TTM Technologies Sets Strong 13-15% Operating Margin Target, Secures Favorable Financing
TTMI has more than doubled off its 52-week low of $28.12.
Summary
TTM Technologies announced new, strong non-GAAP operating margin targets of 13-15% for fiscal year 2026, alongside adjusted EBITDA margins of 16-18%. This follows the company's May 18th update where it raised its FY2026 revenue guidance to $4.0 billion, which was reiterated today. The company also expects $300-320 million in operating cash flow and slightly positive free cash flow. Furthermore, TTM is repricing and upsizing a $400 million Term Loan, which will reduce costs, and is securing $1.0 billion in new revolving credit facilities, enhancing its financial flexibility.
At the time of this announcement, TTMI was trading at $196.04 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $20.5B. The 52-week trading range was $28.12 to $200.68. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Wiseek News.