TTM Technologies shares slide despite strong quarter on softer sales outlook

what happened

TTM Technologies, a printed circuit board maker, saw its stock lose 23.8% in morning trading on October 22, according to StockStory. The drop came even though the company topped forecasts for the third quarter. Revenue reached $1.20 billion, up 59.9% from a year earlier, and adjusted earnings hit $1.46 per share. Analysts had expected $1.12 billion in revenue and $1.26 per share.

The weak point was the outlook. For the fourth quarter, the company expects revenue between $1.42 billion and $1.44 billion, and the midpoint sits below the $1.44 billion consensus. Adjusted earnings are projected at $1.77 to $1.83 per share. TTM also finished its purchases of Swiss Technology Group and Epiq Solutions.

Three days earlier, the company agreed to buy the Ophir Optics unit from MKS Inc. for roughly $650 million in cash. The deal is scheduled to close in the second quarter of 2027.

why it matters

The stock remains far below its June 2026 peak of $221.47, trading near $75.83 per share, or 65.8% under that high. The reaction suggests investors weighed the cautious sales forecast more heavily than the quarterly beat. The optics acquisition could shift the business toward sole-sourced aerospace and defense subsystems, away from build-to-print fabrication.

market impact

TTMI and PCB peers: a weak revenue forecast weighs on the shares despite the earnings beat

tags

instruments