TTM Technologies Reports Record Q2 2026 Revenue of $1 Billion Amid Data Center Surge

Key highlights

• Quarterly revenue reached $1.004 billion, marking a 37 percent increase year-over-year
• Data Center segment revenue surged 91 percent compared to the same period in the previous year
• Total program backlog was reported at over $1.7 billion as of June 29, 2026
• Management raised full-year 2026 revenue guidance to approximately $4.4 billion
• Full-year 2026 earnings per share guidance was adjusted to approach the 5.00 dollar level
• Defense growth and AI-driven data center demand were the primary drivers of the record performance

Financial Performance

TTM Technologies reported a substantial increase in financial scale during the second quarter of 2026, with revenue hitting the 1 billion dollar milestone for the first time. This represents a 37 percent increase from the prior year, significantly outpacing previous management estimates. While revenue and earnings grew, the stock experienced a 8.83 percent daily decline following the announcement, despite the fundamental beats. The company's profitability benefited from higher utilization across its manufacturing facilities, particularly those supporting high-layer count printed circuit boards required for advanced computing.

Up 5.2% since our story on 13 Oct: $110.33 when we broke it → $116.10 at the close on 13 Oct. Daily closing prices. Source: Yahoo Finance.

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14 Sep	$113.22
15 Sep	$112.46
16 Sep	$114.00
17 Sep	$114.77
18 Sep	$117.97
21 Sep	$124.02
22 Sep	$127.47
23 Sep	$125.82
24 Sep	$126.98
25 Sep	$129.17
28 Sep	$124.19
29 Sep	$122.80
30 Sep	$122.84
1 Oct	$126.50
2 Oct	$131.87
5 Oct	$133.14
6 Oct	$132.71
7 Oct	$128.20
8 Oct	$117.50
9 Oct	$121.01
12 Oct	$110.33
13 Oct	$116.10

Management Outlook

Following the strong quarterly performance, management raised its expectations for the remainder of the fiscal year. The full-year revenue target is now set at approximately 4.4 billion dollars. For the upcoming third quarter of 2026, the company expects net sales to range between 1.1 billion and 1.14 billion dollars. Leadership expressed confidence in the sustained nature of the AI infrastructure cycle while noting that they are monitoring pricing dynamics for future strategic acquisitions and capital allocation.

Business Overview

TTM Technologies is a global leader in the manufacturing of technology solutions, specializing in highly complex printed circuit boards, radio frequency components, and engineered systems. The company serves as a critical supplier for the aerospace and defense industries, as well as the rapidly expanding data center market. By focusing on mission-critical applications and high-growth technology segments, TTM maintains a diverse portfolio that mitigates cyclicality in individual end markets.

Sector Dynamics

The electronic components industry is currently bifurcated, with massive growth in AI-related infrastructure offsetting more moderate performance in standard industrial markets. The 91 percent growth in TTM's Data Center segment highlights the industry-wide rush to build out next-generation server capacity. Concurrently, the defense sector provides a stable long-term foundation, supported by a total program backlog exceeding 1.7 billion dollars, as government agencies prioritize electronic warfare and high-speed communication technologies.

What to Watch

• Implementation of N plus N revenue contributions as the company looks toward 2027 targets
• Strategic approach to M and A pricing given current market valuations and balance sheet strength
• Third quarter financial results and conference call scheduled for October 28, 2026
• Potential impact of supply chain adjustments on the elevated 2026 revenue guidance

TTM Technologies, Inc. · financial snapshot

Share price	$110.33
Market cap	$11.6B
Revenue (annual)	$2.9B
P/E (TTM)	49.9×
1-month price change	-9.82%
Sector	TechnologyElectronic Components

Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.