TTM Q2 net sales $605.1M; non-GAAP EPS $0.39 beats guidance; refinances $346.5M term loan

TTM TECHNOLOGIES INC

2024-Q2 EPS reported $0.35 revenue$1,175,250,000

Net sales $605.1M (up 10.7% YoY); GAAP EPS $0.25, non-GAAP EPS $0.39 above guided $0.33-$0.37.
Aerospace/Defense and Data Center Computing end markets drove growth; operating cash flow $41.9M.
Repurchased 1.39M shares for $25.1M at avg price $18.09.
Anticipates closing refinancing of $346.5M term loan at SOFR+2.25% (down 50bps) on Aug 1, 2024; ~$1.7M annual interest savings.
Q3 guidance: revenue $580M-$620M, non-GAAP EPS $0.37-$0.43.

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