TTM Technologies Shares Plunge 30% Despite Q3 Earnings Beat
TTM Technologies (TTMI) experienced a significant stock price collapse, falling nearly 30% following its third-quarter earnings report. Although the company reported strong headline figures—including a 59% year-over-year revenue increase to $1.20 billion and adjusted earnings of $1.46 per share that exceeded Wall Street estimates—investors reacted negatively to details revealed during the earnings call. The sell-off was driven by a 10% miss in the company's data center and networking division, which CEO Edwin Roks attributed to project timing delays. Furthermore, management disclosed significant supply chain disruptions with material lead times stretching up to 24 weeks. Added pressure from $20 million in quarterly interest expenses related to recent acquisitions further dampened investor sentiment.
Tickers: $TTMI
Topics: debt acquisition earnings beat revenue guidance stock price volatility