EL7.AI
StocksMedium•24 October 2026•
4 min read

TTM Technologies’ Sales Jump 60% to $1.2 Billion in Third Quarter

Key Facts

1Third-quarter sales were $1.2 billion, up 60% year over year, and non-GAAP earnings per share were $1.46.
2Adjusted EBITDA margin was 20.1% of sales, compared with 16.1% in the third quarter of 2025.
3Sales grew 115% in data centers and networking, 97% in medical, industrial and instrumentation, and 21% in aerospace and defense.
4Shares rose 8.42% to $80.11 on October 23, after falling 27.67% to $73.89 in the previous session.
5The company announced an agreement to buy the Ophir Optics business for $650 million in cash, with closing expected in the second quarter of 2027.

TTM Technologies reported results for the third quarter ended September 28, 2026, on October 22, posting sales of $1.2 billion, up 60% year over year, and non-GAAP diluted earnings of $1.46 per share. The announcement covered a period of revenue expansion and improved operating profitability, according to the company’s filing with the U.S. Securities and Exchange Commission. Non-GAAP net income was about $157.8 million, according to the same filing. But the stock did not rise immediately after the results; it fell in the announcement session before rebounding the next day. The contrasting moves place the company’s record results in the context of the market’s reaction over two consecutive sessions.

Adjusted earnings before interest, taxes, depreciation and amortization reached $242.3 million in the third quarter, equal to 20.1% of sales, a company record. In the same period of 2025, the measure was $120.9 million, or 16.1% of sales, showing that the improvement extended beyond revenue growth to include margins. Adjusted EBITDA margin measures adjusted operating profit as a share of sales, linking the comparison between the periods to the efficiency of converting revenue into profit. The result came as annual sales rose 60%, meaning revenue growth alone does not account for the expansion in profitability. The company reported these figures in its official earnings announcement.

Chief Executive Officer Edon Roques attributed the growth to performance across multiple segments, with data center and networking sales rising 115% year over year in the third quarter. Sales in the medical, industrial and instrumentation segment also increased 97%, while the aerospace and defense segment grew 21%. Roques said the three segments posted those gains during the period, pointing to broad-based expansion across the company’s businesses. Data center and networking was the fastest-growing of the segments cited, while aerospace and defense added more modest but still positive growth. The comparison shows how sales growth was distributed without attributing the entire overall increase to any single segment.

On liquidity and demand, cash flow from operations was $154.7 million in the third quarter, while the book-to-bill ratio reached 2.13 times. The ratio means the value of orders booked relative to invoices issued was above one during the period, according to the company’s measure. It had been 1.49 times in the second quarter of 2026, when sales were $1 billion, up 37% year over year. Adjusted EBITDA margin in that quarter was also 16.6% of sales. By comparison, the book-to-bill ratio rose alongside sales and margins in the third quarter, while the second-quarter figures showed the earlier activity baseline ahead of the latest results.

The results coincided with a deal TTM announced on October 19 to acquire MKS’s Ophir Optics business for $650 million in cash. The company expects the deal to close in the second quarter of 2027, making it part of the company’s expansion context alongside growth in its existing businesses. Roques said net leverage was 2.8 times as of September 30, 2026, and the company expects it to be within its target range of 1.5 to 2.0 times at the expected closing of the deal. These figures connect the acquisition with the leverage position disclosed by the company, while completion remains expected at a specified future date. The filing cited here did not specify how the acquired business would affect results in coming periods.

In the market, TTMI shares closed at $73.89 on October 22, down 27.67% in the results-announcement session, then rose 8.42% on October 23 to $80.11. That means the next session’s gain followed a steep decline; it was not a jump on the day of the announcement itself. In sequence, the stock’s performance reflected sharp volatility across two consecutive sessions after the results were released. The company’s initial outlook for 2027 included a target leverage range at the closing of the Ophir deal, which is expected to close in the second quarter of the year. The deal and related outlook remain the next milestones with specified timing in the available disclosures.