q3 2026: AI demand fuels a record-breaking quarter
As seen on the 24/7 Wall St. homepage on October 22, 2026.
Management just penciled in 2027 revenue of $6.5 billion to $6.75 billion, a target that resets what this business is worth owning today. AI data-center boards now drive the growth behind it.
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TTM Technologies delivered adjusted non-GAAP EPS of $1.46 for its third quarter of fiscal 2026, beating expectations and extending the company's streak of beating Wall Street to seven consecutive quarters.
The standout driver was the Data Center and Networking segment, which surged 115% from the prior-year period on continued AI-related demand for high-performance circuit boards. Medical, Industrial and Instrumentation and Aerospace and Defense both grew as well, and adjusted EBITDA margin exceeded 20% for the first time.
Management guided Q4 2026 net sales of $1.42 billion to $1.44 billion, and the preliminary 2027 full-year forecast implies the business is on a fundamentally different growth trajectory than it was even a year ago.
TTM is also expanding aggressively through acquisitions, having completed the purchases of Swiss Technology Group and Epiq Solutions, both now included in guidance. It has announced a planned $650 million all-cash acquisition of Ophir Optics from MKS Inc. for infrared defense optics, plus planned deals for ILFA GmbH in Germany and Merlin Circuit Technology in the UK.
The book-to-bill ratio of 2.13 signals that demand is running well ahead of current production capacity. Together with the Aerospace and Defense program backlog, that suggests the revenue ramp management is projecting is supported by orders already in hand.
Mentioned: TTMI