TTM Technologies reported its fourth-quarter 2024 earnings on February 5th, revealing a strong performance that exceeded Wall Street expectations. The company posted non-GAAP earnings of $0.60 per share, surpassing the analyst consensus of $0.47 per share. This impressive result was driven by a 14.4% increase in revenue to $651.0 million, up from $569.0 million in the same quarter last year. The company's robust performance was further highlighted by a record backlog in its Aerospace and Defense (A&D) program, amounting to $1.56 billion, and a significant contribution from Data Center Computing, which accounted for 22% of total revenues.
Looking ahead, TTM Technologies provided guidance for the first quarter of 2025, projecting non-GAAP earnings per share between $0.37 and $0.43, aligning with market expectations. This forecast, coupled with the company's strong cash flow from operations, which reached $236.9 million in 2024, has bolstered investor confidence. The company also announced $34.5 million in share buybacks, further signaling its commitment to returning value to shareholders.
TTM Technologies (TTMI) shares closed at $24.78 on February 5th, marking a 1.98% increase from the previous day's close of $24.30. After the market closed, the stock surged by 12.99% to reach $28.