| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 1.0K | 18.7% | 37.4% |
| Total Income | 1.0K | 18.7% | 37.4% |
| Expenditure | 895.00 | 15.7% | 33.8% |
| PBT | 81.25 | 38.8% | 78.5% |
| Net Profit | 83.05 | 66.1% | 100.0% |
| OPM | 10.86% | 2.30pp | 2.41pp |
| NPM | 8.27% | 2.36pp | 2.59pp |
| EPS | 0.80 | 66.7% | 95.1% |
TTM Technologies Reports Second Quarter 2026 Results
06 Aug 2026 · 6 Aug, 3:41 pm
Summary
TTM Technologies announced record-breaking results for the second quarter of 2026, with net sales reaching $1.0 billion, a 37% increase year-over-year. Both GAAP and non-GAAP net income saw significant growth, with non-GAAP net income hitting an all-time quarterly record of $106.9 million, or $0.99 per diluted share. Adjusted EBITDA was $166.8 million, or 16.6% of net sales, reflecting margin expansion efforts. Management highlighted strong demand in the Data Center and Networking end market and positive alignment with defense programs, while also noting strategic acquisitions and balance sheet flexibility for future investments.
Key Highlights
- 1
TTM Technologies reported net sales of $1.0 billion for the second quarter of 2026, an increase of 37% year-on-year and an all-time quarterly record.
- 2
The company achieved GAAP net income of $83.0 million, or $0.77 per diluted share, in Q2 2026.
- 3
Adjusted EBITDA for the second quarter of 2026 was $166.8 million, representing 16.6% of net sales.
- 4
Non-GAAP net income reached $106.9 million, or $0.99 per diluted share, also an all-time quarterly record.
- 5
Cash flow from operations was $96.4 million in the second quarter of 2026.
- 6
The total book to bill ratio was 1.49, and the total program backlog exceeded $1.7 billion.
- 7
The Data Center and Networking end market represented 40% of total net sales, driven by continued AI demand.
Management Comments
Edwin Roks
We delivered another record high quarterly net sales and non-GAAP EPS, reflecting the strength of our strategic business model, positive market demand trends across end markets, and operational excellence from our employees. Revenues grew 37% year on year, powered largely by ongoing robust demand in the Data Center and Networking end market, which increased 91% year on year. Our Medical, Industrial and Instrumentation end market experienced 33% year on year revenue growth, and our Aerospace and Defense end market delivered 14% year on year revenue growth and a healthy improvement in backlog, reflecting our positive alignment with projected priority defense programs. Adjusted EBITDA margin was a healthy 16.6%, providing evidence that our margin expansion efforts are currently working. Cash from operations was $96.4 million and our net leverage ratio is 0.9x. Looking forward, we are excited about TTM’s strategic position given our strong existing customer momentum in addition to our announced agreements to acquire Swiss Technology Group AG and ILFA GmbH, as part of our entry into Europe, which we expect to close in the third quarter of 2026. During the quarter, we also took steps through the recently announced $1.0 billion revolver and upsized Term Loan B to increase balance sheet flexibility and provide additional capacity for organic and inorganic investments that align with our strategy.
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